Senior Underwriting Risk Analyst

Markel Corporation; Greater London; Hybrid; GBP 65,000 - 90,000; Full time

Benefits offered by this job

Annual bonus

Pension scheme

Private medical cover

Life assurance

Travel insurance

Job summary

Markel is seeking an Underwriting Risk Analyst to join the USP team, shaping risk appetite and monitoring exposures across Markel International. The role provides exposure to multiple insurance classes and supports profitable portfolio growth.

You will work closely with underwriting, actuarial, exposure management and reinsurance teams to deliver insight, challenge and governance across risk frameworks. Flexible patterns may be considered.

Qualifications

• Strong analytical, problem-solving and organisational skills.
• Excellent communication and stakeholder management.
• Ability to work independently on complex analysis while managing multiple priorities.

Responsibilities

• Support the Head of Underwriting Risk and the International CUO in developing and owning the company’s appetite for volatility around the business plan combined ratio.
• Provide analysis and reporting to identify sources of volatility, including perils and emerging risks.
• Monitor portfolio trends and risk indicators; support live event response reporting.
• Develop scenarios, stress tests and risk assessments to support underwriting decision‑making.
• Prepare analysis and materials for the Underwriting Risk Group and governance forums.
• Collaborate with Exposure Management, Actuarial, Risk Management, Reinsurance and Underwriting teams.
• Analyse specific and systemic risks to Markel International’s product portfolio including external trends.
• Promote a culture of risk awareness and transparent reporting across underwriting divisions.
• Continuously improve underwriting risk practices using industry developments.

Skills

Analytical thinking

Stakeholder management

Excel / BI tools

Underwriting knowledge

CAT modelling

Tools

Excel

Power BI

Job description

Are you looking for a career where you can make a real impact? At Markel, we believe what we do matters. Insurance is more than a policy; it’s a promise that enables individuals and businesses to move forward with confidence. We are proud of our people‑first culture, our entrepreneurial approach, and our commitment to finding solutions to complex risks. As we continue to grow, we are looking for an Underwriting Risk Analyst to join our Underwriting Strategy & Performance (USP) team. This is an exciting opportunity to work at the centre of underwriting decision‑making, helping shape risk appetite, identify emerging exposures, and support profitable portfolio growth across Markel International. What part will you play? If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem‑solvers. We’re always pushing each other to go further because we believe that when we realise our potential, we can help others reach theirs. Join us and play your part in something special!

The opportunity:

The Underwriting Strategy & Performance (USP) team exists to enable profitable underwriting by supporting strong decision‑making, portfolio optimisation and effective governance. We work in partnership with underwriting teams and business leaders to provide insight, challenge and oversight. Our team brings together expertise across underwriting performance, underwriting risk, technical underwriting, wordings, reinsurance and underwriting oversight. The Underwriting Risk Analyst will support the development, monitoring and management of underwriting risk across Markel International. Working closely with underwriting, actuarial, exposure management, reinsurance and enterprise risk teams, you will provide insight and analysis that helps the business understand and manage volatility, accumulation risk and emerging threats. This role offers a unique opportunity to gain exposure to a broad range of insurance classes and strategic underwriting decisions while contributing to the continued development of Markel's underwriting risk framework.

What you’ll be doing:

• Support the Head of Underwriting Risk and the International CUO develop and own the company’s appetite for volatility around the business plan combined ratio.
• Provide analysis and reporting to help identify sources of such volatility, including natural and non‑natural perils and emerging risks.
• Monitor portfolio trends and risk indicators, highlighting areas requiring management attention and support live event response reporting.
• Develop scenarios, stress tests and risk assessments to support underwriting decision‑making.
• Prepare analysis and materials for the Underwriting Risk Group and related governance forums.
• Work collaboratively with Exposure Management, Actuarial, Risk Management, Reinsurance and Underwriting teams.
• Be aware of, and provide analysis on, the specific and systemic risks to Markel International’s product portfolio including the impact of external political, economic, social and technological trends that may affect levels of risk.
• Promote a culture of risk awareness and transparent reporting across underwriting divisions.
• Continuously improve Markel’s best practices in underwriting risk management, using developments both within and outside the insurance industry.

Our must‑haves:

• We are looking for someone who is curious, analytical and passionate about understanding risk.
• Strong analytical, problem‑solving and organisational skills.
• The ability to work independently on complex analysis while managing multiple priorities.
• Excellent communication and stakeholder management.
• Advanced Microsoft Office skills and experience using reporting, analytics or business intelligence tools.
• Knowledge of catastrophe modelling, exposure management or broader underwriting risk tools, techniques and best practices.
• A sound understanding of insurance and reinsurance principles.
• Progress towards, or interest in pursuing, relevant insurance or risk management qualifications would be beneficial, though not essential.
• Study support may be available.

Who we are:

Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.

We are also happy to consider candidates who are looking for flexible working patterns.

Markel celebrates the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided with all reasonable accommodations to be able to participate in the job application or interview process and to perform essential job functions if successful.

What’s in it for you?

• A great starting salary plus annual bonus & strong benefits package.
• 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave.
• Fantastic company pension scheme, private medical and dental cover, life assurance, travel insurance cover, income protection, season ticket loan as well as other great benefits on offer.
• There are countless opportunities to learn new skills and develop in your career and we can provide the support needed to do just that!