Senior Surety Underwriter

Zurich; Greater London; Hybrid; GBP 75,000 - 110,000; Full time

Benefits offered by this job

Pension scheme 12%

Annual bonus

Private medical insurance

Holiday buy/sell

Job summary

Zurich Insurance is recruiting a Senior Surety Underwriter in London. You will be a key member of the Surety Underwriting team, underwriting complex UK contract and commercial surety risks, while delivering excellent service to brokers and customers.

You will negotiate wordings, support credit committees and help grow our surety portfolio. The role offers hybrid working with office days in London and flexible arrangements.

Qualifications

• Proven experience in underwriting UK Contract and Commercial Surety.
• Strong financial analysis skills to assess creditworthiness of Surety clients.
• Solid understanding of indemnity structures and their practical application.
• Collaborative approach and a strong team player.
• In-depth knowledge of Surety bond wordings and related documentation.

Responsibilities

• Underwrite facilities and bonds within underwriting authority and provide recommendations for approval by credit committee for facilities and bonds outside authority.
• Participate on credit committees with authority to approve larger facilities and bonds.
• Negotiate bond wordings, indemnities and other recourse documents with solicitors and clients.
• Act as referral point for bond enquiries, indemnity and recourse documentation.
• Develop a pipeline of facility and bond enquiries through client, Zurich relationships, cross selling and broker relationships.
• Identify and develop new surety products and target segments.
• Implement new operational improvements.

Skills

Underwriting experience

Financial analysis

Indemnity structures

Team player

Surety bonds

UK market contacts

Job description

Working hours: This role is available on a part-time, job-share or full-time basis.

Salary: Competitive salary plus an excellent benefits package!

Location: London – hybrid working with at least 3 days in our Mark Lane office.

The opportunity:

Are you an experienced underwriter in UK Contract and Commercial Surety, ready to take the next step? Or perhaps a senior underwriter with extensive experience looking to bring your expertise to play a pivotal role in driving the success of our Surety business at the heart of the London Market?If so, we would love to hear from you!

Joining our Commercial Insurance business in London, you’ll be a key member of our Surety Underwriting team, helping to grow our portfolio by delivering exceptional service and underwriting expertise to brokers and customers.

As a Senior Surety Underwriter, you’ll take on significant responsibility for underwriting complex contract and commercial Surety risks, ensuring every decision aligns with our strategies, guidelines, authorities, and pricing frameworks. Your expertise will make a direct impact on the achievement of our Surety business’s strategic and operational objectives.

Many of our employees work flexibly in a variety of different ways, including part-time, flexible hours, job share, an element of working from home or compressed hours. This is because we want the best people for our roles, and we recognise that sometimes those people aren’t available full-time. Please talk to us at interview about the flexibility you may need.

What will you be doing?

• The facility and bond underwriting within individual underwriting authority and for providing recommendations for approval by credit committee for facilities and bonds outside of individual underwriting authority.
• Participation on credit committees with authority alongside other credit committee members to approve larger facilities and bonds underwritten by Zurich’s UK Surety team.
• Negotiate bond wordings, indemnities and other recourse documents for new and existing facilities including negotiations with external solicitors and clients.
• Act as referral point for other members of the team for bond enquiries, indemnity and recourse documentation.
• Develop a pipeline of facility and bond enquiries through client, internal Zurich relationships, cross selling and broker relationships.
• Identifying and developing new surety products and target segments.
• Implementing new operational improvements.

What are we looking for?

• Proven experience in underwriting UK Contract and Commercial Surety business
• Strong financial analysis skills, with the ability to review and interpret financial statements to assess the creditworthiness of Surety clients
• Solid understanding of indemnity structures and how they apply in practice
• Collaborative approach and a strong team player
• In-depth knowledge of Surety bond wordings and associated documentation
• Ideally, a well-established network of contacts within the UK Surety market

What will you get in return?

Everyone’s different. That’s why at Zurich, we offer a wide range of employee benefits so our people can choose what fits them and their life. Our benefits provide real flexibility so our people can make considered choices and tailor their benefits throughout the year. Our benefits include 12% defined non-contributory pension scheme, annual company bonus, private medical insurance and the option to buy up to an additional 20 days or sell some of your holiday.

Follow the link for more information about our benefits - Employee benefits | Working at Zurich Insurance UK

Who we are:

At Zurich we aspire to be one of the most responsible and impactful businesses in the world. Together, we’re creating a brighter future for our customers, our people and our planet.

With over 65,000 employees, you’ll feel the support of being part of a strong and stable company that is a long-standing player in the insurance industry.

We’ve made a promise to each other and every employee: to focus on sustainable impact, to care about each other’s wellbeing, to use our diverse expertise to be curious and optimistic and to develop the skills needed for our future.

If you’re interested in working in a dynamic and challenging environment where your creativity, ideas and contributions are recognised and rewarded, Zurich could be just the place for you. Be part of something great.

Our Culture:

At Zurich, our strength comes from the diverse experiences, perspectives and talents of our people. Our goal is to create a workplace where every employee can flourish and where everyone feels valued, heard and respected.

Over a quarter of our employees are members of at least one of our inclusion communities (Employee Resource Groups), with groups focused on areas such as social mobility and cultural awareness. We’re proud to have received numerous industry awards recognising our diversity and inclusion policies and initiatives.

We’ve created an environment that places real importance on our people’s wellbeing from a physical, mental, social and financial perspective. We work with our wellbeing partners and industry experts to provide practical advice and access to a wide range of lifestyle support, alongside opportunities to learn, grow and develop the skills needed for the future.

We actively support our employees to give back to their communities through volunteering and charitable activity. Our charitable arm, Zurich Community Trust, is one of the longest‑established corporate trusts in the UK. Together, we’ve supported causes across the UK through grants and volunteering, contributing over £100 million in funding and volunteered time.

Your application:

We’re committed to treating all applicants fairly and with respect, irrespective of their actual or assumed background, sexual orientation, disability or any other protected characteristic.

As an inclusive employer we also want to ensure that all candidates feel comfortable and are able to perform at their best during the interview. You’ll have the opportunity to let us know of any reasonable adjustment or practical support needed when you apply.