Assistant Underwriter

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

Assistant Underwriter, Property

Assisting the Delegated Property Underwriters in the prudent underwriting of quality Property business in line with business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm

Assist in the effective management of property binders, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits; referring to Underwriters, Senior Underwriters and Group Head of Delegated Property when appropriate;
Assist in the underwriting of new and renewal Property binders, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan; referring to Underwriters, Senior Underwriters and Group Head of Delegated Property when appropriate;
Accurate and timely data entry of all Property risks in line with Syndicate procedures
Conduct and develop effective relationships with colleagues in the property team and other teams, including claims, actuarial, binder management, underwriting management, exposure management, compliance and finance;
Review slips and endorsements along with other placing information and literature, working with DA Property Team colleagues to ensure the account remains within the Underwriting business plan;
Review rate structures, quote engines, pricing tools, underwriting guides, policy wordings and supporting documentation, working with Property Team colleagues and other stakeholders to ensure they are appropriate for the portfolio of business;
Regularly monitor the written and signed premium income of the Property account;
Managing risk management surveys
Pricing and rate monitoring of binders
Provide supporting data and reports for team meetings, internal and external meetings, and business plans as and when required;
Attend and contribute to regular and ad-hoc Property team meetings, meetings with colleagues within MRSGMS, and meetings with Cover holders, brokers, suppliers and other entities.
Ensure that company procedures and systems are followed and maintained, as per procedures and compliance manuals;
Delegated property business.
Underlying Principles of Insurance;
Legal Principles;
FCA, PRA and Lloyd’s rules and regulations, including conduct risk and contract certainty issues;
Lloyd’s insurance market;

Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
Be aware of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.

Office/ admin experience vital to role
Experience of working in the Lloyd’s insurance market and familiarity with relevant Lloyd’s systems and processes
Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

You can request an adjustment by speaking to your Talent Acquisition contact.

Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.