Property Insurance Underwriters

Santam Insurance; Ahmedabad District; On-site; INR 2,500,000 - 4,500,000; Full time

Job summary

Santam Ltd. IIO GIFT City., located in Gandhinagar, Gujarat, India, seeks an experienced Property Facultative Underwriter to join its team.

The role involves underwriting and managing Property Facultative Reinsurance business originating from India and approved territories, under governance aligned with Santam’s standards.

Qualifications

• 8-10 years of Property Reinsurance Underwriting experience, preferably Facultative.
• Experience with international reinsurer/Lloyd’s syndicate or global insurer is highly preferred.
• Strong technical underwriting and risk assessment skills.

Responsibilities

• Underwrite Property Facultative Reinsurance risks per guidelines and delegated authority.
• Analyse submissions: risk info, 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.
• Maintain relationships with brokers, cedants and partners.

Skills

Property Facultative Reinsurance Under

CAT Exposure

Technical risk analysis

Financial analysis

Broker relations

Communication skills

MS Excel/PowerPoint

Education

Bachelor’s degree in Engineering, Commerce, Finance, Insurance

FIII/ACII/CPCU or equivalent (plus)

Job description

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.

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 new 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 is 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 are a plus.

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, PowerPoint, and underwriting systems