Assistant Underwriter, Green Solutions

Munich Re Specialty - Global Markets; City Of London; On-site; GBP 40,000 - 55,000; Full time

Job summary

A leading specialty insurance provider in London is seeking an Assistant Underwriter for Green Solutions. The role involves prudent underwriting aligned with business goals and ensuring compliance with regulations. The ideal candidate will have knowledge of insurance principles and green solutions, with a preference for candidates holding a degree in engineering and Spanish-speaking abilities. This position offers competitive benefits and a supportive work environment.

Benefits

25 days Annual Leave

10% Non-contributory Pension

Annual Bonus eligibility

Private Medical and Dental Insurance

Critical illness insurance

Wellbeing and Development Scheme

Hybrid Working

Study and Professional Development Support

Qualifications

• Ensure prudent underwriting of quality business.
• Provide high-quality administrative services.
• Continue to develop market awareness.

Responsibilities

• Support underwriters and deliver business plans.
• Underwrite and service Green Solutions risks.
• Complete management reports and exposure data.

Skills

Knowledge and understanding of Underlying Principles of Insurance

Legal Principles

FCA and rules and regulations

Lloyd’s regulations

Green Solutions Insurance knowledge

Spanish speaking ability

Education

Degree in engineering

Tools

MS Excel

S2000

Qlikview

Riskmapper

RMS for CAT Modelling

Job description

About us

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

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Assistant Underwriter, Green Solutions

We are currently looking for an Assistant Underwriter, Green Solutions to work with us on a full-time basis in our London office, reporting into the CUO- Green Solutions.

You will ensure the prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm. To provide accurate and high quality administrative services to the Green Solutions underwriting team, demonstrating care for customers and respect for the regulatory obligations of the Syndicate.

Responsibilities

• Support underwriters as required in : To assist delivering the agreed business plan
• Underwrite and service Green Solutions risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan;
• Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
• Provide Analytical Support as follows : S2000 – risk entry, report production using MS Excel; Use of S2000 and Qlikview reporting.
• Supervise and assist Underwriting Assistants in monitoring of income flows (late premiums / adjustments etc);
• Tracking and monitoring of all risk bordereaux from all coverholders and facilities.
• Ensure all administrative processes are undertaken smoothly from Underwriting Delivery Team as per SLA
• Complete tasks as following : Benchmark pricing and rate monitoring for all accounts.
• Use of RIskmapper and RMS for CAT Modelling
• Assist Debt Management team on recovering debts
• Completion of Technical Review sheet as per guidelines
• Provide management reports, exposure data and other data as and when required.
• Monitor recording of risk entry and amend where appropriate;
• Review daily claims report;
• Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Account;
• Make written records of all material conversations with customers, both internal and external, in accordance with the firm’s procedures manual.
• Assist Underwriting Assistants as may be required in order to support the business.
• Any other ad-hoc tasks as necessary

Knowledge and Skills

• Knowledge and understanding of : Underlying Principles of Insurance;
• Legal Principles;
• FCA and rules and regulations, including contract certainty issues;
• Lloyd’s regulations;
• Green Solutions Insurance as traded in the Lloyd’s market
• Demonstrate clear understanding of all company specific procedures that relate to own role;
• Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
• Develop and maintain market awareness.
• Be aware of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
• Degree in engineering preferred but not mandatory
• Spanish speaking ability preferred

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

– choose your impact!

#BePresent #BeBold #BeCurious

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support