Senior Portfolio Underwriter - SCOR Business Solutions (SBS)

SCOR; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A global insurance company based in London is seeking an experienced Underwriter to manage and develop credit portfolios. Responsibilities include overseeing renewals and client engagements, negotiating service agreements, and contributing to business strategy. Ideal candidates will possess extensive experience in credit underwriting, strong negotiation skills, and a commitment to compliance with underwriting policies. The role offers opportunities for career advancement and involvement in senior stakeholder engagement.

Qualifications

• Extensive experience in credit underwriting or portfolio management.
• Proven ability to negotiate terms with stakeholders.
• Deep understanding of complex credit structures and risk.

Responsibilities

• Manage existing portfolio programs including renewals and client meetings.
• Negotiate bespoke service lines and ensure adherence to underwriting parameters.
• Develop and expand the portfolio business line under the Global Line Head.

Skills

Credit risk assessment

Financial analysis

Underwriting skills

Negotiation

Relationship management

Education

Relevant university degree or equivalent

A Level or equivalent qualifications

Job description

Responsibilities

• Manage existing portfolio programs (renewals, endorsements, risk and client visits, client meetings, claims involvement).
• Contribute positively to the overall results of SCOR Business Solutions (SBS) with demonstrably sound technical and profitable underwriting.
• Develop SCOR’s market share and leadership position.
• Negotiate bespoke service lines specific wordings.
• Represent SCOR at international events, both general industry conferences and client hosted annual conferences.
• Explore opportunities to delegation and ensuring adherence to existing underwriting parameters and consistency where PCR delegates.
• Developing PCR’s pragmatic underwriting approach.
• Support the PCR Global Line Head to develop and expand the portfolio business line.
• Lead the underwriting of new and existing portfolios of counterparty credit risks, including complex and high-value exposures.
• Receive, select and evaluate offers of business from various sources, calculate ratings and negotiate the bespoke wordings of the contracts.
• Generate and originate new offers and promote SCOR by pro‑active marketing in accordance with the strategy and guidelines defined in the SBS Roadmap and relevant guidelines.
• Maintain accurate records of quotes, risks accepted and declinatures.
• Control and verify premium income according to business plan.
• Oversee the submission of special acceptances to SCOR Underwriting Committee and Reinsurers for those deals which fall outside Underwriting Guidelines and pre‑agreed reinsurance treaty terms.
• Monitor portfolio performance and risk metrics across sectors and geographies.
• Set key underwriting thresholds and ensure these are reported and monitored on an ongoing basis.
• Work with the portfolio analyst to identify portfolio risk concentrations, trends, and propose proactive mitigation strategies.
• Support portfolio optimization initiatives to improve risk‑adjusted returns.
• Ensure underwriting decisions comply with internal credit policies and external regulations.
• Contribute to the development and refinement of underwriting frameworks and risk appetite statements.
• Assist the Global Line Head to produce reports of various formats for reporting purposes as required.
• Contribute to the claims settlement process in conjunction with the claims department.
• Ensure compliance with all relevant international licensing requirements for SCOR’s various offices.
• Work with PCR head of credit risk analysis to design reporting procedures.
• Maintain and develop relationships with clients and brokers; travel as and when required to do so.
• Attend market, broker and client hosted events.
• Attend SCOR’s Lloyd’s box to service brokers submissions and endorsements, and negotiate policy terms.
• Represent SCOR on the LMA panel on an ad‑hoc basis.
• Provide guidance and oversight to junior underwriters and the portfolio analyst.
• Initially, this role does not have reporting responsibilities, but these may emerge over time.

Qualifications

• Educated to A Level, or equivalent qualifications.
• Relevant university degree, or equivalence.

Desirable

• ACII Qualified.
• Actuarial background.

Experience (Essential)

• Extensive experience in credit underwriting, portfolio management, or related roles.
• Deep understanding of credit risk, financial analysis, and counterparty assessment.
• Experience with complex credit structures, syndicated lending, or derivatives (as applicable).
• Proven underwriting skills including wording negotiation.
• Good market relationships.
• Established client relationships.
• Experience of writing international business.

Experience (Desired)

• Experience of presenting to reinsurers.
• Experience of writing direct (i.e. non‑brokered) international business.
• Experience in the London insurance market.

Competencies

• Sound technical portfolio underwriting skills.
• Excellent written and verbal communication, especially for senior stakeholder engagement.
• Ability to manage competing priorities and make sound judgements under pressure.
• Knowledge of competitors, cedants, reinsurers and brokers within the London market and internationally.
• Commercial and tactical vision.
• Ability to successfully negotiate face‑to‑face with brokers.
• Ability to lead business.
• Ability to promote the underwriting policy.
• Able to adapt well to SCOR structure and philosophy, which includes technical underwriting and technical referrals.
• Ability to quickly acquire a thorough understanding of SCOR’s underwriting policy and guidelines.
• Team player as well as capable of working on own initiative.