Underwriting Oversight Analyst

Munich Re; England; On-site; GBP 30,000 - 45,000; Full time

Job summary

A leading specialty insurance provider in the UK is seeking an Associate to join their team. The role involves supporting underwriting processes, conducting performance reviews, and ensuring compliance with regulations. Candidates should have a background in underwriting or insurance analysis, strong analytical skills, and a willingness to learn. This full-time position offers an opportunity to grow within a dynamic and inclusive work environment.

Qualifications

• Experience in underwriting or insurance business analysis.
• Familiarity with FCA/PRA regulations and Lloyd’s oversight principles.
• Strong analytical skills and willingness to learn pricing matters.

Responsibilities

• Benchmark policies and portfolios for performance monitoring.
• Conduct peer reviews and ensure findings are addressed.
• Support underwriters with regulatory compliance.
• Produce underwriting oversight reports.

Skills

Underwriting experience

Insurance business analysis

Knowledge of FCA/PRA regulations

Analytical mindset

Education

University degree

Job description

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

To support and develop the monitoring structure, oversight and operating mechanisms required to aid in meeting expectations under both Munich Group guidelines and the Lloyd’s Principles Based Oversight framework

Responsibilities:

• Assist with benchmarking of policies and portfolios for performance monitoring and supporting overall Portfolio Management
• Conduct regular performance monitoring of peer reviews and 4-eyes reviews, including follow up with Underwriters to ensure findings are appropriately actioned
• Conduct regular sample reviews of LIC risks to support adherence with the LIC operating model, including follow up with Underwriters to communicate findings and detail any appropriate actions
• Provide support to underwriters with understanding, navigating and keeping up to date with latest Munich group and local underwriting policies and guidelines
• Support with production of regular Underwriting Oversight reports for MRSL committees
• Support production of UW reports as required by regulators
• Attend regular team and Underwriter meetings to ensure knowledge and understanding of all relevant topics remains up to date
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.

Knowledge and Skills

• Underwriting and / or Insurance business analyst experience
• Knowledge and understanding of FCA / PRA regulations
• Knowledge of the Lloyd’s Principles for doing business and oversight framework
• Knowledge and understanding of the underlying principles of insurance and reinsurance
• Current Lloyd’s market knowledge
• Analytical mindset
• University degree considered advantageous

Willingness to continue to develop knowledge of any pricing related matters.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. 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.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

Seniority level

Associate

Employment type

Full-time

Job function

General Business, Analyst, and Accounting/Auditing

Industries: Insurance, Financial Services, and Consumer Services