Assistant Underwriter, Green Solutions

Munich Re; London; On-site; GBP 30,000 - 45,000; Full time

Job summary

A leading company in the insurance sector is seeking an Assistant Underwriter based in London. The role involves prudent underwriting of quality business, providing administrative support, and ensuring compliance with regulatory standards. Ideal candidates will have a solid understanding of insurance principles and a willingness to learn and develop in a dynamic environment.

Benefits

Critical illness insurance

Life assurance

Health schemes

Wellbeing and development programs

Electric Vehicle Salary Sacrifice Scheme

Qualifications

• Understanding of insurance principles and FCA regulations is essential.
• Willingness to develop knowledge through ongoing learning.
• Market awareness and understanding of risk management.

Responsibilities

• Assist in delivering the agreed business plan.
• Underwrite and service Green Solutions risks.
• Provide analytical support using reporting tools.

Skills

Understanding of insurance principles

Knowledge of FCA regulations

Market awareness

Risk management understanding

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 goal.

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 aligned with the business plan to maximize profit while maintaining the firm's reputation and integrity. This includes demonstrating care for customers and respecting regulatory obligations.

You will also provide accurate, high-quality administrative support to the Green Solutions underwriting team, ensuring compliance with regulatory standards and company procedures.

Responsibilities:

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

Knowledge and Skills:

• Understanding of insurance principles, legal principles, and FCA regulations.
• Knowledge of company procedures related to your role.
• Willingness to develop knowledge through ongoing learning.
• Market awareness and understanding of risk management.

Diversity, Equity & Inclusion

Munich Re values diversity, equity, and inclusion, fostering innovation and resilience. We aim to build a diverse workforce and an equitable, inclusive work environment where all can succeed. Candidates can request reasonable adjustments during recruitment.

Our commitment to ESG and employee benefits include:

• Critical illness insurance, life assurance, and health schemes.
• Wellbeing and development programs, including EAP and health assessments.
• Electric Vehicle Salary Sacrifice Scheme.
• Support for professional development and continuing education.