Portfolio Underwriting Manager

IDEX Consulting; Greater London; On-site; GBP 100,000 - 150,000; Full time

Job summary

IDEX Consulting is seeking an experienced Portfolio Underwriting Manager to own underwriting profitability across its portfolio. You will lead the selection, monitoring and performance management of MGAs and classes of business underwritten by the insurer.

You will conduct technical due diligence on MGAs, review guidelines and pricing models, and oversee performance metrics, ensuring alignment with strategic risk and reinsurance arrangements.

Qualifications

• Proven class underwriting experience across Property, Casualty, Financial Lines, Aviation, Marine.
• Extensive underwriting and performance management experience.
• Strong portfolio management and analytical capability.
• Experience with reinsurance structures and arrangements.
• Current knowledge of underwriting best practice in pricing and risk selection.

Responsibilities

• Conduct technical due diligence on around 20 MGAs, evaluating product design, distribution, underwriting risks and controls.
• Review and approve underwriting guidelines, pricing models, and Binding Authority structures.
• Own monthly, quarterly and annual performance monitoring across the portfolio.
• Oversee MGA performance and KPIs, including pricing adequacy and loss ratio.
• Partner with MGAs and reinsurers on portfolio enhancements across mix, pricing, product and terms.
• Lead technical audits across all classes of business.
• Manage exposure at class, product, geography, risk and peril levels; coordinate with catastrophe modellers on PML assessments.
• Review reinsurance arrangements with the Reinsurance Placement Officer.
• Run quarterly performance reviews with actuarial and finance teams.
• Work with Program Managers on underwriting requirements.

Skills

Underwriting experience

Portfolio management

Analytical capability

Reinsurance knowledge

Pricing and risk selection

Job description

Our client, a specialty insurance group, is looking for an experienced Portfolio Underwriting Manager to take ownership of the underwriting profitability of its portfolio. Working closely with the CUO, you will lead the selection, monitoring and performance management of the MGAs and classes of business the company underwrites.

The Role

• Conduct technical due diligence on around 20 MGAs, including evaluation of product design and distribution, underwriting risks and controls, historical performance, and the technical capability of MGA underwriting teams
• Review and approve underwriting guidelines, pricing models, underwriting authority structures, and parameters for Binding Authority Agreements
• Own monthly, quarterly and annual performance monitoring across the portfolio
• Oversee MGA performance and KPIs, including pricing adequacy, adherence to Binding Authority Agreements, ultimate loss ratio and performance mix
• Partner with MGAs and reinsurers on portfolio enhancements covering mix, pricing, product and terms and conditions
• Lead technical audits across all classes of business
• Manage exposure at class, product, geography, risk and peril level, coordinating with third-party catastrophe modellers on 1-in-250 and 1-in-500 year PML assessments as required
• Review reinsurance arrangements alongside the Reinsurance Placement Officer and liaise with reinsurers on performance and MGA management
• Run quarterly performance reviews with the actuarial and finance teams
• Work with Program Managers on underwriting requirements

About You

Essential:

• Proven class underwriting experience (e.g. Property, Casualty, Financial Lines, Aviation, Marine)
• Extensive underwriting and performance management experience
• Strong portfolio management and analytical capability
• Experience with reinsurance structures and arrangements
• Current, actively maintained knowledge of underwriting best practice in pricing and risk selection

Desirable:

• Underwriting experience gained at an insurer and/or an MGA
• Depth of knowledge across multiple classes of business
• Prior experience in a Portfolio Management or Underwriting Management role
• Familiarity with, or exposure to, reinsurance

For more information contact Ian at IDEX

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