E&S Sr. Property Underwriter

MSIG; Chicago (IL); On-site; USD 145,000 - 185,000; Full time

Benefits offered by this job

Healthcare and Retirement Benefits

401(k) with generous match

Wellness program

Life and AD&D insurance

Flexible spending programs

Short/long-term disability

Paid time off

Paid parental leave

Tuition reimbursement

Insurance discounts

Job summary

MSIG USA is seeking a Senior Underwriter to manage a profitable portfolio of commercial property business, emphasizing E&S and complex risks. This role requires independent underwriting judgment, strong broker relationships, and the ability to balance growth with profitability across a nationwide book.

You will evaluate submissions, structure layered property placements, and collaborate with internal stakeholders to deliver tailored insurance solutions while maintaining underwriting discipline.

Qualifications

• 3+ years of direct E&S Property underwriting experience with independent management of complex risks.
• 5+ years in commercial property underwriting with growing authority and portfolio responsibility.

Responsibilities

• Underwrite, price, negotiate, and manage complex commercial property risks within authority and guidelines.
• Review submissions, analyze exposures, construction, occupancy, and risk characteristics for renewal or new business.
• Structure complex accounts including large and layered properties and pursue broker relationships.
• Develop new business with wholesale and other distribution partners to meet profitability targets.
• Monitor portfolio performance, growth, retention, and profitability; ensure documentation and controls are met.
• Collaborate with Risk Engineering, Claims, Actuarial, and other teams to craft solutions.

Skills

Underwriting complex property

Broker development

Portfolio management

Pricing and terms negotiation

Risk assessment

Communication

Education

Bachelor’s degree

Job description

Company Overview

MSIG USA continues to grow! Company Overview: MSIG USA is the US-based subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers and a global Class 15 insurer, with A+ ratings and a reach that spans 40+ countries and regions. Leveraging our 350-year heritage, MSIG USA brings the financial strength, expertise, and global footprint to offer commercial insurance solutions that address your business’s unique risks.

Summary/Job Purpose

The Senior Underwriter is responsible for producing, underwriting, and managing a profitable portfolio of commercial property business, with an emphasis on E&S and complex Property risks. This role independently evaluates and structures risks, develops new business opportunities, manages portfolio performance, and builds strong broker relationships to support profitable nationwide growth. The Senior Underwriter is expected to exercise sound independent underwriting judgment while balancing production, growth, and profitability objectives.

Essential Functions

• Independently underwrite, price, negotiate, and manage complex commercial property risks within delegated authority and established underwriting guidelines.
• Review and evaluate new and renewal submissions, including property exposures, construction, occupancy, protection, catastrophe and natural-hazard exposure, loss history, valuation, financial information, risk characteristics, and other relevant underwriting considerations.
• Underwrite and structure complex property accounts, including large property risks and shared and layered placements, as applicable.
• Actively develop and produce new business through established and prospective broker relationships, identifying opportunities that align with underwriting strategy, appetite, and profitability objectives.
• Build and maintain strong relationships with wholesale brokers and other key distribution partners, serving as a responsive and knowledgeable underwriting partner.
• Manage an assigned portfolio with accountability for premium growth, new business production, retention, rate, profitability, and overall portfolio quality.
• Exercise independent underwriting judgment in determining appropriate pricing, terms and conditions, limits, deductibles, coverage structures, and risk acceptability within assigned authority.
• Negotiate effectively with brokers while maintaining underwriting discipline and balancing growth objectives with profitability and portfolio quality.
• Monitor market conditions, competitive dynamics, catastrophe exposure, emerging risks, and portfolio trends to inform underwriting and business development decisions.
• Partner with brokers, Risk Engineering, Claims, Actuarial, and other internal stakeholders to evaluate complex risks, develop appropriate insurance solutions, and pursue profitable business opportunities.
• Communicate underwriting decisions clearly and maintain accurate and complete account documentation in accordance with underwriting standards, delegated authority, regulatory requirements, and internal controls.
• Contribute technical underwriting and market expertise to broader underwriting initiatives and collaborate with colleagues to support overall business and portfolio objectives.

