Senior Underwriter - Commercial Property

Placements24; Cape Town; On-site; ZAR 900,000 - 1,500,000; Full time

Benefits offered by this job

Medical aid

Retirement fund contributions

Underwriting training & certifications

Opportunities for international work

Job summary

Placements24 seeks a Senior Underwriter specialized in Commercial Property to join the Cape Town team. The role focuses on assessing, pricing and accepting complex property risks in line with underwriting strategy, with close collaboration in a busy office environment.

Ideal candidates will have 7+ years of experience, ACII/FCII or equivalent is advantageous, and a track record in mentoring underwriters. This position offers strong incentives and growth within a dynamic team in Cape Town.

Qualifications

• Minimum 7 years in commercial property underwriting.
• ACII/FCII or equivalent advantageous.
• Experience underwriting large, complex property risks including natural catastrophe exposure.
• Strong understanding of property insurance contracts and regulatory frameworks.
• Excellent negotiation and stakeholder management skills.

Responsibilities

• Underwrite new and renewal commercial property risks per guidelines.
• Analyze financial statements, property schedules, site inspection reports, and catastrophe data.
• Determine terms, conditions, and pricing for policies.
• Build and maintain broker and client relationships.
• Collaborate with claims and actuarial teams to refine pricing models.
• Mentor junior underwriters and support staff.
• Stay updated on market developments and regulatory changes.
• Negotiate terms with brokers to secure profitable business.
• Prepare underwriting reports and portfolio reviews for senior management.
• Contribute to development of new products and services.

Skills

Analytical skills

Decision making

Problem solving

Negotiation skills

Communication skills

Stakeholder management

Mentoring

Independent work

Underwriting expertise

Education

ACII/FCII or equivalent

Tools

Underwriting systems

Data analysis tools

Microsoft Office

Job description

About the Role

Our client is actively seeking a highly skilled and experienced Senior Underwriter specializing in Commercial Property to join their esteemed team in Cape Town, Western Cape . This critical position involves assessing, pricing, and accepting complex commercial property risks, ensuring profitability and alignment with the company's underwriting strategy. You will be instrumental in developing and maintaining strong broker relationships, providing technical expertise, and contributing to the growth of the commercial property portfolio. The role is office-based, allowing for close collaboration and direct mentorship within our vibrant Cape Town office.

Key Responsibilities

• Underwrite new and renewal commercial property risks according to company guidelines and appetite.
• Analyze financial statements, property schedules, site inspection reports, and catastrophe modeling data to assess risk exposure.
• Determine appropriate terms, conditions, and pricing for commercial property insurance policies.
• Build and nurture relationships with key brokers and clients, understanding their business needs and market trends.
• Collaborate with claims and actuarial departments to refine underwriting strategies and pricing models.
• Provide technical underwriting support and guidance to junior underwriters and support staff.
• Stay abreast of market developments, regulatory changes, and emerging property risks.
• Negotiate terms and conditions with brokers to secure profitable business.
• Prepare and present underwriting reports and portfolio performance reviews to senior management.
• Contribute to the development and implementation of new insurance products and services.

Requirements

• A minimum of 7 years of experience in commercial property underwriting within the insurance industry.
• A professional qualification such as ACII, FCII, or equivalent is highly advantageous.
• Demonstrated expertise in analyzing and underwriting large, complex commercial property risks, including those exposed to natural catastrophes.
• Strong understanding of property insurance contracts, market practices, and legal/regulatory frameworks.
• Excellent analytical, decision-making, and problem-solving skills.
• Exceptional negotiation and communication abilities, with a proven track record of building strong stakeholder relationships.
• Proficiency in underwriting systems, data analysis tools, and Microsoft Office Suite.
• Ability to work independently and manage a demanding workload efficiently.
• A proven ability to mentor and develop less experienced team members.
• Must be based in or willing to relocate to Cape Town, Western Cape for this full-time, office-based position.

Benefits

• Our client provides a highly competitive salary package commensurate with experience, along with excellent performance-based incentives.
• Full medical aid coverage and a robust retirement fund contribution are standard.
• Access to advanced underwriting training, industry certifications, and potential for international assignments.
• Work in a modern office environment in the heart of Cape Town , with access to amenities and a supportive team culture.
• Annual leave.
• Potential for study leave.
• Involvement in impactful industry initiatives.