Assistant Underwriter, Cyber

Munich Re; London; On-site; GBP 35,000 - 50,000; Full time

Job summary

A leading insurance provider seeks a full-time Assistant Underwriter in London to support the Cyber underwriting team. The role includes reviewing Cyber risks, ensuring compliance with regulatory obligations, and providing administrative support. Ideal candidates should possess a basic understanding of underwriting principles and regulatory requirements, alongside a commitment to relationship-building and risk management.

Benefits

Professional development support

Health assessments

EV schemes

Critical illness insurance

Qualifications

• Basic understanding of underwriting and legal principles.
• Knowledge of FCA and Lloyd’s regulations.
• Familiarity with Cyber Insurance in Lloyd's market.

Responsibilities

• Review and underwrite Cyber risks.
• Support Underwriting Assistants with data entry and document management.
• Maintain company procedures and systems.

Skills

Underwriting Principles

Legal Principles

Market Awareness

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), our ambition is to become the leading Primary Specialty Insurance provider through an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.

We foster a strong culture where people are encouraged to be present, bold, and curious, enabling them to reach their individual goals.

We are currently seeking a full-time Assistant Underwriter in our London office, reporting to the CUO - Cyber.

Your role involves ensuring the prudent underwriting of quality business aligned with the business plan to maximize profit while maintaining the firm's reputation and integrity. You will provide accurate administrative support to the Cyber underwriting team, demonstrating care for customers and adherence to regulatory obligations.

Responsibilities:

Support underwriters by:

• Delivering the agreed business plan
• Reviewing and underwriting Cyber risks, exercising judgment within your authority limits, and in accordance with the business plan
• Building effective relationships within Lloyd's, with peers and brokers
• Reviewing slips and other information, exercising judgment based on your knowledge and experience
• Documenting all customer interactions following company procedures
• Following and maintaining company procedures and systems
• Reviewing and amending existing contracts aligned with underwriting philosophy
• Monitoring risk entries and making necessary amendments
• Being aware of and managing potential risks within your role, reporting significant changes to your line manager

Support Underwriting Assistants by:

• Entering data into systems such as S2000 and other administration tools
• Managing documents and electronic placing documentation
• Reviewing exception reports and managing premium postings
• Assisting with credit control, renewals, and other ad-hoc tasks

Knowledge and Skills:

Basic (Level 2) understanding of:

• Underwriting Principles
• Legal Principles
• FCA and Lloyd’s regulations, including contract certainty
• Company procedures related to your role and supervisory responsibilities
• Cyber Insurance in Lloyd's market
• Market awareness and continuous learning

Diversity, Equity & Inclusion

We promote a diverse and inclusive workforce, recognizing the value of different backgrounds and perspectives. Candidates can request reasonable adjustments during the recruitment process by contacting Talent Acquisition.

Our Commitment to Sustainability and Wellbeing

Our ESG strategy supports environmental, social, and governance initiatives, including community involvement and employee wellbeing programs such as critical illness insurance, health assessments, EV schemes, and professional development support.