Marine Underwriter

MARINE UNDERWRITER LOCATION: LONDON This career opportunity is available at Santam Syndicate 1918 for a Marine Underwriter who will be based in the UK & have right to work in the UK. WHAT WILL YOU DO? The Marine Underwriter will be responsible for underwriting marine risks in line with the syndicate’s risk appetite, underwriting strategy, and Lloyd’s Minimum Standards. The role requires strong technical underwriting skills, commercial acumen, and market visibility within the London and international marine insurance markets. Classes underwritten may include hull & machinery, cargo, liability (P&I/FDD), and marine war, depending on the syndicate’s portfolio. WHAT WILL MAKE YOU SUCCESSFUL IN THE ROLE? Key Responsibilities: Underwriting & Risk Assessment Underwrite new and renewal marine risks across designated classes (e.g., hull, cargo, marine liability, war), ensuring compliance with underwriting guidelines, authority limits, and syndicate strategy. Assess technical risk factors including vessel specifications, trading patterns, loss history, cargo type, and geopolitical exposures. Negotiate terms and conditions directly with brokers and ensure accurate documentation of all placements. Portfolio Management Manage a profitable and balanced marine portfolio, in line with Lloyd’s capital and exposure guidelines. Monitor key metrics including rate adequacy, loss ratios, and aggregate exposure. Identify opportunities to grow or refine the portfolio based on market trends, pricing adequacy, and syndicate objectives. Broker & Client Relationships Build and maintain strong relationships with London Market brokers, coverholders, and global partners. Represent the syndicate in client and broker meetings, industry conferences, and Lloyd’s-related marine forums. Respond promptly and professionally to broker submissions and queries. Technical & Regulatory Compliance Ensure underwriting activity adheres to Lloyd’s Minimum Standards, FCA/PRA regulations, and internal audit requirements. Maintain accurate and compliant records using relevant underwriting and policy management systems (e.g. PPL, Whitespace, IRIS, Sequel Underwriting). Collaboration Work closely with claims, actuarial, exposure management, and reinsurance teams to ensure comprehensive risk analysis and pricing adequacy. Support internal reporting and planning processes, including syndicate business planning, PMDR submissions, and reinsurance structuring. Product & Market Development Contribute to the development of new products or endorsements in response to emerging risks (e.g. decarbonisation, geopolitical threats, ESG factors). Stay current with global marine trends, regulatory changes, sanctions regimes, and environmental developments affecting marine risk. QUALIFICATIONS AND EXPERIENCE: 5–8+ years’ experience in marine underwriting, ideally within a Lloyd’s syndicate, London Market insurer, or global marine insurer. Strong technical knowledge of marine lines including Hull & Machinery, Cargo, Marine Liability, and Marine War. Good understanding of the London Market distribution model, including open market placements, delegated authority, and binding authorities. Familiarity with electronic placement platforms (e.g. PPL, Whitespace). Solid understanding of global trade flows, vessel types, cargo handling, and related marine operations. Proven ability to negotiate and maintain broker relationships. Cert CII (Certificate in Insurance) – Chartered Insurance Institute (or equivalent) A-level education or equivalent Dip CII or ACII – CII (Advanced Diploma) with a focus on commercial or marine insurance Relevant degree (e.g. Maritime Studies, Marine Engineering, Insurance, Risk Management, Law, or Business) Willingness to continue professional development (e.g. CII, Lloyd’s Academy courses) COMPETENCIES AND SKILLS: Technical underwriting capability Strong commercial and negotiation skills Market and product knowledge Risk assessment and pricing acumen Stakeholder engagement and communication Decision-making and attention to detail Portfolio and data management skills Integrity and regulatory awareness PERSONAL ATTRIBUTES: Drives results Deciding and initiating action Leading and supervising Collaborates Client focus Flexibility and adaptability Cultivates innovation Strategic decision making Analytical thinking Influencing/ gaining commitment Business acumen Coaching and development WHO WE ARE: Santam syndicate 1918 is a new wholly owned and capitalised entity of Santam Insurance, the largest insurance company in South Africa with a 107 year heritage. 1918 is strategically important in expanding and developing Santam’s international footprint, through access to the London market talent, distribution network and Lloyd’s global insurance and reinsurance licenses. Our syndicate is a London managed and run business, with a strong, experienced leadership team, focused on underwriting discipline, whilst allowing our teams to feel empowered and accountable for their actions. We are building a collaborative team where underwriting, claims, actuarial and other functions work closely, to help achieve superior underwriting results