Global Head of Natural Resources

Allianz; Greater London; Hybrid; GBP 180,000 - 270,000; Full time

Job summary

Allianz Commercial seeks a Global Head of Natural Resources Underwriting. Lead a high-performing, global underwriting team across oil & gas, power, renewables, upstream and mining. Shape strategy, governance, pricing tools, and talent development while embedding sustainability and ESG in underwriting decisions.

This senior role combines commercial ambition with industry leadership, aiming to expand market presence and deliver profitable growth across multiple markets. Hybrid work model offered.

Qualifications

• Deep knowledge of Natural Resources insurance products across global markets.
• Expert understanding of global LoB insurance markets and regulatory framework.
• Strong relationship-building with brokers and key clients.

Responsibilities

• Lead and manage a global underwriting team across Oil & Gas, Power, Renewables, Upstream and Mining.
• Define and execute the global underwriting strategy for profitable growth.
• Steer and control the portfolio globally to meet financial targets and planning.
• Drive a coherent global underwriting governance framework and standards.
• Collaborate with Product Management to develop and price new/modified products.
• Engage Distribution, Claims, Operations to secure cross-functional collaboration.

Skills

Natural Resources insurance

Leadership & global teams

AI/ML insights

Job description

We are looking for a Global Head of Natural Resources Underwriting.

Your Team

Our Global Natural Resources line of business sits at the forefront of the energy transition, providing specialist insurance and risk consulting solutions across green energy, oil and gas, power generation, and mining. From offshore wind farms and solar projects to refineries, power plants, and open-pit mining operations, we help some of the world's largest energy and natural resource companies manage their most complex risks.

The Impact You Will Have

As Global Head of Natural Resources, you will shape and drive the underwriting strategy across our Oil & Gas, Power Generation, Renewables, Upstream, and Mining portfolios — steering a global book of business to deliver significant returns while ensuring we remain a market leader. You will lead and inspire a high-performing global underwriting team, setting a consistent and disciplined approach to risk selection while creating innovative market solutions that set us apart from the competition. With ESG and the energy transition at the heart of our agenda, you will work closely with our ESG Climate Solutions team to embed sustainability into our underwriting strategy, ensuring we are not just responding to change — but leading it. This is a role where commercial ambition meets real-world impact.

Some of your specific responsibilities could include:

Lead and Manage

• Lead and manage global team, including direct reports and matrix management of functional reports
• Ensure Organizational structure and process best fit to service external and internal customers.
• Support the build out of an industry vertical focused on bringing all of Allianz's capabilities to our clients/brokers
• Lead and manage a global project team, including direct reports and matrix management of functional reports
• Review current UW authority structure to ensure best fit to serve external and internal customers
• Review reporting lines (direct / matrix)
• Manage cost center budgets within plan

Underwriting Strategy

• Develop, define and execute global strategy for line of business to drive profitable growth and a leading market position - Drive hub and spoke model with integration across Large Corp and Mid Corp
• Identify market opportunities, including potential markets, target segments and clients, in liaison with Distribution, R&M and OEs
• Establish a robust People strategy aimed at culture of training, staff retention, internal promotion and thought leadership
• Align UW to specific UW lines while ensuring cross collaboration and training
• Develop in house training to develop incumbent and incoming employees to expand their expertise across multiple products with particular focus on renewable energy.
• Multi-class underwriting capabilities across 1st and 3rd party lines
• Reviewing UW year loss development patterns and underlying profitability over 5 years
• Align UW, engineers and claims to Specialty Target Operating Model

Steering and Controlling

• Steer and control line of business portfolio globally to drive achievement of financial targets (e.g. full combined ratio)
• Drive underwriting planning process and monitor adherence to plan with Global Portfolio Steering
• Proactively manage global underwriting treaty portfolio (in liaison with RI)

Global Underwriting Approach

• Drive and proactively monitor a consistent and coherent global underwriting governance framework
• Drive development and implementation of global underwriting Rules and Principles, guidelines and best practice processes and standards
• Assign underwriting authorities worldwide, ensuring robust, efficient controls in place
• Review operating structure including cross line client involvement.

Product Development

• Work with Product Management to proactively drive development and implementation of new and modified products
• Maximise efficiencies of product range
• Proactively support development and implementation of pricing tools
• Understand the existing Natural Resources portfolio (UW and investments) and profitability across Allianz Corporate at a minor line level
• Review of current pricing tools, and rate adequacy within each portfolio

Market & Relationship Management

• Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary)
• Positively represent AGCS internally within the Allianz Group, and externally to the market
• Proactively drive involvement of functional areas in Underwriting process, including Distribution, ARC, Claims, Operations
• Develop our Differentiated Value Proposition
• Determine market share and capability and peer capabilities compared with Allianz Commercial

What You’ll Bring to the Role:

• A deep knowledge of Natural Resources insurance products across global markets
• Expert understanding of global LoB insurance markets and competitor landscape. Expert understanding of legal and regulatory framework.
• Well recognized relationship building with brokers at peer group level and well established within local market.
• Significant experience in leadership and development of direct teams internationally and within complex global matrix environments.
• Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.
• Ability to express ideas and messages clearly, both written and verbally. Ability to "sell" an improvised or prepared audience winning story.
• Ability to persuade and motivate others to act, without executive authority.
• Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.
• Ability to lead and manage a team of underwriters. Includes the ability to delegate tasks, steer team direction/goals, etc.
• A deep knowledge of artificial intelligence (AI) and machine learning (ML), with the ability to leverage AI-drive insights to shape strategic decisions and drive innovation across the organization

105973 | Underwriting | Management | Allianz Commercial | Full-Time | Permanent

What’s in it for you?

Let’s care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back. – Please do not include this paragraph for South Africa

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

People with disabilities:

We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email [e-mail]

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us. Let’s care for tomorrow.

Having different strengths, experiences, perspectives and approaches is an integral part of Allianz' company culture. One means to achieve this is a regular rotation of Allianz Executive employees across functions, Allianz entities and geographies. Therefore, the company expects from its employees a general openness and a high motivation to regularly change positions and collect experiences across Allianz Group.