Senior Facultative Underwriter – Builders Risk

TransRe; New York (NY); Hybrid; USD 150,000 - 200,000; Full time

Benefits offered by this job

Comprehensive benefits package

Paid time off

Incentive pay

Job summary

TransRe in New York City seeks an experienced Senior Underwriter to establish and manage a new Builders Risk Facultative portfolio in the US. The role collaborates with the London team on technical underwriting and daily portfolio management, with a focus on risk assessment and client/broker engagement.

The position offers a hybrid work model (3 days in office, 2 days remote) with base salary range of $150,000–$200,000 plus benefits, incentive pay, and career growth opportunities in a global

Qualifications

• 5–10 years underwriting experience in (re)insurance, Builders Risk focus.
• Experience with quota share placements for construction projects.
• Ability to build and maintain broker relationships.
• Ability to analyze contract language and coverage.
• Ability to work autonomously within a global unit.

Responsibilities

• Select, price, and underwrite Builders Risk project business.
• Demonstrate underwriting skills on coverage, terms, pricing, and PML.
• Market brokers and clients to build a US distribution panel.
• Represent TransRe in the US Builders Risk market with brokers and cedents.
• Produce quarterly and annual reports and departmental budgets.
• Maintain records for underwriting decisions and stay current on trends.

Skills

Underwriting experience

Broker relationships

Analytical skills

Communication

Autonomy

Tools

Excel

Word

Job description

About Us

Since 1977 we have delivered first class solutions to insurers worldwide, by combining global reach with local decision making. We have built customer & broker relationships on years of trust, experience and execution. Through our people, our products and our partnerships, we deliver the capacity and expertise necessary to contribute to the sustainable growth of prosperous communities worldwide. To do so, our colleagues work with:

Integrity

Work honestly, to enhance TransRe’s reputation

Respect

Value all colleagues. Collaborate actively.

Performance

We reward excellence. Be accountable, manage risk and deliver TransRe’s strengths

Entrepreneurship

Seize opportunities. Innovate for and with customers.

Customer Focus

Anticipate their priorities. Exceed their expectations.

We have the following job opportunity in our New York City office:

Description

We are seeking an experienced Senior Underwriter to establish and manage a new Builders Risk Facultative portfolio in the US. This role will regularly liaise with the underwriting team for Engineering & Builders Risk in London to focus on the technical underwriting and daily management of the global portfolio. Responsibilities will include but not be limited to:

• Selecting, pricing and underwriting facultative Builders Risk project business

• Demonstrating sound underwriting skills – determine appropriate coverage, terms, pricing, PML based on risk assessment and company guidelines

• Marketing brokers and clients across the US to establish a key distribution/relationship panel

• Representing TransRe in the US Builders Risk facultative market with brokers, cedents, and industry forums.

• Producing quarterly and annual reports as well as various departmental budgets

• Maintain accurate records and documentation for underwriting decisions

• Staying up to date on industry trends, construction practices, regulatory changes and policy form coverages

Requirements

• 5-10 years of underwriting experience in the (re)insurance industry, focused on Builders Risk

• Proven experience underwriting Builders Risk business with an emphasis on quota share placements for construction projects

• Experience managing an underwriting portfolio and familiarity with all types of construction project types (i.e. buildings, infrastructure & power generation)

• Ability to build and maintain strong broker relationships

• Ability to analyze and evaluate contract language and coverage afforded

• Ability to work autonomously with decision making authority as well as being a team player within a global unit

• Solid understanding of the cause-effect relationship of decisions and their impact on the business

• Strong interpersonal, communication, Excel and Word skills

• Strong time management and organizational skills

Work Schedule

TransRe is supportive of an agile work schedule, which may differ based on individual roles, your local office’s practices and preferences marketplace trends, and TransRe’s business objectives. This position is located in our New York City office and is eligible for a hybrid work schedule with 3 days in the office per week, and 2 days remote.

Compensation

In addition to base salary, for this position, TransRe offers a comprehensive benefits package, paid time off, and incentive pay opportunity. The anticipated annual base salary range in New York for this position, exclusive of benefits, paid time off, and incentive pay opportunity is $150,000 – 200,000. This range is an estimate and the actual base salary offered for this position will be determined based on certain factors, including the applicant’s specific skill set and level of experience.

We are an Equal Opportunity Employer (EOE) and we support diversity in the workforce.