Supervisory Responsibilities

This position has no supervisory responsibilities.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Experience

• Bachelor’s degree
• 3+ years of direct E&S Property and/or shared and layered commercial property underwriting experience, with demonstrated responsibility for independently underwriting and managing complex property risks.
• Alternatively, 5+ years of broader commercial property underwriting experience with demonstrated progression in underwriting authority, account complexity, and portfolio responsibility.
• Experience underwriting large commercial property accounts, shared and layered property programs, and/or construction-related property risks highly desirable.
• Strong knowledge of commercial property exposures, catastrophe-exposed business, risk selection, pricing, coverage structures, terms and conditions, and portfolio management.
• Demonstrated track record of developing and producing new business while maintaining appropriate underwriting discipline and profitability.
• Proven ability to independently manage a book of business and exercise sound underwriting judgment within delegated authority.
• Strong broker development, negotiation, and relationship-management capabilities.
• Established relationships with wholesale brokers and other key Property distribution partners highly desirable.
• Demonstrated ability to identify, develop, and convert new business opportunities while maintaining strong risk selection and underwriting discipline.
• Strong business acumen with the ability to balance production, growth, retention, and underwriting profitability.
• Strong organizational and analytical skills with the ability to manage multiple priorities and complex accounts in a fast-paced, production-oriented underwriting environment.
• Excellent verbal and written communication and negotiation skills.

SALARY

The estimated salary range for this position is $145,000.00 - $185,000.00 per year. This is a good-faith assessment of the salary range for this position only. In determining the actual salary within this range, MSIG USA will consider a candidate’s relevant experience, location, and other job‑related factors.

Additional Benefits

• Healthcare and Retirement Benefits Comprehensive medical, dental, and vision coverage
• 401(k) with a generous employer match and profit‑sharing contribution
• Wellness incentive program
• Life and accidental death and dismemberment (AD&D) insurance
• Flexible spending programs
• Short-term and long-term disability plans
• Additional Benefit Programs
• Paid time off program
• Paid charitable leave
• Paid parental leave
• Tuition reimbursement program
• Personal insurance (auto/homeowners) discounts

Equal Employment Opportunity

It is the policy of MSIG USA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG USA will provide reasonable accommodations for qualified individuals with disabilities. Each employee plays an important role which contributes directly to the success and continued growth of MSIG.

About Us

MSIG Holdings (U.S.A.), Inc. (MSIG) is a wholly owned subsidiary of the MS & AD Insurance Group Holdings, Inc. – one of the top ten property-casualty insurance groups world-wide. Our Group has capital in excess of $25 Billion, operations in more than 40 countries and nearly 40,000 personnel located globally. MSIG in the U.S. is comprised of three insurance companies with licenses in all fifty states as well as Puerto Rico and the District of Columbia. These companies and five other subsidiaries, deliver state of the art risk financing programs, insurance products, risk engineering and claims management services that enable our clients to effectively and efficiently manage their risks. Our insurance companies share the A.M Best’s A+ XV Rating and Standard & Poor’s A+ Rating of our Japan-based parent. Our clientele runs the gamut from small and mid-sized, sole‑proprietorships, partnerships and corporations, up to some of the largest and most sophisticated multinational corporations operating in the U.S. and globally. The vast majority of clients seek our support related to Commercial Lines insurance products including Commercial Property and Liability Insurance products. However, through our subsidiary – Seven Hills Insurance Agency, LLC. – we are able to provide Personal Lines Insurance products including homeowners, renters, automobile, etc. Specialties: All Risk Property, Commercial Liability, Automobile, Workers Compensation, Management Liability, Marine, Excess & Umbrella, Claims Management, Risk Engineering services, etc.