Manager/Deputy/Assistant Manager, Underwriting

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

Job summary

A leading insurance company in Singapore is seeking an experienced Underwriter to manage and underwrite Non-Marine insurance policies for large commercial risks. You will engage with brokers, negotiate terms, and ensure compliance with regulations. The ideal candidate has over 10 years of underwriting experience, preferably in the Middle East or APAC region, and holds relevant insurance qualifications. This position offers competitive compensation and professional development opportunities.

Benefits

Career development opportunities

Professional training

Competitive compensation package

Qualifications

• 10+ years of underwriting experience in large/complex commercial risks.
• Specific experience in Middle East and/or APAC region is a bonus.
• Knowledge of commercial insurance underwriting processes.

Responsibilities

• Underwrite Non-Marine insurance policies for large commercial risks.
• Manage relationships with insurance brokers.
• Negotiate favorable terms for the company's portfolio.

Skills

Underwriting Large/Complex Risks

Broker Management

Negotiation

Risk Analysis

Regulatory Compliance

Education

SCI qualification/Membership of Chartered Insurance Institute (UK)

Degree in Engineering or Related Technical Discipline

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 making 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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