Underwriter, Offshore Renewables & Upstream Energy

Allianz; City of Westminster; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading insurance company in London is seeking an experienced underwriter to manage Offshore Renewables and Upstream Energy accounts. The ideal candidate will have significant experience in underwriting and a strong understanding of the Offshore Energy market. This role requires excellent analytical skills and the ability to negotiate with brokers effectively, as well as the capability to build lasting relationships within the industry.

Qualifications

• Significant experience in underwriting profitable business in the Offshore Energy market.
• Good understanding of regional/local Offshore Energy insurance markets.
• Excellent communication skills and ability to influence others.

Responsibilities

• Underwrite new and renewal accounts to meet targets.
• Negotiate pricing and terms with brokers.
• Proactively manage exposure and capacity.

Skills

Underwriting experience in Offshore Energy

Negotiation skills

Analytical skills

Strong communication skills

Education

ACII qualification or equivalent

Job description

Overview

Based in London and reporting to the Regional Head, you will underwrite profitable new and renewal business to meet the business targets encompassing Offshore Renewables and Upstream Energy. You will also be negotiating participation, pricing and terms and conditions. You will take ownership of accounts and clients, as well as developing and maintaining relationships with existing and new brokers and clients.

Responsibilities

• Underwrite new and renewal accounts to meet top and bottom line targets
• Negotiate participation, pricing and terms and conditions with brokers
• Proactively manage exposure and capacity
• Underwrite and evaluate capacity aggregations including Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios
• Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary)
• Proactively liaise with Market Management & Distribution (MMC) on market management initiatives
• Positively represent Allianz Commercial externally to the market
• Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g. risk managers)
• Training, developing and coaching of less experienced staff (including Junior Underwriters, Operations and Credit Control)
• Significant experience in underwriting profitable business in the Offshore Energy market
• Recognized relationships with brokers at peer group level and well established within market
• Good understanding of regional/local Offshore Energy insurance markets and competitor landscape, including global elements
• Ability to assess risk inherent exposures and natural hazards relevant to the line of business
• Ability to analyse current performance against benchmarks applying how the market operates and functions, the business needs and customer needs
• Ability to design, develop and implement consistent, robust wordings
• Excellent understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation
• Excellent communication skills and ability to create relationships and communicate clearly at all levels and with a wide range of people
• Ability to influence and motivate others to act, without executive authority
• Excellent analytical skills
• Ideally ACII qualified or equivalent
• Ability to integrate AI-driven insights into your work to optimize outcomes and support broader organizational goals

Qualifications

• Significant experience in underwriting profitable business in the Offshore Energy market
• Recognized relationships with brokers at peer group level and well established within market
• Good understanding of regional/local Offshore Energy insurance markets and competitor landscape, including global elements
• Ability to assess risk inherent exposures and natural hazards relevant to the line of business
• Ability to analyse current performance against benchmarks applying how the market operates and functions, the business needs and customer needs
• Ability to design, develop and implement consistent, robust wordings
• Excellent understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation
• Excellent communication skills and ability to create relationships and communicate clearly at all levels and with a wide range of people
• Ability to influence and motivate others to act, without executive authority
• Excellent analytical skills
• Ideally ACII qualified or equivalent
• Ability to integrate AI-driven insights into your work to optimize outcomes and support broader organizational goals