Broker

Munich Re; City Of London; Hybrid; GBP 50,000 - 70,000; Full time

Job summary

A leading insurance firm is looking for a Broker in London to manage and negotiate business with clients in the Lloyd's market. The ideal candidate will have strong negotiation skills, with a background in underwriting or broking. This position offers flexible working arrangements and opportunities for professional growth. Annual salary is dependent on experience and includes various employee benefits.

Benefits

Private medical insurance

Annual health and wellbeing allowance

Flexible working hours

Professional qualification support

Generous family leave policy

Social events

Qualifications

• Proven experience in broking or underwriting within the Lloyd's market.
• Strong analytical skills to support data-related decisions.
• Creative thinking to identify new business opportunities.

Responsibilities

• Manage and negotiate new and renewal business with clients.
• Prepare renewal presentations and monitoring contracts.
• Support the data analytics team to enhance reporting.

Skills

Negotiation

Relationship management

Data analysis

Education

Relevant insurance qualifications

Tools

Data analytics tools

Job description

Munich Re Specialty North America is a leading expert in understanding and connecting US coverholders and brokers to flexible and innovative insurance solutions. We are also a registered Lloyd's Broker. As a wholly owned subsidiary of Munich Re, we have access to the expertise, products and risk appetite of one of the largest and most successful insurance groups in the world.

We are specialists in offering expertise in underwriting, broking and capacity management for US Excess and Surplus (E&S) lines insurance solutions. The unique combination of broking and underwriting divisions provides the ability to quote and bind risks through inhouse binding authorities, while providing customers with access to Lloyd's, London Market companies, and Munich Re owned capacity in Germany and the US.

We are a responsible employer, with a reputation for innovation and adding value in the insurance distribution chain. As a wholly owned subsidiary of Munich Re, we have access to the expertise, products, risk appetite and career development opportunities of one of the largest and most successful insurance groups in the world.

The Role: Broker based in London offices

Purpose of the Position: To manage and negotiate new and renewal business with Lloyd's, London market companies, and clients. This includes producing presentation material, handling data and performance analysis, and developing business relationships.

Key Responsibilities

Broking Responsibilities

• Develop and maintain strong relationships with clients and markets
• Manage end-to-end placement of assigned contracts, including:
• Preparing renewal presentations
• Monitoring US contract renewals to ensure timely issuance
• Producing performance-related data and statistical analysis
• Completing broking documentation (broking checklist, business plan, market sheets, TCF forms)
• Clearing temp table transactions
• Liaise with Claims and Underwriting (in-house and GLISE) to resolve queries
• Handle new and renewal open market risks
• Identify and develop new business opportunities
• Support the data analytics team in enhancing reporting capabilities
• Ensure data accuracy and completeness to support departmental needs
• Assist the Chief Broking Officer and Head of Broking as needed
• Contribute to team development and knowledge sharing

Other Responsibilities

• Resolve internal and external queries proactively
• Escalate complex issues to senior staff as appropriate
• Participate in US travel and client visits as required
• Engage with Continuous Conversations for performance and development
• Set and work towards personal and professional development goals
• Comply with all company policies and procedures
• This position is offered on a Permanent basis.
• Annual salary will be dependent on the skills and experience of the successful candidate.
• Annual leave - 25 days per year (plus bank holidays), increases with length of service.
• Health & Wellbeing - our offering includes private medical insurance for employees, their partners and their families, a Digital GP service and an annual allowance (currently £550) any activities which supports health and wellbeing.
• Hybrid and remote working - to support your work balance we have introduced hybrid working. You will be provided with support to work from home up to a maximum of three days per week.
• Flexible working hours - the opportunity to flex your working hours.
• Professional Qualification Support - (discretionary) financial support covering the cost of professional qualifications, including institute membership, exams, study materials and completion bonuses.
• Generous gender-neutral family leave policy - employees with 26 weeks' continuous service at the Expected Week of Childbirth are eligible to receive 26 weeks full pay.
• Team fun - warm and social culture with regular get togethers.

About us

We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning. We are empathetic and know when to lead and know when to let others lead.

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn. We support business, in an efficient and effective way, to create value for our clients.

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

Munich Re is committed to building an equitable and inclusive work environment where diversity is celebrated, valued, and has equitable opportunities to succeed. We encourage you to apply if you are excited about this role but your experience does not align perfectly with everything outlined.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.