Manager/Deputy/Assistant Manager, Underwriting

MS FIRST CAPITAL INSURANCE LIMITED; Singapore; On-site; SGD 80,000 - 100,000; Full time

Job summary

A leading insurer in Singapore is seeking a highly experienced Underwriter to manage and underwrite Non-Marine insurance policies for large and complex commercial risks. Candidates should possess at least 10 years of relevant experience, particularly in the Middle East/APAC regions. This role offers career development and competitive compensation in a collaborative work environment.

Qualifications

• At least 10 years' experience in large/complex commercial risks segment.
• Specific experience in the Middle East and/or APAC region is an added bonus.
• Ability to identify and interpret data for decision-making.

Responsibilities

• Underwrite Non-Marine insurance policies for large and complex risks.
• Manage broker relations and communicate effectively.
• Negotiate terms with brokers/customers and manage a portfolio of accounts.
• Ensure compliance with laws and company policies.

Skills

Re/insurance underwriting experience

Knowledge of commercial insurance underwriting process

Risk analysis skills

Ability to interpret insurance conditions

Education

Degree in engineering or related technical discipline

SCI qualification/Membership of Chartered Insurance Institute (UK)

Job description

This is a perfect gateway into the highly niche sector of non-life re/insurance, part of Singapore's bustling financial services sector. As a wholly-owned entity of the world-renowned Mitsui Sumitomo Insurance (MSI) Group, we are dedicated to developing young talents for our sector.

As a member of our leadership team, you can look forward to career development, professional training, a friendly and collaborative culture and a competitive compensation package.

Responsibilities

• Underwrite Non-Marine (Property, Construction, Energy, Engineering and Liability) insurance policies/covers for large and complex commercial risks in Singapore and other Middle East/APAC territories
• Manage ongoing insurance broker relations and expectations in relation to underwriting, co‑ordinating and ensuring the flow of relevant and timely information and communication between internal functions and external parties
• Contribute to managing and developing an agreed portfolio of accounts, negotiate with brokers/customers to achieve favourable terms for the Company
• Underwrite allocated cases in line with the agreed processes with the necessary senior direction and support; underwrite risks in accordance with the Company’s capacity and risk appetite
• Review relevant classes of proposals (case by case) and make balanced and well‑reasoned recommendation for acceptance of each case above one’s authority
• Provide error‑free documentation to brokers/customers
• Ensure transactions are processed within the agreed timeframe; supervise and guide the allocated processing team to ensure timely and accurate recording of transactions
• Ensure compliance with all laws, regulations, and guidelines, including internal policies, rules and procedures
• Develop own skills/knowledge in the functional area with the aim of enhancing the quality of work and achievement of KPIs

Requirements

• At least 10 years' re/insurance underwriting experience in large/complex commercial risks segment; specific experience in the Middle East and/or APAC region is an added bonus
• SCI qualification/Membership of Chartered Insurance Institute (UK) or equivalent; a Degree in engineering or a related technical discipline will be ideal
• Compensation and job title will be commensurate with the candidate’s experience level; salary range stated in this job posting is meant as a guide only
• Knowledge/understanding of the risks underwritten in corporate/commercial segment
• Knowledge of commercial insurance underwriting process and market practices
• Understanding of reinsurance concept and practices
• Experience of conducting risk surveys
• Ability to understand/ interpret insurance conditions, clauses and warranties
• Ability to identify, analyse and interpret data, statistics and information for evidence‑based decision‑making

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