Assistant Underwriter, Cyber

Munich Re Specialty - Global Markets, UK; London; On-site; GBP 35,000 - 50,000; Full time

Job summary

A leading specialty insurance provider seeks a full-time Assistant Underwriter, Cyber in London. The role involves underwriting Cyber risks, supporting the underwriting team, and developing relationships within the Lloyd's market. This position offers the chance to grow in an equitable and innovation-focused environment.

Benefits

25 days annual leave + bank holidays

10% non-contributory pension

Annual bonus eligibility

Private medical and dental insurance

Support for professional development

Hybrid working and home setup support

Qualifications

• Willingness to develop knowledge through continuous learning.

Responsibilities

• Support underwriters in delivering the business plan.
• Review and underwrite Cyber risks within authority limits.
• Develop relationships with peers and brokers.

Skills

Basic understanding of underwriting principles

Knowledge of legal principles and FCA regulations

Understanding of cyber insurance

Ability to recognize and report risks

Job description

About Us

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

Our success is rooted in a strong culture that encourages presence, boldness, and curiosity, enabling individuals to achieve their goals. For more information, please visit our website.

Position: Assistant Underwriter, Cyber

We are seeking a full-time Assistant Underwriter for our London office, reporting to the CUO - Cyber. You will ensure prudent underwriting of quality business aligned with our business plan, maintaining our reputation and integrity, and providing high-quality administrative support to the Cyber underwriting team.

Responsibilities:

1. Support underwriters in delivering the business plan.
2. Review and underwrite Cyber risks, exercising judgment within your authority limits, and in accordance with the underwriting business plan.
3. Develop effective relationships within Lloyd's, including with peers and brokers.
4. Review slips and information, exercising judgment based on knowledge and experience.
5. Record all customer interactions accurately and comply with procedures.
6. Follow and maintain company procedures and systems.
7. Review and amend contracts in line with underwriting philosophy.
8. Monitor risk entry recordings and make necessary adjustments.
9. Identify and report significant risks and control effectiveness to your line manager.
10. Assist in data entry, document management, and administrative tasks related to underwriting.
11. Manage electronic documentation and monitor reports.
12. Support credit control and renewal processes.
13. Perform ad-hoc tasks as required.

Knowledge and Skills:

• Basic understanding of underwriting principles, legal principles, FCA and Lloyd’s regulations, and cyber insurance in Lloyd’s market.
• Awareness of company procedures and market conditions.
• Willingness to develop knowledge through continuous learning.
• Ability to recognize and report risks and controls.

Diversity, Equity & Inclusion

We promote diversity and inclusion, recognizing their importance for innovation and resilience. We are committed to an equitable work environment and welcome adjustments during recruitment upon request.

Sustainability and ESG

Our ESG strategy focuses on environmental, social, and governance impacts, fostering community initiatives and volunteering opportunities.

Benefits:

• 25 days annual leave + bank holidays
• 10% non-contributory pension
• Annual bonus eligibility
• Private medical and dental insurance
• Critical illness, life assurance, and health assessments
• Electric vehicle salary sacrifice
• Support for professional development
• Hybrid working and home setup support

#BePresent #BeBold #BeCurious

For more information about Munich Re and our global presence, visit our website.