Underwriter for Nuclear Risks (m/f/d)*

Münchener Rückversicherungs AG; München; On-site; EUR 90,000 - 150,000; Full time

Benefits offered by this job

Hybrid working

Competitive salary

Retirement provision

Health management

Career mobility

Job summary

Munich Re's Center of Competence for nuclear business seeks an underwriter focusing on nuclear power generation within the Power & Utilities Team. This market-facing position offers a challenging, global remit and the chance to shape coverage for an evolving risk landscape.

You will underwrite construction and operational risks, develop client and broker relationships, perform risk assessments with pricing and wording analysis, and coordinate with internal stakeholders on technology exclusions.

Qualifications

• University degree in engineering, physics or applied science-related discipline.
• Willingness to travel internationally.
• Fluent business English; Spanish and/or German advantageous.
• High ownership mindset to grow profitable book.
• Strong communication, negotiation, and presentation skills.

Responsibilities

• Underwrite nuclear construction and operational risks worldwide within your authority.
• Develop, maintain, expand client and broker relationships and acquire profitable new business.
• Perform risk assessment including pricing, wording analysis, accumulation management, and EAR/operational risks.
• Negotiate coverage terms with brokers and policyholders with internal approvals.
• Conduct surveys on construction sites and nuclear sites and write risk/engineering reports.
• Consult internal stakeholders on technology or exclusions (e.g., radioactive exposures).
• Keep up to date with technological, market and legal developments in this risk area.
• Assist in portfolio analysis and compile statistics and reports.

Skills

Agency & ownership

Relationship building

Sales orientation

Communication & negotiation

Teamwork

English fluency

Willing to travel

Nuclear knowledge interest

Education

Engineering/Physics/applied science 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.

In Munich Re's F&C Energy & Construction department the Power & Utilities Team is the access point for corporate clients with power generation, storage and/or transmission assets. We provide first party coverage for operation and construction of all relevant occupancies within the Power & Utility industry, be that conventional, nuclear or renewable energy. We offer a unique selling proposition of combining comprehensive insurance cover and risk management consultancy for this industry.

Apart from underwriting we also act as a centre of expertise: we are the preferred in-house contact with respect to power generation for internal requests and demands. As part of that role we also act as a Center of Competence for all questions relating to nuclear technologies.

The Center of Competence for nuclear business sits within the Power & Utilities Team and is a leading provider of large engineering project/operational insurance capacity (direct and facultative) for the nuclear power industry and leverages this expertise to grow into new nuclear technologies (e.g. SMR, Fusion).

We are looking for an underwriter focusing on nuclear power generation for our Center of Competence. This market facing position will be challenging on a technical, intercultural and personal level but also offers a unique opportunity in a growing, highly specialized and fascinating field of business.

Your Job

• Underwrite nuclear construction and operational risks in accordance with our strategy on a world-wide basis within your designated underwriting authority
• Develop, maintain, and expand client and broker relationships and contribute to the development of our portfolio by acquiring profitable new business
• Perform risk assessment including pricing, wording analysis, accumulation management and acceptance of EAR and operational risks
• Negotiate coverage terms & conditions with brokers and policyholders whilst assuring compliance with group-wide guidelines and seek internal approvals for final signing
• Conduct surveys on constructions sites and operational nuclear sites worldwide and write progress / risk engineering reports
• Consult internal stakeholders with regards to technology or exclusions e.g. radioactive exposures and exclusions
• Keep up to date with technological, market and legal developments concerning our risks and the line of business
• Assist in portfolio analysis and compiling statistics and reports

Your Profile

• University degree in engineering, physics or applied science-related discipline
• Preferably professional experience as an underwriter in direct and/or facultative insurance or practical experience
• High agency and ownership mindset striving to retain and grow a profitable book of business
• Ability to build sustainable relationships with clients and brokers
• Strongly pronounced sales orientation
• High interest in nuclear technology and preparedness to familiarize with emerging technologies like small-and-modular reactors (SMRs) and fusion technology
• Knowledge of risk assessment, insurance of project business and pricing methods as well as competencies in the analysis of wordings/contracts
• Excellent communication, strong negotiation and presentation skills
• Solution-oriented with a focused, proactive, and efficient work style
• Excellent social skills, ability to fit in and work in a team
• Fluent business English is essential; Spanish and/or German are of advantage
• High 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