CUO, Active Underwriter, MRSL

Munich Re Group; City Of London; On-site; GBP 220,000 - 320,000; Full time

Job summary

Munich Re Specialty - Global Markets in London seeks a Chief Underwriting Officer to lead the underwriting strategy and execution for the London platform, including the Lloyd’s syndicate with substantial capacity. This high‑impact role demands disciplined portfolio performance, technical excellence and the ability to build a confident, commercially minded underwriting team.

You will collaborate across actuarial, risk and capital teams, strengthen broker relationships and ensure rigorous

Qualifications

• Senior underwriting experience, ideally in Lloyd’s or complex specialty insurance.
• Proven leadership of underwriting teams in a matrixed organisation.
• Track record in portfolio management, profitability and disciplined risk selection.
• Strong stakeholder collaboration with brokers and senior leadership.
• Understanding of specialty insurance products, Lloyd’s dynamics and regulation.

Responsibilities

• Hold accountability for London’s technical underwriting, risk portfolio and financial performance.
• Drive a long-term underwriting strategy balancing current market conditions and trends.
• Lead underwriting with ~6 direct reports and ~120 underwriters.
• Support Guidewire transformation and other digital platform deliveries.
• Strengthen broker relationships and local distribution strategy.
• Delegate authority to accept and bind complex global risks within regulatory regimes.
• Ensure underwriting policy, authorities, pricing standards and controls.
• Provide senior technical escalation for high-risk decisions.
• Develop underwriting talent and align resources with portfolio needs.
• Collaborate with Actuarial, Capital and Exposure Management on risk matters.

Skills

Senior underwriting leadership

Lloyd's underwriting experience

Portfolio risk management

Stakeholder collaboration

Regulatory awareness

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.

Please see our website for more information.

Chief Underwriting Officer (Active Underwriter)

The Chief Underwriting Officer (CUO) - London will lead the underwriting strategy, performance and execution of Munich Re Specialty’s London underwriting platform, including the Lloyd’s syndicate platform. The syndicate has an agreed capacity of £1.5bn (2026) and is considered an ‘outperforming’ syndicate by Lloyd’s.

This is a high-impact leadership role, accountable for disciplined portfolio performance, technical excellence and the continued development of a confident, commercially minded underwriting team.

Reporting to the London & Global Products regional CEO, the role forms part of the regional executive team and carries SMF23 accountability. Beyond underwriting, the individual will help shape the syndicate’s broader strategic direction, bringing energy, pace and commercial judgement to key business decisions.

The role will also have a matrix reporting line to the Munich Re Specialty - Global Markets Chief Underwriting Officer and will contribute to the global underwriting leadership agenda.

Responsibilities:

• Hold ultimate accountability for London’s technical underwriting, risk portfolio and financial performance, including ownership of the business plan through the Group and Lloyd’s SBF planning cycle.
• Set and drive a sustainable long-term underwriting strategy, balancing current market conditions with emerging industry trends and opportunities.
• Lead the underwriting function, with responsibility for approximately 6 direct reports and a wider team of around 120 underwriters.
• Work with the Group’s Change and IT teams to support the Guidewire transformation project, in addition to any other digital / technology platform deliveries which will drive long term sustainable change in the syndicate.
• Act as a visible external advocate for Munich Re Specialty and the syndicate, strengthening broker relationships and supporting an empowered, locally relevant distribution strategy.
• Carry primary delegated authority from the Managing Agent to accept and bind complex global risks, operating within the FCA and PRA Senior Managers and Certification Regime.
• Working with Group Corporate Underwriting, ensure underwriting policy, authorities, pricing standards, referral processes, escalation protocols and controls are applied consistently and effectively.
• Act as the senior technical escalation point for complex or high-risk underwriting decisions, bringing clarity, judgement and pace.
• Lead corrective underwriting actions to improve profitability, portfolio quality and long-term sustainability.
• Drive technical excellence through file reviews, audits, quality assurance and practical coaching that builds the underwriter of the future while respecting experience.
• Work closely with Actuarial, Capital and Exposure Management teams on reinsurance, aggregate monitoring and peak exposure management.
• Partner with Risk, Compliance, Operations and other key stakeholders to maintain strong underwriting governance and fit-for-purpose processes.
• Lead, develop and deploy underwriting talent effectively, aligning resource with strategic priorities and portfolio needs.

Knowledge and Skills

• A visible, energetic leadership style, with the vigour to challenge constructively, move at pace and inspire high performance.
• Significant senior underwriting experience, ideally within Lloyd’s or a complex specialty insurance environment.
• Proven leadership of underwriting teams in a complex, matrixed organisation.
• Strong track record in portfolio management, underwriting profitability and disciplined risk selection.
• Commercially sharp, collaborative and confident working with senior stakeholders, brokers and leadership teams.
• High integrity, sound judgement and the credibility to operate successfully in a regulated senior management role.
• Deep understanding of specialty insurance products, Lloyd’s market dynamics and the regulatory landscape.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

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!

#BePresent #BeBold #BeCurious