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About the Role

As a Facultative Property Senior Underwriter, you will be responsible for underwriting property facultative reinsurance programs in the US. This involves risk analysis, coverage evaluation, pricing, and marketing to brokers and clients, while leading or assisting in negotiations to maintain and develop a profitable portfolio.

Responsibilities

• Independently underwrite and price moderate to highly complex business in accordance with corporate, divisional and department guidelines and philosophy.
• Produce, underwrite, and manage the book of business in compliance with applicable underwriting guidelines, strategies, and best practices.
• Perform the underwriting referral function as specified and as required in the underwriting guidelines and mandates.
• Help refine and implement our portfolio strategy, ensuring high-quality underwriting through coaching, mentoring, technical guidance, and frequent feedback.
• Develop and maintain strong market presence by developing client and broker strategies.
• Develop new business opportunities and promote Group’s capabilities and competencies externally in close cooperation with Client Management.
• Establish and maintain sound contact with clients and brokers, keeping abreast of market and industry developments and client needs.
• Demonstrate superior negotiation skills, facilitating and managing the complexities and challenges associated with sourcing business.
• Negotiate and conclude offers and contract terms with Brokers/Clients, and when necessary and feasible, submit counter proposals.
• Lead interdepartmental projects to develop and implement underwriting strategies.
• Provide technical leadership to a team by offering clear direction, guidance, and coaching.
• Demonstrate advanced proficiency in the use of pricing models and other risk evaluation models.
• Make strategic decisions based on data interpretation beyond models.
• Adjust communication style to audience at all levels internally or externally.
• Present effectively at professional seminars, panels, or workshops.
• Conduct and lead peer reviews of team members’ accounts.
• Serve as a peer review resource to other distribution channels and Client Groups, providing underwriting expertise and input.

Requirements

• 10+ years of experience in (re)insurance, broker community and/or corporate risk market.
• 5+ years of underwriting experience preferred.
• Superior Negotiation, Relationship Management and Marketing skills.
• Strong computer skills.
• Excellent verbal/written language and communication skills.
• Ability to work cross-functionally and cross-culturally to collaborate with teams in London, Munich and globally.
• Ability to travel nationally and internationally - up to 30%.

Skills

• Risk analysis
• Risk assessment
• Coverage evaluation
• Pricing
• Marketing
• Negotiation
• Relationship management
• Communication
• Presentation
• Data interpretation
• Strategic decision making

Location

• New York City, NY

Work Type

• Full-time

Experience Level

• Senior

Education Level

• Bachelor’s Degree preferred
• Advanced degree a plus
• CPCU, Professional designations a plus

Salary/Compensations

• $200,000 - $250,000 plus opportunity for company bonus

Benefits

• Health insurance coverage (PPO or High Deductible)
• Prescription drug coverage
• Vision and dental insurance plans
• Basic life insurance equal to 1x annual salary
• AD&D coverage equal to 1x annual salary
• Short and Long Term Disability coverage
• Supplemental Life and AD&D plans
• Voluntary Benefit plans (Accident, Critical Illness and Hospital Indemnity)
• 401k plan with up to a 5% employer match
• Retirement savings plan (100% company funded)
• 24 days paid time off annually, increasing with service anniversaries
• Yearly bonus eligibility
• Health and wellness programs
• Paid time off for eligible family care needs
• Tuition assistance
• Educational achievement bonuses
• Corporate matching gifts program
• Paid time off to volunteer

About the Company

• As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand.
• Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
• Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit.
• We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

Equal Opportunity

• We are an equal opportunity employer.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us.
• Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.
• We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.
• We recruit and develop talent with a focus on providing our customers the most innovative products and services.