Underwriter II - Energy Transition

AXA; City of Westminster; On-site; GBP 40,000 - 60,000; Full time

Job summary

A global insurance leader in the City of Westminster is seeking an experienced Underwriter to manage renewable risks as part of a sustainability strategy. You will be responsible for underwriting within a defined business plan, assessing risks, and ensuring profitability through effective client and broker relationship management. The ideal candidate will have demonstrated expertise in energy transition underwriting, strong communication skills, and the ability to work collaboratively. This role offers a supportive work culture that embraces diversity and sustainability.

Benefits

Flexible working arrangements

Family-friendly leave benefits

Diversity and inclusion programs

Qualifications

• Proven experience in underwriting renewable energy projects.
• Ability to work within significant limits and authority on complex assignments.
• Strong understanding of product and industry related to renewables.

Responsibilities

• Oversee underwriting business within the agreed business plan.
• Review submissions and conduct research to determine risk.
• Maintain awareness of claims and help in settlement.

Skills

Effective verbal and written communication skills

Demonstrated underwriting experience within Energy Transition and Renewables

Advanced analytical, project and research skills

Interpersonal Savvy

Collaborative team player

Job description

Overview

AXA XL is looking for an Underwriter with experience in writing Renewable risks as part of an overall energy transition (ET) business portfolio. The energy transition is integral to the drive towards a more sustainable global economy. Supporting the transition is a key part of our climate and sustainability strategy at AXA XL. AXA XL's energy transition work begins, naturally, with the energy portfolio - but this is a drive that affects the entire economy. And to help enable this transition, there are, in effect, three pillars that our energy transition activities and ambitions must straddle: products and services; distribution; and capability. As an Underwriter II, you will be responsible for delivering a profitable "Underwriting" service to your clients. You key tasks include: underwriting business within the agreed business plan and individual authority; supporting the business planning and forecasting process; monitoring financial exposure within outlined limits; monitoring premium income to ensure it remains within set limits; maintaining awareness of all claims advised while supporting and providing input on settlement of claims; ensuring adequate reinsurance acquired to cover specific risks; building and maintaining relationships with brokers and clients; supporting the design and structure of risks. What will your essential responsibilities include?

Responsibilities

• Reviewing submissions including applications, policy wording, inspection reports, loss runs, and financial reports while conducting appropriate research to determine degree of risk for each account.
• Calculating appropriate risk premium by considering the risk costs inherent to the Energy sector, reinsurance cessions as well as the Underwriting and general administration costs while ensuring profitability.
• Proactively advising, assisting, servicing and following up with clients on insurance and risk management matters to ensure satisfaction and fulfillment of their insurance requirements.
• Effective relationship management to initiate opportunities for cross-selling offered products and ensuring account retention.
• Controlling timely implementation of new and renewed accounts according to quality standards.
• In coordination with other internal teams, determining appropriate reinsurance for risk placements both on excess of loss and quota share basis.
• Reviewing loss control reports and managing policy endorsement requests to process any necessary changes to the policy.
• Support the business planning and forecasting process; monitor financial exposure within outlined limits; monitor premium income to ensure it remains within set limits.
• Maintain awareness of all claims advised while supporting and providing input on settlement of claims.
• Working collaboratively in a team environment, assisting underwriters, underwriting assistants and management team.

Qualifications

Effective verbal and written communication skills, along with collaborative,

• Demonstrated Underwriting experience within Energy Transition and Renewables.
• Under technical direction, works within significant limits and authority on assignments of higher technical complexity and coordination.
• Possesses demonstrated technical underwriting knowledge and skills, including product and industry, reflective of successful progression through various job family levels.
• Advanced analytical, project and research skills.
• Excellent written and oral communication skills.
• Interpersonal Savvy – Demonstrated ability to build and maintain robust insured and broker contacts.
• Ability to develop and understand business processes, strategy and planning.
• Collaborative team player who provides creative solutions and ideas for resolution.

Benefits

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
• Robust support for Flexible Working Arrangements.
• Enhanced family-friendly leave benefits.
• Named to the Diversity Best Practices Index.
• Signatory to the UK Women in Finance Charter.

AXA XL has been underwriting coverage for renewable energy projects, particularly solar, wind and hydroelectric operations, for some years now. And we are actively working with clients to provide coverage for a wide range of renewable energy technologies and operations, from windfarms to hydrogen production, to bioenergy to carbon capture underground storage (CCUS) and many others.

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture enables business growth and is critical to our success.

Sustainability

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems – the foundation of a sustainable planet and society – are essential to our future. We're committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We're training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.

AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL's "Hearts in Action" programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business – property, casualty, professional, financial lines and specialty. With an innovative and flexible approach to risk solutions, we partner with those who move the world forward. Learn more at axaxl.com.

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it.