Property Facultative Underwriter - Reinsurance (Surat)

Santam Insurance; Surat; On-site; INR 2,500,000 - 4,200,000; Full time

Job summary

Santam Ltd. IIO - GIFT City is seeking an experienced Property Facultative Reinsurance Underwriter for its GIFT City office.

The role involves underwriting and managing Property Facultative Reinsurance for India and other approved territories, with governance and peer review guiding decisions. Initial work with the Head Office underwriting team, evolving authority with demonstrated performance, reporting to the Principal Officer & Country Head - India Operations.

Qualifications

• 8–10 years of Property Reinsurance Underwriting experience, preferably Facultative.
• Experience with international reinsurers, Lloyd's, or global insurers is preferred.
• Strong technical underwriting and risk assessment skills.
• Understanding of industrial occupancies, engineering risks and CAT exposures.
• Excellent negotiation, communication, and relationship management skills.
• Self-motivated with the ability to work independently in a dynamic environment.
• Bachelor's degree in Engineering, Commerce, Finance, Insurance, or related discipline.
• Professional qualifications (FIII, ACII, CPCU) are a plus.

Responsibilities

• Underwrite Property Facultative Reinsurance risks per guidelines and delegated authority.
• Analyse submissions: risk information, claims history, engineering reports, financials, wordings.
• Assess CAT exposures and portfolio accumulations.
• Price risks and prepare underwriting recommendations.
• Negotiate terms, conditions, and pricing with brokers and cedants.
• Develop and maintain broker, cedant, and partner relationships.
• Support business development and identify underwriting opportunities.
• Monitor portfolio performance, profitability, and exposure management.
• Ensure compliance with IFSCA regulations and governance standards.
• Collaborate with underwriting, actuarial, claims, finance, and operations teams.
• Prepare underwriting reports and MI for portfolio monitoring.

Skills

Property underwriting

CAT exposure management

Risk analysis

Financial analysis

Negotiation & relationships

Communication skills

Independent work

Education

Bachelor's degree in Engineering, Commerce, Finance, Insurance, or related

FIII / ACII / CPCU or equivalent certification

Tools

Microsoft Excel

PowerPoint

Underwriting systems

Job description

Property Facultative Underwriter - Reinsurance

Location: GIFT City, Gandhinagar, Gujarat, India

Company: Santam Ltd. IIO - GIFT City

What will you do

Santam Ltd. IIO is seeking an experienced Property Facultative Underwriter to join its GIFT City office. The successful candidate will be responsible for underwriting and managing Property Facultative Reinsurance business originating from India and other approved territories, while maintaining underwriting discipline and supporting the company's profitable growth strategy.

During the initial phase of employment, the successful candidate will work closely with Santam's Head Office underwriting team. Underwriting decisions and recommendations will be subject to a peer review process to ensure alignment with Santam's global underwriting philosophy, technical standards, and governance framework.

As the individual gains familiarity with Santam's underwriting guidelines and demonstrates consistent underwriting performance, an appropriate level of underwriting authority will be delegated in accordance with the Company's governance framework.

The selected candidate will report directly to the Principal Officer & Country Head - India Operations.

What will make you successful

Key Responsibilities:

• Underwrite Property Facultative Reinsurance risks in accordance with Santam's underwriting guidelines and delegated authority limits.
• Analyse underwriting submissions, including risk information, claims history, engineering reports, financial information, and policy wordings.
• Assess natural catastrophe (CAT) exposures and portfolio accumulations.
• Price risks and prepare underwriting recommendations.
• Negotiate terms, conditions, and pricing with brokers and cedants.
• Develop and maintain strong relationships with brokers, cedants, and business partners.
• Support business development initiatives and identify recent underwriting opportunities.
• Monitor portfolio performance, profitability, and exposure management.
• Ensure compliance with IFSCA regulations, internal governance standards, and underwriting guidelines.
• Work closely with underwriting, actuarial, claims, finance, and operations teams.
• Prepare underwriting reports and management information for portfolio monitoring.

Qualifications & Experience:

• 8-10 years of experience in Property Reinsurance Underwriting, preferably in Facultative Reinsurance.
• Experience with an international reinsurer, Lloyd's syndicate, or a global insurance/reinsurance organisation will be highly preferred.
• Strong technical underwriting and risk assessment skills.
• Sound understanding of industrial occupancies, engineering risks, natural catastrophe exposures, and policy wordings.
• Excellent negotiation, communication, and relationship management skills.
• Strong analytical and decision-making abilities.
• Self-motivated with the ability to work independently in a dynamic and entrepreneurial environment.
• Bachelor's degree in Engineering, Commerce, Finance, Insurance, or a related discipline.
• Professional qualifications such as FIII, ACII, CPCU, or equivalent will be an added advantage.

Skills:

• Property Facultative Reinsurance Underwriting
• CAT Exposure and accumulation management
• Technical risk analysis and pricing
• Financial analysis
• Broker and cedant relationship management
• Excellent written and verbal communication
• Proficiency in Microsoft Excel, Power Point, and underwriting systems .