Underwriter jobs in United Kingdom

About us

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.

We are currently looking for a Green Solutions Underwriter (Forestry) to work with us on a full-time basis in London, reporting into the Group Head of Carbon Markets & Natural Capital.

We're open to candidates with diverse experience for this role. Whether you have a background as an Underwriter with some exposure to Forestry and are eager to grow within this market, or if you come from a forestry, agriculture, or horticulture-related field and are interested in transitioning into underwriting with training, we'd love to hear from you.

We would also be interested in any individuals who possess geospatial analysis skills, especially GIS (e.g. ArcGIS) competencies, and particularly in application to natural systems.

As the Green Solutions Underwriter (Forestry), you will develop the line of business strategy and grow the commercial forestry insurance portfolio and contribute to the related natural capital insurance businesses within Green Solutions.

The principal role is to underwrite for the Forestry account within the limits as set out in the underwriting authority sheet and ensure timely account servicing to clients and brokers.

This role will be required to maintain, monitor and oversee the administrative aspects of the account, at all times demonstrating care for customers and respect for the regulatory obligations & reputation of the firm.

Responsibilities:

• Facilitate, help develop & grow the commercial forestry insurance business, and support & collaborate with the related natural capital insurance businesses within Green Solutions.
• With respect to underwriting:
• Assess, price, negotiate and underwrite for the Forestry account. Exercise judgement in all underwriting, remaining within underwriting limits as set out in the Underwriting Authority sheet.
• Manage and optimise the Forestry account portfolio, prudently balancing risk and profitability. Make informed decisions, in line with the company's overall risk appetite and strategic objectives.
• Conduct and develop effective business relationships with clients and brokers with a view to both securing new business and retaining existing business.
• Proactively contribute to the continuing development of the relevant models, tools and procedures for pricing, risk analysis, and portfolio risk management.
• Ensure the Forestry account conforms with the principles of Contract Certainty.
• Ensure that all relevant company procedures, processes and systems are followed in a timely and accurate manner; including data entry, credit control, CAT and other risk monitoring, benchmark rating adequacy, exception reports etc.
• Maintain an effective relationship with your line manager, and with all relevant management, oversight and control functions. Be aware of the potential risks facing the business and the controls in place to mitigate them. Understand the appropriate lines for referral and escalation; promptly refer or escalate any concerns, issues, exceptions etc. as appropriate.
• With respect to business development:
• Build and maintain strong relationships with key stakeholders in the forestry sector, including forest owners, timber companies, and other related stakeholders. Use this to inform the continued development and growth of the forestry insurance business.
• Stay abreast of changes and developments in the forestry industry and related insurance sector. Leverage insights to adapt strategies to achieve and maintain a competitive edge.
• Contribute to the design and development of innovative forestry insurance products that are financially viable and responsive to market evolution.
• Support & collaborate with related Green Solutions businesses (incl. Agriculture and Carbon Markets, also Parametrics) to help build a comprehensive natural capital insurance offering.
• Contribute to Green Solution’s role as a thought leader (“green beacon”), particularly in the field of natural capital and sustainable development.

Knowledge and Skills

(Preferred but not essential)

• Intermediate (Level 2) knowledge and understanding of:
• Underwriting Principles;
• Legal Principles;
• FCA and all other relevant rules and regulations;
• All company-specific procedures that relate to own role.
• Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm.
• Develop and maintain market and risk awareness and willingness to continue to develop knowledge of products, underwriting and related issues through formal and informal learning, both internally and externally.

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.

• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support