Underwriter - 12month FTC

Munich Re; Greater London; On-site; GBP 120,000 - 180,000; Full time

Benefits offered by this job

Private medical insurance

Employer pension

25 days annual leave

Family leave

Job summary

Munich Re Specialty North America - Binding Authorities is a Lloyd’s Broker authorised and regulated by the FCA. We specialise in providing US MGAs with access to Lloyd’s and global partners, and we offer a broad capability to quote and bind risks under in-house binding authorities.

We are seeking a senior underwriting professional to lead management of the Binding Authorities portfolio, oversee coverholders and client relationships, and collaborate across IT, Claims and Accounting to drive

Responsibilities

• Underwriting & Portfolio Management – work with the CUO and Managed Underwriting team to execute the underwriting strategy within authority levels and guidelines
• Manage and steer underwriting results using MI and KPIs, reviewing production, loss experience, exposure, rate adequacy, and pricing discipline
• Assess and refine underwriting guidelines, pricing models, and performance metrics in collaboration with Binding Authorities teams and Corporate Underwriting
• Manage CAT budget allocations and prudent deployment of CAT aggregates
• Support in the oversight of Underwriters and junior staff in the department, providing peer reviews as needed
• Coverholder & Client Management – oversee relationships, conduct audits and due diligence, conduct customer visits and marketing travel
• Policy and underwriting file reviews to ensure accuracy and adherence to standards
• Operational & Cross-Functional Collaboration – collaborate with Corporate Underwriting and cross-functional committees, produce reports
• Develop innovative insurance solutions in cooperation with other units
• Work with IT, Accounting, Claims and other functions to resolve issues
• Other Responsibilities – embody Continuous Conversations, set development commitments and provide constructive feedback
• Benefits – compensation package, target bonus, 25 days annual leave, private medical insurance and employer pension
• All candidates can request reasonable adjustments during the recruitment process

Job description

Introduction

Munich Re Specialty North America - Binding Authorities (formerly Bell & Clements)is a Lloyd’s Broker authorised and regulated by the Financial Conduct Authority. We became part of the Munich Re Group in May 2007.We offer insurance and reinsurance intermediaries throughout the world access to Lloyd’s of London and to London, European and Bermudian companies.

We specialize in providing US Managing General Agents (“MGAs”) with a comprehensive service for surplus lines business. We are acknowledged market leaders in arranging binding authorities for US MGAs and in managing the relationship between the MGA and the insurers.

We also provide, through our MRSNA Underwriting Managers division, a capability to quote and bind a wide variety of risks under our own in-house binding authorities.

PURPOSE OF THE POSITION

To assume a prominent role in all aspects of the management of the Munich Re Specialty – North America Binding Authorities portfolio.This includes the profitable underwriting of delegated business, coverholder oversight, management of Nat Cat budget allocation and Cat aggregate deployment, developing and evaluating new business relationships, conducting underwriting file reviews and detailed analysis of the underwriting results of delegated business.

DUTIES AND RESPONSIBILITIES

Underwriting & Portfolio Management

• Work with the CUO and the rest of the Managed Underwriting team to ensure successful execution of our underwriting strategy and plan, in accordance with applicable underwriting authority levels, underwriting guidelines, internal directives, and client strategies.
• Manage and steer underwriting results for the applicable segments of the portfolio, utilizing MI and KPIs to critically analyse and evaluate the business - including review of production, loss experience, exposure, rate adequacy, and pricing discipline.
• Assess and refine underwriting guidelines, pricing models, and program performance metrics in collaboration and alignment with the rest of the Binding Authorities Underwriting teams and with Corporate Underwriting, where necessary.
• Manage CAT budget allocations and prudent deployment of CAT aggregate for the applicable segments of the portfolio.
• To support in the oversight of the activities of Underwriters and junior members of the Managed Underwriting department as required, as well as providing peer review where needed.

Coverholder & Client Management

• Coverholder oversight - including relationship management, operational reviews, audits, and due diligence to ensure accuracy, consistency, and adherence to standards.
• Conduct customer visits and travel for marketing purposes to play a prominent role in developing and overseeing new and existing business relationships.
• Conduct policy and underwriting file reviews to ensure accuracy, consistency, and adherence to standards.

Operational & Cross-Functional Collaboration

• Collaborate with Corporate Underwriting and actively participate on any cross-functional committees as needed, assisting with the production of reports as required.
• Develop innovative insurance solutions and products in addition to conventional covers in close co-operation with other business units.
• Work closely with IT, Accounting, Claims, and other internal functions to resolve technical, operational, and system-related issues.

Other Responsibilities:

• To embrace and actively implement the core principles of Continuous Conversations (Commitments, Feedback and Development) as part of daily activities and with other colleagues.
• Take ownership of and make personal and professional development a priority as part of Continuous Conversations.
• In line with Continuous Conversations, establish and achieve development aspirations and needs through the setting of commitments and giving and receiving frequent, constructive feedback (referring to resources provided for support).

Benefits

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.

We are one of the few employers to offer fully paid6months 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

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.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Application closing date – 21st August 2026