Marine Cargo Underwriter

Placements24; Richards Bay; On-site; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Salary with bonuses

Medical aid and retirement fund

Annual leave and statutory benefits

International travel opportunities

Relocation assistance may be available

Job summary

Placements24 seeks an experienced Marine Cargo Underwriter in Richards Bay, KwaZulu-Natal. The role focuses on assessing, selecting, and pricing marine cargo risks for import/export clients, developing profitable underwriting strategies, and maintaining strong broker/client relationships within a global insurer.

The ideal candidate has deep marine insurance knowledge, Incoterms expertise, and a proven track record in underwriting complex marine risks.

Qualifications

• Minimum 5 years of marine cargo underwriting experience.
• In-depth knowledge of marine insurance, Incoterms, and trade practices.
• Strong analytical and financial acumen with sound judgment.
• Excellent negotiation and communication skills.
• Ability to build relationships with brokers, clients, and colleagues.

Responsibilities

• Underwrite new and renewal marine cargo business with terms and pricing.
• Analyze routes, commodities, insured values, and risk controls.
• Develop and maintain broker and client relationships.
• Ensure decisions align with risk appetite and profitability.
• Stay updated on global trade, maritime regulations, and loss trends.
• Collaborate with claims and other departments on underwriting guidelines.
• Prepare portfolio reports and market analyses.

Skills

Marine cargo underwriting

Risk assessment & pricing

Client/broker relationship mgmt

Education

Commerce/Finance/Maritime Studies

Tools

Underwriting systems

MS Office

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.