Manager, Underwriting (Middle East)

MS FIRST CAPITAL INSURANCE LIMITED; Singapore; On-site; SGD 100,000 - 150,000; Full time

Job summary

A leading insurance firm seeks an experienced Underwriter specializing in non-marine insurance. The role involves managing complex risks, enhancing broker relations, and ensuring compliance with industry standards. Candidates should possess at least 12 years of underwriting experience, ideally with knowledge of the Middle East market.

Benefits

Career development opportunities

Professional training

Collaborative culture

Competitive compensation package

Qualifications

• 12 years' insurance underwriting experience in large/complex commercial risks.
• Specific experience in the Middle East region is essential.
• Ability to understand/interpret insurance conditions and clauses.

Responsibilities

• Underwrite Non-Marine insurance policies for large commercial risks.
• Manage broker relations and expectations regarding underwriting.
• Ensure compliance with laws, regulations, and internal policies.

Skills

Risk Analysis

Negotiation

Data Interpretation

Education

Degree in Engineering or related discipline

Insurance Qualification/Membership of Chartered Insurance Institute (UK) or equivalent

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, Engineering and Liability) insurance policies/covers for large and complex commercial risks in various territories across Asia
• 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 that the controls identified in Internal Control over Financial Reporting (ICOFR) are applied consistently
• 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 12 years' insurance underwriting experience in large/complex commercial risks segment; specific experience in the Middle East region is essential
• Degree in engineering or a related discipline will be ideal
• Insurance qualification/Membership of Chartered Insurance Institute (UK) or equivalent
• Compensation will be commensurate with the candidate’s experience level (salary range stated in this job posting is meant as a guide ony)
• 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

We regret that only shortlisted candidates will be contacted