Engineering Underwriter - Process Industries and new Technologies (m/f/d)*

Münchener Rückversicherungs AG; München; Hybrid; EUR 90,000 - 120,000; Full time

Benefits offered by this job

Hybrid working

Health management

In-house pension

Job summary

Münchener Rückversicherungs AG is seeking an experienced underwriter for its Construction team to assess and underwrite complex international projects. You will combine engineering insight with commercial judgment to deliver tailored insurance solutions and sustainable profitability.

The role requires analyzing technical and contractual information, working with brokers and clients, and traveling internationally as needed in a collaborative, global environment.

Qualifications

• University degree in engineering, natural sciences or a recognised insurance qualification.
• Experience with process-driven industries, equipment manufacturing or construction project insurance.
• Ability to understand complex industrial processes and derive clear conclusions.

Responsibilities

• Assess and underwrite complex international construction and industrial projects.
• Analyse technical, contractual and commercial information and document decisions.
• Develop tailored insurance solutions balancing client needs and profitability.
• Identify opportunities and contribute to growth, portfolio quality and diversification.
• Build relationships with brokers, insureds and project stakeholders; participate in client meetings.

Skills

Underwriting

Risk assessment

Technical risk

Stakeholder management

Education

Engineering degree

Job description

Go beyond and create global impact: At Munich Re, we're proud to be one of the world's leading providers of reinsurance, primary insurance, and insurance-related risk solutions. Our group is made up of the reinsurance and ERGO business segments, along with our asset management company, MEAG. We operate globally and are active in all lines of the insurance business.

Since our founding in 1880, we've built a reputation for unrivalled risk-related expertise and a solid financial foundation. We use our strengths to support our clients' business goals and drive technological progress. We're also at the forefront of developing coverage for emerging risks, from rocket launches and renewable energy to cyber threats and artificial intelligence.

With around 44,000 people worldwide, our group's corporate culture is defined by performance, mutual respect, and trust. All this makes us an attractive employer providing global career development opportunities and prospects.

Global investment in industrial plants and infrastructure is being driven by evolving technologies, resilient supply chains, the energy transition and growing demand for critical resources. Munich Re F&C provides tailored insurance solutions for complex international construction projects, including oil, gas, chemicals and petrochemicals, mining and mineral processing, battery and semiconductor manufacturing, and emerging energy technologies such as green hydrogen, carbon capture and eSAF. As part of our Construction team, you will combine engineering expertise with commercial decision-making. We welcome applicants from insurance, industry, project development, EPC contracting and risk engineering. Prior underwriting experience is not essential if you bring relevant technical or contract expertise, sound judgement and a willingness to learn the insurance business.

Your Job

• Assess and underwrite complex international construction and industrial projects in line with Munich Re's strategy, risk appetite and delegated authority.
• Analyse technical, contractual and commercial information, identify key risk drivers and uncertainties, and document the decision process.
• Develop tailored insurance solutions that balance client needs, risk quality and sustainable profitability.
• Identify attractive business opportunities and contribute to profitable growth, portfolio quality, and diversification.
• Build trusted relationships with brokers, insureds and project stakeholders, and represent Munich Re at client meetings, project presentations and market events.
• Participate in or lead site surveys and translate findings into reports.
• Collaborate with colleagues and specialist experts, support the global Munich Re organisation and contribute to underwriting methods, tools and knowledge sharing.

Your Profile

• A university degree in engineering, natural sciences or other relevant technical disciplines, or a recognised insurance qualification with a strong interest in technical risks.
• Professional experience in process-driven industries, equipment manufacturing or another relevant technical environment, or experience in construction project insurance.
• The ability to understand complex industrial processes, project structures, and to derive clear conclusions from complex or incomplete information.
• The ability to familiarise yourself quickly with new topics, work independently, take ownership and make well-reasoned decisions.
• Strong communication, negotiation and stakeholder-management skills, combined with a constructive and solution-oriented approach.
• The ability to analyse technical and contractual documents and the motivation to develop expertise in insurance contracts and policy wordings.
• Curiosity about industrial sectors and emerging technologies, combined with an international and collaborative mindset and the ability to work effectively across cultures and functions.
• Fluent written and spoken English is required for working in an international business environment. German, Spanish or other relevant language skills are an advantage.
• Willingness to travel internationally.

About us

As the world's leading reinsurance company with more than 16,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel. Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. Sounds like you? Push boundaries with us and be part of Munich Re. Our employees are our greatest strength. That's why we offer them a wide range of benefits. You can find some examples below.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: appropriate compensation for your high level of commitment.
• Retirement provision: state of the art in-house pension solutions.
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: focus on your physical and mental health far beyond legal requirements.
• Hybrid working: living the best of both worlds - we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.

Münchener Rückversicherungs‑Gesellschaft

Leonie Johnson

Talent Acquisition Partner