Assistant Underwriter, Liability

AXA UK; London; On-site; GBP 30,000 - 50,000; Full time

Job summary

AXA UK is seeking an Assistant Underwriter to join our Liability team in London. The role involves assisting with the management of a comprehensive Liability portfolio, developing client relationships, and ensuring compliance with regulatory standards. Join our dynamic team to help drive performance while upholding the company’s integrity and customer care.

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

Electric Vehicle Salary Sacrifice Scheme

Study & continuing Professional Development Support

Hybrid Working + IT Home Set-up Support

Qualifications

• Proven experience in Liability (Marine, Energy & Marine Property).
• Understanding of FCA, PRA, and Lloyd's rules.
• Willingness to develop knowledge through formal and informal learning.

Responsibilities

• Assist in managing the Liability portfolio, including performance monitoring and claims trends.
• Conduct and develop effective relationships with Coverholders and Brokers.
• Review slips and endorsements and monitor premium income.

Skills

Management of Liability portfolio

Relationship management

Data entry

Pricing and rate monitoring

Job description

Company

Munich Re Specialty - Global Markets

Location

London , United Kingdom

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.

Please see our website for more information.

Assistant Underwriter, Liability

We are currently looking for an Assistant Underwriter to work with us on a full-time basis in our London office,reporting into the Group Head of Liability.

The ideal candidate will have proven experience in Liability(Marine, Energy & Marine Property).

You will be assisting the Liability Underwriters in the prudent underwriting of quality Marine and Energy Liability (including Marine Property) business in line with 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.

Responsibilities:

• Assist in the effective management of the Liability portfolio, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits; referring to Underwriters and Group Head of Liability when appropriate.
• Support accurate and timely data entry of all Liability risks in line with Syndicate procedures
• Conduct and develop effective relationships with Coverholders and Brokers, to both strengthen existing trading relationships and secure new business that falls within the Underwriting business plan
• Review slips and endorsements along with other placing information and literature, working with Liability team colleagues to ensure the account remains within the Underwriting business plan;
• Review rate structures, quote engines, pricing tools, underwriting guides, policy wordings and supporting documentation, working with Liability team colleagues and other stakeholders to ensure they are appropriate for the portfolio of business;
• Regularly monitor the written and signed premium income of the Liability account;
• Managing risk management surveys
• Pricing and rate monitoring of facultative business and binders
• Undertake peer review in accordance with the peer review process
• Monitor on an ongoing basis exposures and aggregates to ensure that acceptances are within agreed limits;
• Provide supporting data and reports for team meetings, internal and external meetings, and business plans as and when required;
• Attend and contribute to regular and ad-hoc Liability team meetings, meetings with colleagues within MRSL and MRSG, and meetings with brokers, assureds, suppliers and other entities.
• Ensure that company procedures and systems are followed and maintained, as per procedures and compliance manuals;
• Monitor renewal reports and chase outstanding renewal business;
• Provide support to manager on team and MRSL strategic initiatives.
• Any other ad-hoc tasks as necessary and directed by the Liability underwriting team.

Knowledge and Skills

Knowledge and understanding of:

1. Underlying Principles of Insurance;
2. Legal Principles;
3. FCA, PRA and Lloyd’s rules and regulations, including conduct risk and contract certainty issues;
4. Lloyd’s insurance market;
5. Delegated property business.

• Able to demonstrate clear understanding of all company specific procedures that relate to own role;
• Able to demonstrate growing understanding of the roles of colleagues and their relationships to the structure and business plans of the firm;
• Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
• 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.

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.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

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.

Learn more about sustainability at Munich Re– choose your impact!

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

#BePresent#BeBold#BeCurious