Senior Liability Underwriter

3 weeks ago

United Kingdom Munich Re Full time
Senior Liability Underwriter (Marine, Energy & Marine Property)

Munich Re Specialty Group is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Senior Liability Underwriter (Marine, Energy & Marine Property)

We are looking to employ a Senior Liability Underwriter to work for Munich Re Syndicate Ltd and cover Marine, Energy & Marine Property classes of business, be based in London and to work with us on a full time basis.

If you’d like to work within a results driven, high performing and collaborative team atmosphere where you can make difference, we’d love to hear from you.

The Role

  • Underwrite liability risks, 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;
  • Conduct and develop effective relationships within Lloyd’s, both with peers and with Brokers, with a view to securing new business that falls within the Munich Re Syndicate Ltd portfolio, specifically liability risks.
  • Monitor recording of all aggregate and reporting information as follows:
  • Undertake quarterly collation of RDS aggregates from all classes of liability business;
  • Apply aggregates to reinsurance program for Board review;
  • Maintain full audit trail for all the above in line with Firm’s procedures manual.
  • Supervise the underwriting assistant in monitoring of income flows (late premiums/adjustments etc);
  • Provide management reports as and when required.
  • Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority.
  • Review and administer existing contracts and make amendments in line with the firm’s underwriting philosophy;
  • Monitor recording of risk entry and amend where appropriate;
  • Review daily claims report;
  • You are required to comply with the PRA and FCA Conduct rules.

What we are looking for

The prudent underwriting of quality business in line with the 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.

Key Skills & Experience

Advanced (Level 3) knowledge and understanding of:

  • Underwriting Principles;
  • Legal Principles;
  • PRA and Lloyd’s rules and regulations including contract certainty issues;
  • All company specific procedures that relate to own role and role of those employees that you are supervising;
  • Liability cover

Qualifications

University Degree and/or relevant professional qualification

Your career with us

At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.

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