Underwriter

Munich Re; London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading insurance company is seeking an Underwriter for their Professional Risks team in London. The role involves underwriting professional indemnity business, engaging with clients, and contributing to team development. Ideal candidates will have strong technical knowledge and experience in the London Market.

Benefits

25 days annual leave

Private medical insurance

Employer's contributory pension of 10%

Fully paid 6 months family leave

Qualifications

• Significant experience underwriting Architects and Engineers, Contractors and Solicitors.
• Excellent technical knowledge of professional indemnity underwriting.

Responsibilities

• Underwrite UK, US and international professional indemnity business.
• Attend client meetings and contribute to business development.
• Build relationships with other Munich Re entities.

Skills

Communication

Negotiation

Technical Knowledge

Customer Focus

Job description

Company
Great Lakes Insurance SE
Location
London, United Kingdom

About us:

Munich Re Facultative & Corporate (MR F&C) is responsible for all single-risk business written on a facultative reinsurance or direct basis.

We are looking for someone to join the Professional Risks team and underwrite new and renewal UK, US and international professional indemnity business in accordance with agreed business plan/guidelines and within the job holders designated authority.

The job is a front line role with daily broker contact and direct contact with clients, as well as internal liaison with other units within Munich Re.

Key Responsibilities

• Underwrite within a delegated authority UK, US and other international professional indemnity business
• Attend client meetings including appropriate travel as necessary
• Marketing and broker development
• Contribute to the technical development and knowledge within the Professional Risks Team
• Identify and develop opportunities for new business
• Build good working relationships with other Munich Re business units to enhance the position of F&C within the Group and to assist in the development of the account.

General Duties and Tasks

• Build relationships with other Munich Re entities to enhance the position of F&C London within the Group and to assist the development of the account
• Share best practice and relevant information/expertise with the Professional Risks team and wider F&C/Munich Re community
• Remain up to date with legal/market developments concerning the lines of business
• Represent the Professional Risks team as reasonably required at internal/external meetings and on internal/external committees. This will include making presentations, attending client and industry dinners etc.
• Work closely with Professional Risks Manager on various portfolio steering and monitoring initiatives
• Perform other job-related tasks as may reasonably be required by the Professional Risks Manager or by others as agreed.

Key Skills & Experience

• Excellent technical knowledge of professional indemnity underwriting, with significant experience underwriting Architects and Engineers, Contractors and Solicitors, among other PI classes
• Strong knowledge of the legal background to the class in the UK and an awareness of other main jurisdictions
• Detailed understanding of policy wordings
• Significant London Market experience working in the classes of business
• Excellent communication and negotiation skills

Drives results – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind

Decision quality – you make good and timely decisions to keep things moving, using analysis, experience and judgement

Customer focus –you build and maintain strong customer relationships, paying attention to their needs and adapting as this evolves

Persuades –you use compelling arguments to gain the support, buy-in and commitment of others.

• Cultivates innovation – you create new and better ways for Munich Re to be successful e.g. generating ideas, improving operational processes, harnessing new technology etc.
• Manages ambiguity – you continue to operate effectively even when things are uncertain and the way forward is unclear.
• Confidence in yourself and your own abilities - you are confident to address difficult issues and challenge the status quo.

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

We are one of the few employers to offer fully paid 6months family leave for times when you need it the most.

About us

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!