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About the Role

The Senior Treaty Casualty Underwriter will underwrite, price and support a portfolio of new and renewal Casualty treaty reinsurance business in accordance with Munich Re US guidelines, strategy and profitability standards. The underwriter is responsible for risk analysis and assessment, coverage evaluation, pricing, and assisting in contract negotiations in order to maintain and develop a profitable portfolio of Casualty assumed reinsurance business.

Responsibilities

Underwrite, price and support a portfolio of new and renewal General Casualty treaty reinsurance business in accordance with Munich Re US guidelines, strategy and profitability standards.
Responsible for risk analysis and assessment, coverage evaluation, pricing, and contract negotiations to maintain and develop a profitable portfolio of Casualty assumed reinsurance business.
Underwrite and price Casualty treaty reinsurance business in accordance with the Division’s Casualty Strategy and in compliance with corporate and divisional guidelines and best practices independently and also supervise of junior underwriters.
Strong understanding of all main Commercial and Personal Casualty lines, such as AL, GL, and Umbrella, as well as good understanding of niche products such as EIL, Life Science, Recall etc.
Strong understanding of various reinsurance structures and their impact on profitability and volatility estimates.
Cooperate with management and senior executives when dealing with complex issues, larger clients, accounts, projects, analyses, or internal relationships.
Underwrite new and renewal treaty business in accordance with delegated underwriting authority, including all tasks associated with risk and coverage analysis and pricing, monitoring of account results, and provide recommendations for proposed terms and conditions, both independently and in close cooperation with management.
Negotiate contract terms and wording with clients and brokers.
Complete underwriting audits of clients and prospects to provide credible evaluations of the quality of their books of business.
Maintain close contact and dialogue with Casualty brokers and/or insurance companies.
Attend industry conferences, seminars, expert panels, and other marketing events.
Lead projects related to the development and implementation of underwriting processes and strategies for Casualty lines.
Provide input on or develop client strategies, where applicable.
Develop proficiency in the use of Munich Re pricing models and other risk evaluation tools.
Enhance technical product and underwriting expertise with respect to both the primary and re-insurance market and products.
Maintain strong market presence by being active in industry organizations and participating in broker and client marketing efforts.
Work collaboratively with colleagues in other functional areas and across the Group.
Share knowledge by participating in line of business monitoring and business development activities.
Function as subject matter expert for the broader Casualty Treaty team.

Requirements

15+ years of primary insurance and/or reinsurance company experience.
Underwriting knowledge of Casualty Treaty and niche classes; including actuarial concepts, industry trends, accounting and legal a plus.
Experience in primary and/or reinsurance General Liability, Umbrella, Auto, Excess Liability, Professional Liability, or Other specialty underwriting a plus.
Strong interpersonal and social skills; team player.
Strong negotiation, oral and written communication skills.
Excellent presentation skills.
Ability to think creatively and show flexibility handling multiple projects.
Effective time management skills.
Excellent computer skills; proficiency in MS 365.
Willingness to travel for audits and client and broker visits (approx. 25% of time).
CPCU, ARe, FCAS / ACAS designations a plus.
BS / BA required, advanced degree such as MS/MBA or other quantitative field a plus.

Skills

Casualty Treaty Underwriting
Risk Analysis and Assessment
Coverage Evaluation
Pricing
Contract Negotiation
Commercial Casualty Lines
Personal Casualty Lines
General Liability
Umbrella
EIL
Life Science
Recall
Reinsurance Structures
MS 365

Location

New York City
Princeton, NJ

Work Type

Full-time

Experience Level

Senior

Education Level

BS/BA required
Advanced degree such as MS/MBA or other quantitative field a plus

Salary/Compensations

$237,100 - $347,700

Benefits

Company bonus based upon a percentage of eligible pay
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 that is 100% company funded
24 days paid time off annually
Eligibility to receive a yearly bonus
Variety of 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 in your community

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.

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.