Underwriter, Financial Institutions (m/f/d)

Area of Expertise:

Underwriting

Unit:

Allianz Commercial

Employing Entity:

Allianz Global Corporate & Specialty SE

Job Type:

Full-Time

Remote Job:

Hybrid working

Employment Type:

Permanent

ID:

65134

Non-Executive

Underwriter, Financial Institutions (m/f/d)

Let’s care for tomorrow.

Whether it’s aircraft, international business or offshore wind parks, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.

We are looking for an Underwriter, Financial Institutions (m/f/d) based in Frankfurt, alternatively in Munich.

Your Team

Our team at Allianz Commercial is a dynamic group of experienced professionals dedicated to providing tailored financial lines insurance solutions. We work closely with clients, from large multinationals to small businesses, to understand their unique risks and craft customized coverage. With a strong global presence and deep industry expertise, we are committed to protecting financial institutions and individual directors from an ever-evolving landscape of liabilities.

The Impact You Will Have

As an underwriter at Allianz Commercial, you will play a pivotal role in driving our financial lines business forward. Your expertise will directly impact our profitability by securing and renewing high-quality accounts that meet Line of Business (LoB) targets. Through skilled negotiation, you'll optimize participation, pricing, and terms to ensure favorable outcomes.

Some of your specific responsibilities could include:

1. You will underwrite profitable business to meet overall performance targets.
2. You will structure customized solutions in line with the team's underwriting guidelines and underwriting policy for clients and brokers.
3. You will negotiate participation, pricing, and terms with brokers to ensure competitive and profitable outcomes.
4. You will ensure contract certainty is achieved at inception for all accounts.
5. You will utilize global pricing tools to maintain consistency and accuracy in underwriting.
6. You will proactively manage capacity to support business growth while mitigating risks.
7. You will ensure underwriting compliance with governance frameworks, including authorities, guidelines, and rules.
8. You will build and maintain strong relationships with brokers, clients, and key stakeholders while acquisition of new business.
9. You will train, develop, and coach less experienced staff to build team capability and expertise.

What You’ll Bring to the Role

1. You will preferably hold a degree in Economics, Law, or another relevant discipline, or be working towards a professional insurance qualification (e.g., CII).
2. You have at least 2 years of experience in underwriting profitable business within the Line of Business (LoB) with a solid understanding of LoB products and portfolio management.
3. You have experience in Financial Institutions, especially in the banking sector.
4. You have extensive, demonstrable and established relationships with brokers at the peer group level, contributing to successful negotiations and partnerships.
5. You will bring a solid understanding of regional and local LoB insurance markets, along with insight into the competitive landscape.
6. You know the legal and regulatory framework relevant to the insurance industry.
7. You will have experience working in complex, global matrix organizations, collaborating across diverse teams and regions.
8. You will possess excellent communication skills, able to clearly and effectively express ideas and messages both in writing and verbally.
9. You are fluent in English and German, enabling effective communication across multiple markets.
10. You will have strong analytical skills, with the ability to absorb information from various sources, analyze data in detail, and draw appropriate conclusions.

What’s in it for you?

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our culture.

People with disabilities:
We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com

Recruitment Agencies:
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.