Underwriter - Property Facultative

HFG; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading Lloyd's Syndicate in the City of London is seeking a Property Facultative Underwriter with over 4 years of experience. The role focuses on international business, managing a heavy fire severe book, and involves complex reinsurance activities. Candidates with primary insurance experience are encouraged to apply.

Qualifications

• 4+ years of experience underwriting Property business.
• Experience in international business and XOL basis.

Responsibilities

• Assist in creating and implementing the business plan for the portfolio.
• Underwrite complex reinsurance risks in line with the business plan.

Skills

Underwriting

Risk Assessment

Negotiation

Job description

New Vacancy - Underwriter (Property Facultative)
Lloyd's Syndicate
City of London

I am currently recruiting for a leading Lloyd's Syndicate seeking a Property Facultative Underwriter to join their growing team.

My client is looking for someone with 4+ years of experience underwriting Property business, primarily from a Facultative perspective. The role will focus on international business and writing on an XOL basis, but candidates with experience in primary insurance are also encouraged to apply. This position will be part of a team of 6, managing a heavy fire severe book.

Key Responsibilities

1. Assist in creating and implementing the business plan for the portfolio.
2. Support the execution of the business plan, making informed decisions as needed.
3. Participate in meetings to exchange ideas, strategies, and best practices.
4. Promote the department, division, and company to enhance brand visibility.
5. Implement reinsurance strategies to protect the portfolio.
6. Manage complex reinsurance activities in compliance with legal and regulatory standards.
7. Adhere to underwriting standards, guidelines, and best practices to minimize risk and improve efficiency.
8. Accurately record and assess insurance risks, including Delegated Underwriting Authorities (DUAs), and develop or adjust policy wordings as necessary.
9. Apply reinsurance requirements to mitigate risk and meet business objectives.
10. Enhance technical knowledge through continuous learning and development.
11. Underwrite complex reinsurance risks in line with the business plan and delegated authority, negotiating rates, terms, and conditions, and ensuring compliance with regulations. Assist with credit control and payment collections.
12. Review and analyze the portfolio regularly to assess progress toward business goals, including audits and account performance.
13. Ensure thorough risk assessment through peer reviews and compliance with underwriting standards and authorities.