Role Title: Underwriter
Department: FinPro
Team: Professional Indemnity
Location: London
Type: Permanent
About the Role:
Liberty Specialty Markets’ Professional Indemnity team in London is recruiting an Underwriter to underwrite primary and excess PI across a broad range of professions and jurisdictions. You will support the team in managing various risks from SME through larger corporate clients, contributing to underwriting discipline and portfolio performance.
Working across a varied book of business with opportunities to develop technical skills and take on increasing responsibility, supporting senior underwriters in originating and developing business opportunities and contributing to team planning.
About the Department & Team:
Professional Indemnity is a mature class of business at LSM having been in the market for over 40+ years. Our underwriters provide over 100+ years of combined professional indemnity experience and offer a broad range of products across multiple jurisdictions.
We recognise that every business is different, so work closely with brokers and clients to arrange cover with a view to establishing long-term partnerships for mutual advantage. These client relationships are strengthened by our consistent underwriting approach across a diversity of professions and throughout the insurance market cycles. Our highly experienced underwriters have developed a suite of PI products which are suitable for all key professions.
Key Responsibilities:
Strategy and Planning
· Follow the annual business plan and Professional Indemnity strategy document in order to make appropriate decisions
· Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice
· Contribute new ideas and concepts to support the development and delivery of the business plan
· Contribute as and when required to the planning process through research and preparation of relevant materials
· Work cross-functionally with counterparts in other functions (e.g. Claims, Actuarial, Finance, Portfolio Management etc.) to achieve objectives
Delivery
· Establish and promote strong relationships with clients, brokers, business partners, reinsurers and colleagues, to maximise influence and achieve business objectives
· Represent Liberty’s interests with internal and external groups, and through participation in industry forums and corporate activity to safeguard or enhance Liberty’s market position
· Demonstrate understanding and awareness of market dynamics and market cycles to support the performance of the underwriting team
· Continually develop expertise and technical knowledge through appropriate development initiatives
· Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including: (1) Negotiating rates, terms and conditions for existing and new business (2) Compliance with the production and issue of documentation in accordance with contract certainty requirements
· Collaborate with claims, pricing/actuarial, legal and risk teams to ensure appropriate terms and consistent handling of exposures
· Contribute and influence in the review and analysis of the portfolio, to identify new business development opportunities
· Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures
Policy, Process and Procedures
· Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance
· Maintain accurate records, ensure timely responses to submissions and assist with underwriting administration
· Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk
· Comply with any reinsurance requirements in accordance with stated risk tolerances and to deliver against business plan
· Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing
Skills and Experience:
· Experience underwriting Professional Indemnity risks, with exposure to primary and excess layers
· Understanding of class‑specific underwriting, reinsurance, and relevant regulatory requirements
· Established or developing client and broker relationships
· Effective communication and negotiation skills
· Good analytical ability, numeracy, and attention to detail
· Proficiency in Excel and relevant underwriting systems
· Degree or professional qualification preferred (e.g. ACII or working towards)
About Liberty Specialty Markets (LSM)
Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
· Offering a vibrant and inclusive environment and committing to their career development
· Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment
· Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals
· A supportive culture, which includes promoting a healthy work-life balance and working flexibly
For more information, please follow the links below:
https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us
https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-equity-and-inclusion
