Company
Munich Re Specialty - Global Markets
Location
London , United Kingdom
About us
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.
Please see our website for more information.
Senior Terrorism & Political Violence Underwriter
We are currently looking for a Senior Underwriter to be based in Londin on a full-time basis, reporting into the Group Head of Terrorism & PV.
You to ensure the prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.
Responsibilities:
- Assist in the creation and delivery of the business plan for the Political Violence team and be a driving force of the underwriting, accountable for ensuring targeted income levels are met throughout the year and growth targets are met year-on-year.
- Underwrite Political Violence risks, exercising judgement 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;
- Establish and run projects and initiatives such as new sub-classes and products to serve clients and diversify the portfolio from both a risk and income perspective.
- Conduct book review as well as regular monitoring and portfolio management to ensure the business plan is being executed.
- Monitor recording of all aggregate and reporting information.
- Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority.
- Make written records of all conversations with customers, both internal and external, in accordance with the firm’s procedures manual.
- Negotiate new wordings and structures, ensuring clients’ needs are serviced and regulatory requirements met, whilst preserving a prudent risk appetite, in line with the syndicate and team’s underwriting strategy.
- Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
- Ensure that all contract certainty issues are addressed for all relevant risks;
- Review and administer existing contracts and make amendments in line with MRSG’s underwriting philosophy;
- Monitor recording of risk entry and amend where appropriate;
- Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Political Violence Account.
Knowledge and Skills
Advanced knowledge and understanding of:
- Underwriting Principles;
- Legal Principles;
- FCA and Lloyd’s rules and regulations including contract certainty issues;
- All company specific procedures that relate to own role and role of those employees that you are supervising;
- Political Violence risks
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
Diversity, Equity & Inclusion
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.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our 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.
Learn more about sustainability at Munich Re – choose your impact!
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set-up Support
#BePresent #BeBold #BeCurious
