Marine Cargo Underwriter

Placements24; Mtubatuba Local Municipality; On-site; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Medical aid

Life cover

Retirement fund

Annual leave

International travel opportunities

Job summary

Placements24 is seeking an experienced Marine Cargo Underwriter for our client in Richards Bay, KwaZulu-Natal. You will assess, price, and underwrite marine cargo risks for a diverse client base, developing profitable strategies and maintaining strong broker relationships.

The ideal candidate has 5+ years in marine underwriting, deep knowledge of Incoterms and global trade practices, and strong analytical and negotiation skills.

Qualifications

• 5+ years of Marine cargo underwriting experience.
• Strong analytical and financial skills for decision making.
• Excellent negotiation and communication abilities.

Responsibilities

• Underwrite new and renewal marine cargo insurance, pricing and terms.
• Assess routes, commodities, insured values and risk management practices.
• Build relationships with brokers, agents and clients in the marine industry.
• Ensure decisions align with risk appetite and profitability targets.
• Stay informed on global trade trends and maritime regulations.
• Collaborate with claims teams on loss trends and pricing adjustments.
• Develop and implement underwriting guidelines and best practices.
• Provide technical underwriting support to other departments.
• Contribute to strategic planning and growth of the marine division.
• Prepare detailed reports on portfolio performance and market analysis.

Skills

Marine cargo underwriting

Analytical thinking

Financial acumen

Stakeholder management

Education

Commerce/Finance/Maritime Studies degree

Tools

Underwriting systems

Microsoft Office Suite

Job description

About the Role

Our client, a highly respected international insurer with a significant presence in South Africa, is seeking an experienced Marine Cargo Underwriter to be based in their Richards Bay, KwaZulu-Natal office. This specialized role involves the assessment, selection, and pricing of marine cargo risks for a diverse portfolio of clients involved in import and export activities. You will be responsible for developing profitable underwriting strategies, building strong relationships with brokers and clients, and ensuring adherence to underwriting guidelines and global standards. The ideal candidate will possess a deep understanding of marine insurance principles, trade finance, and the unique risks associated with the transportation of goods. This is an exceptional opportunity to join a leading global insurer and contribute to their marine division's success in a key port city. We are looking for an analytical, commercially astute individual with excellent decision-making skills and a proven track record in underwriting complex marine risks. Your expertise will be vital in maintaining and growing our client's market share in the marine cargo insurance sector, ensuring robust risk selection and pricing strategies are consistently applied. The strategic location in Richards Bay, KwaZulu-Natal offers unique insights into local and international shipping operations, making this role particularly impactful.

Key Responsibilities

• Underwrite new and renewal marine cargo insurance business, assessing risks and determining appropriate terms, conditions, and pricing.
• Analyze shipping routes, commodity types, insured values, and client risk management practices.
• Develop and maintain strong relationships with brokers, agents, and key clients within the marine industry.
• Ensure underwriting decisions align with the company's risk appetite, profitability targets, and underwriting philosophy.
• Stay informed about global trade trends, geopolitical risks, and relevant maritime regulations.
• Collaborate with claims teams to understand loss trends and adjust underwriting strategies accordingly.
• Assist in the development and implementation of underwriting guidelines and best practices.
• Provide technical expertise and support to other departments as needed.
• Contribute to the overall strategic planning and growth of the marine division.
• Prepare detailed reports on portfolio performance, market analysis, and underwriting activities.

Requirements

• A minimum of 5 years of experience specifically in marine cargo underwriting.
• A relevant tertiary qualification in Commerce, Finance, Maritime Studies, or a related field.
• In-depth knowledge of marine insurance policies, Incoterms, and international trade practices.
• Strong analytical and financial acumen with excellent decision-making capabilities.
• Exceptional negotiation and communication skills, both written and verbal.
• Ability to build and maintain effective relationships with diverse stakeholders.
• Proficiency in underwriting systems and Microsoft Office Suite.
• Understanding of the South African import/export landscape is advantageous.
• Ability to work independently and contribute effectively within a global team structure based in Richards Bay, KwaZulu-Natal.
• Commitment to continuous learning and professional development in marine insurance.

Benefits

• Attractive salary package with performance-based bonuses.
• Comprehensive medical aid, life cover, and retirement fund benefits.
• Generous annual leave and other statutory benefits.
• Opportunities for international travel and professional development courses.
• Access to a global network of marine insurance professionals.
• A stimulating work environment with exposure to diverse global trade risks.
• Relocation assistance may be considered for exceptional candidates.
• Employee wellness and support programs.