Underwriter / Senior Underwriter Energy Underwriting

Kuwait Reinsurance Company; Kuwait City; On-site; KWD 15,000 - 30,000; Full time

Job summary

A leading company in the reinsurance sector is seeking an Underwriter for their energy downstream portfolio. The role involves overseeing workflows, managing underwriting tasks, and developing strong relationships with brokers to ensure compliance and best practices in risk assessment. Ideal candidates will have a background in finance or business, with proven negotiation and relationship management skills.

Qualifications

• Experience in energy underwriting or relevant field is preferred.
• Strong understanding of market developments and portfolio management.
• Excellent communication and interpersonal skills.

Responsibilities

• Manage the energy downstream portfolio and oversee workflows.
• Ensure compliance with company guidelines and maintain work quality.
• Negotiate contracts with brokers and assess risks effectively.

Skills

Negotiation

Risk Assessment

Relationship Management

Attention to Detail

Education

Bachelor's degree in Finance, Business, or related field

Job description

Oversee the downstream energy team workflow and work to achieve the department and origination goals. Specifically, responsible for the production and management of the energy downstream portfolio.

Description:

• Ensure regular meetings are held with other underwriting assistants to discuss energy matters.
• Oversee the general functioning of the teams and individuals, ensuring standards are maintained in work quality, attendance, and punctuality.
• Counter sign email offers to brokers, provided the underwriter has already signed the file with an self-explanatory offer.
• Counter sign slips/endorsements where the underwriter has given unqualified agreement and no outstanding subjectivities/warranties remain.
• Support the Underwriter, including responsibilities like premium income monitoring and aggregation reporting.
• Agree on wordings from London market brokers where a full MRS slip has been agreed, incorporating common manuscript wordings (e.g., WELCAR, LSW244, EED8/86).
• Agree on endorsements from London market brokers deemed to be Slip Leader or Slip Leader and Agreement Parties, as per GUA Marine Energy Schedule June 2003. No authority is granted for All Underwriter endorsements.
• Decline business not deemed suitable for Kuwait Re where the account handler also deems the submission a decline.
• Ensure compliance with company guidelines on aggregations for monthly reports on key exposure concerns.
• Negotiate with brokers and draft contracts.
• Gather and assess background information to evaluate risks effectively.
• Utilize market, industrial, and other sources to stay informed about technical factors and developments relevant to portfolio underwriting and the oil & gas industry.
• Assist in the development and enhancement of underwriting systems where applicable.
• Maintain detailed and accurate records of risks underwritten and decisions made.
• Develop and maintain effective relationships with agents, brokers, and internal/external clients to attract, develop, and retain profitable business.
• Attend market conferences and liaise with brokers to foster good working relationships.
• Assist with other duties as required by the manager.
• Perform any additional responsibilities relevant to the department, as assigned by the department manager.

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