Assistant Underwriter, Green Solutions

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

Job summary

A leading company in the insurance sector is seeking an Assistant Underwriter in London. This role involves prudent underwriting of quality business, providing administrative support to the Green Solutions team, and ensuring compliance with regulatory standards. The ideal candidate will possess a strong understanding of insurance principles and demonstrate a commitment to ongoing learning.

Benefits

Critical illness insurance

Life assurance

Health insurance

Wellbeing schemes

Electric Vehicle Salary Sacrifice Scheme

Support for professional development

Qualifications

• Understanding of insurance and legal principles.
• Willingness to develop knowledge through ongoing learning.

Responsibilities

• Assist in delivering the agreed business plan.
• Underwrite and service Green Solutions risks.
• Provide analytical support and generate management reports.

Skills

Insurance principles

Legal principles

FCA regulations

Market awareness

Tools

MS Excel

S2000

Qlikview

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.

Our success is rooted in a strong culture where people are encouraged to be present, bold, and curious, enabling them to achieve their individual goals.

We are currently seeking an Assistant Underwriter based in London, on a full-time basis, reporting to the Head of Renewables.

Your role will involve ensuring the prudent underwriting of quality business in line with the business plan to maximize profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respecting regulatory obligations.

You will also provide high-quality administrative support to the Green Solutions underwriting team, demonstrating care for customers and compliance with regulatory standards, particularly of the Syndicate.

Responsibilities:

1. Assist in delivering the agreed business plan.
2. Underwrite and service Green Solutions risks, exercising judgment within your underwriting limits, and in accordance with the business plan.
3. Record all material conversations with customers, internal and external, following the firm’s procedures.
4. Follow and maintain company procedures and systems as per manuals.
5. Monitor and amend risk entries as needed.
6. Review daily claims reports.
7. Ensure the Peer Review Group receives appropriate information and responds to queries.
8. Provide analytical support, including risk entry and report production using MS Excel, S2000, and Qlikview reporting tools.
9. Supervise and assist Underwriting Assistants with monitoring income flows.
10. Generate management reports as required.
11. Benchmark pricing and monitor rates across accounts.
12. Enter aggregation data onto the ‘Exact’ system and collaborate with the exposure management team.
13. Support Underwriting Assistants in their tasks as needed.
14. Perform any other ad-hoc tasks necessary.
15. Promote good conduct to deliver the best outcomes for customers and policyholders.
16. Understand escalation procedures and responsibilities related to conduct risk management.
17. Identify and report potential risks within your role and the effectiveness of controls to your manager in a timely manner.

Knowledge and Skills

Understanding of:

• Insurance principles
• Legal principles
• FCA regulations and contract certainty issues
• Company-specific procedures related to your role
• Willingness to develop knowledge through ongoing learning
• Market awareness

Diversity, Equity & Inclusion

We foster innovation and resilience through DEI, recognizing its importance in building a diverse, inclusive, and equitable workforce. We support candidates requesting reasonable adjustments during recruitment.

Our ESG Commitment

Our approach to ESG aims to seize opportunities and foster an inclusive environment, supporting community initiatives and offering volunteering opportunities.

• Critical illness insurance, life assurance, and health insurance
• Wellbeing schemes, EAP, and health assessments (subject to eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Support for professional development and continuing education