Underwriting Leader, Representations and Warranties - M&A Financial Lines

AIG; Los Angeles (CA); On-site; USD 250,000 - 290,000; Full time

Benefits offered by this job

Total Rewards Program

Job summary

American International Group, Inc. (AIG) seeks an Underwriting Leader to drive technical underwriting of representations and warranties risks in M&A transactions. You will develop relationships with brokers and deal professionals, lead complex negotiations, and guide the underwriting process with senior management input.

You will shape appetite, portfolio quality, and growth initiatives while mentoring junior staff and aligning cross-functional teams with the group’s strategy.

Qualifications

• At least 7 years in M&A related roles with 3+ years direct underwriting in M&A insurance.
• Strong knowledge of underwriting discipline and portfolio considerations.
• Excellent communication and leadership in negotiations with diverse advisors.

Responsibilities

• Conduct background research on transactions and industries.
• Review agreements to assess risk and insurance value.
• Analyze complex risks per product line policies; set coverage, pricing and risk selection.
• Negotiate non-binding letters, policies and binders.
• Lead underwriting calls and manage external counsel and advisors.
• Mentor junior underwriters and align practices across the group.

Skills

Leadership

Negotiation

Communication

Strategic thinking

Mentoring

Job description

New York, Boston, Chicago, Atlanta, Washington DC, Miami, Dallas, Houston, Denver, San Francisco, Los Angeles

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets and manage risks.

We’re also committed to making a positive difference for our colleagues and in the communities where we work and live. We encourage colleagues to give back to the causes they care most about, supporting these efforts through our Volunteer Time Off and Matching Grants Programs.

About the Business

AIG Underwriting teams help to find insurance solutions in areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, and Multinational Clients. We are reimagining how we help customers to manage risk, transforming our operating model and reshaping our role responsibilities and career pathways. The goal is to unlock the full potential in each colleague – empowering our people to grow as insurance professionals and add more value to our customers and AIG.

About the Role

This key leadership role focuses on technical underwriting of complex and sophisticated insurable risks as they relate to Representations and Warranties transactions (including analysis of deal documents and due diligence) and development of relationships with M&A source producers (brokers, lawyers, private equity fund principals, and corporate professionals).

The Underwriting Leader will be responsible for the structuring, underwriting and negotiation of transactional insurance solutions, with a principal focus on representations and warranties insurance, and will provide leadership and technical guidance throughout the underwriting process, and contribute to the formulation and implementation of the Group’s strategy at the product line level, including underwriting appetite, portfolio quality, broker engagement and profitable growth initiatives.

Responsibilities

• Conduct background research on the parties to a particular transaction and the industries in which they operate.
• Review and understand the client’s motivation for requesting the insurance coverage, the role the insurance is playing in the transaction, and the value of the insurance to the transaction.
• Review and understand the agreements and other documentation relevant to the analysis and assessment of the risk.
• Analyze and assess complex and highly negotiated risks in accordance with the relevant product line policies and procedures, exercising sound judgment on coverage, structure, pricing and risk selection.
• Prepare and negotiate non-binding indication letters, insurance policies and binder agreements.
• Serve as a key point of contact for clients, clients’ advisors, brokers and other deal professionals, providing clear, commercially focused guidance throughout the underwriting process.
• Lead and participate in underwriting conference calls.
• Manage the underwriting process and the selection of and work performed by outside counsel and other advisors.
• Present preliminary findings and conclusions to management.
• Provide technical guidance, coaching and support to less experienced underwriters, analysts, and other team members and contribute to consistent underwriting practices across the Group.
• The Underwriting Leader will play a meaningful role in the execution of the Group’s relationship development and marketing plan:
  • Participate in the marketing of transactional insurance products to brokers, private equity firms, law firms, investment banks, accounting firms, consulting firms and prospective clients, with a focus on strengthening strategic relationships and identifying new business opportunities.
  • Develop and deliver sophisticated presentation, marketing and informational materials tailored to clients, brokers and other M&A professionals.
  • Help develop, refine and enhance the suite of transactional insurance products offered to our clients based on market developments, claims experience and evolving transaction structures.

Leadership Skills

• Exceptional written and oral communication skills, including advanced proficiency in drafting clear, precise legal and commercial documents;
• Advanced understanding of complex corporate structuring and financing arrangements;
• Demonstrated ability to lead negotiations with commercially and legally sophisticated advisors, brokers and clients;
• Highly focused, enthusiastic and creative thinker with strong judgment and a solutions-oriented approach to novel or complex issues;
• Demonstrated ability to lead and manage multiple complex underwriting processes, assess and prioritize material risks, coordinate stakeholders and maintain organization under demanding transaction timelines;
• Strong interpersonal and leadership skills, with a demonstrated ability to collaborate effectively across functions, geographies and levels of seniority;
• Proven ability to make sound commercial decisions against a backdrop of complex legal, financial and underwriting risk assessment; and
• Ability to operate with a high degree of independence, initiative, accountability and professional judgment.

Technical Skills and Experience

• Advanced competency in understanding complex corporate M&A transactions and drafting transaction documents;
• Advanced negotiating and relationship-management skills, including the ability to influence outcomes and resolve complex issues;
• Deep knowledge of transactional legal exposures (warranty breaches, tax structuring issues, litigation and the computation and measure of damages);
• Strong financial and commercial acumen, including the ability to analyze financial statements, financial reports, quality of earnings reports and other commercial due diligence materials;
• Demonstrated ability to prepare and deliver compelling presentations to brokers, regional offices, legal advisors, clients and other sophisticated audiences;
• At least 7 years of professional experience in M&A legal, underwriting, corporate finance or another relevant business discipline, including at least 3 years of direct underwriting experience with M&A insurance products; and
• Significant experience with insurance sector or other financial institutions, including a strong understanding of underwriting discipline, portfolio considerations and the M&A insurance marketplace.

Thebase salary range for this position is $250,000-$290,000, and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. If your compensation expectations are above the posted range, we still encourage you to apply - your unique background matters to us. We’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview.

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to [e-mail].

We consider qualified applicants with criminal histories, consistent with applicable law.

Functional Area:

UW - Underwriting

Risk Specialists Companies Insurance Agency, Inc.