Underwriter II - Energy Transition

AXA Group; Greater London; On-site; GBP 55,000 - 75,000; Full time

Job summary

A global insurance and risk management firm seeks an Underwriter II to oversee profitable underwriting in the energy transition sector. The successful candidate will have significant experience with renewable risks and the ability to analyze complex data while maintaining strong relationships with clients. This role requires excellent communication skills and a collaborative mindset. Attractive rewards and a commitment to sustainability are parts of the offering.

Benefits

Competitive compensation

Diversity and inclusion initiatives

Flexible working arrangements

Qualifications

• Demonstrated experience in underwriting, especially in Energy sectors.
• Ability to work with significant limits under technical direction.
• Possesses advanced skills in analysis and project management.

Responsibilities

• Deliver a profitable underwriting service to clients.
• Review submissions and manage risks effectively.
• Build and maintain relationships with brokers and clients.

Skills

Underwriting experience within Energy Transition and Renewables

Analytical skills

Excellent written and oral communication skills

Interpersonal savvy

Collaborative team player

Job description

AXA XL is looking for an Underwriter with experience in writing Renewable risks as part of an overall energy transition (ET) business portfolio.

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 and learning and development.

This is a difficult area for underwriting; it will require an agile mindset, balancing a portfolio approach with the fundamentals of underwriting – whilst maintaining a keen eye on profitability. The right candidate will be able to draw upon a solid background of technical underwriting in engineering / renewables / power, or a similarly complex line of business.

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.

You will have the support of highly qualified & experienced Energy Transition risk engineers to keep abreast of the latest developments in technology, and actuaries to help you quantify and price these risks.

You will also be working alongside an established team of Upstream, Downstream, Power and Construction underwriters.

The ET book will be the cornerstone to helping to meet AXA XL’s net-zero underwriting goals and a key contributor to its wider energy transition journey. It will be important to be visible and approachable to brokers and clients alike. Effective verbal and written communication skills, along with collaborative behaviour will be essential to the role.

This is a regulated role under the Central Bank of Ireland’s Fitness and Probity regime.

What you’ll be doing

As an Underwriter II, you will be responsible for delivering a profitable ‘Underwriting’ service to your clients. Your 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?

• 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.

You will report to the Underwriting Manager, Energy Transition - UK and Lloyd’s.

What you’ll bring

We’re looking for someone who has these abilities and skills:

• 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.

What we offer

Inclusion

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 and enables business growth and is critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.

• 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

Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.

Total Rewards

AXA XL’s Reward program is designed to take care of what matters most to you, covering the full picture of your health, wellbeing, lifestyle and financial security. It provides competitive compensation and personalized, inclusive benefits that evolve as you do.

We’re committed to rewarding your contribution for the long term, so you can be your best self today and look forward to the future with confidence.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever‑changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023‑26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

Our Pillars:

• 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.

For more information, please see axaxl.com/sustainability.

Who we are

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.

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