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About the Role

This Underwriter will manage the prudent underwriting of quality Delegated Property business in line with business plan to facilitate maximum return of profit while maintaining the company’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the company.

Responsibilities

• Underwrite new and renewal Property binders, exercising judgment in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan; referring to Group Head of Delegated Property when appropriate.
• Ensure the effective management of property binders, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits; referring to Group Head of Delegated Property when appropriate.
• Underwrite new and renewal Property risks, exercising judgment in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan; referring to Group Head of Delegated Property when appropriate.
• Service existing binder contracts and make amendments in line with the Syndicate’s underwriting philosophy.
• Enter relevant risk information into S2000 and other appropriate systems, ensuring compliance and KYC requirements are in order.
• Conduct and develop effective relationships with Coverholders and Brokers, to both strengthen existing trading relationships and secure new business that falls within the Underwriting business plan.
• Conduct, and develop effective relationships with colleagues in the property team and other teams, including claims, actuarial, binder management, underwriting management, exposure management, compliance and finance.
• Conduct and develop effective relationships within Lloyd’s and the wider market, with peers and brokers, to keep abreast of market developments that may affect the syndicate’s trading effectiveness.
• Review slips and endorsements along with other placing information and literature, exercising own judgment to ensure the account remains within the Underwriting business plan.
• Review rate structures, underwriting guides, policy wordings and supporting documentation, exercising own judgment to ensure they are appropriate for the portfolio of business.
• Monitor on a monthly basis the written and signed premium income of the Property account.
• Monitor on an ongoing basis country aggregates to ensure that acceptances are within agreed limits.
• Manage risk management surveys.

Requirements

• ACII qualification.
• Relevant degree or equivalent experience.
• Advanced knowledge and understanding of US Commercial property business, including liability associated with commercial property business.
• Advanced knowledge and understanding of US Homeowners and High Value Home business.
• Advanced knowledge and understanding of FCA / PRA and Lloyd’s rules and regulations including conduct risk and contract certainty issues.
• Advanced knowledge and understanding of Lloyd’s insurance market.
• Advanced knowledge and understanding of Underwriting Principles.
• Advanced knowledge and understanding of Legal Principles.
• Advanced knowledge and understanding of all company specific procedures that relate to own position.
• Basic knowledge and understanding of potential risks facing the business within own role and the controls that are in place to mitigate them.
• Basic knowledge and understanding of a clear understanding of the roles of colleagues and their relationships to the structure and business plans of the syndicate.
• Willingness to continue to develop knowledge of products, underwriting and related issues through formal and informal learning, both internally and externally to the firm.

Skills

• Underwriting
• Risk Management
• Relationship Management
• Market Analysis
• Compliance
• Judgment
• Communication

Location

• US

Work Type

• Full-time

Experience Level

• Not specified

Education Level

• Degree or equivalent experience
• ACII

About the Company

• At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
• At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
• Munich Re Specialty – Global Markets' approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment.
• Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Equal Opportunity

• At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are.
• We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.
• Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
• All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.