Property Underwriter

3 weeks ago

London, United Kingdom Munich Re Syndicate Ltd Full time

**Property Underwriter **(M/F/d)****:
Here at Munich Re Syndicate we are passionate about our people and the services we provide to our clients

Are you an experienced and hardworking Property Underwriter committed to exceeding client expectations and looking for your next step with an outstanding Insurance brand?

If so, this may be just the opportunity for you

The job is a front line role with daily broker contact and direct contact with clients, as well as internal liaison with other units within Munich Re.

**Location**
London, United Kingdom

As an expert in your field, you will ensure 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.

Given the range of work the team carries out, we operate in a flexible, collaborative way and are dedicated to crafting an encouraging environment so that people are inspired to develop.

Your job

Underwrite 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 Property Underwriting Manager when appropriate;
Ensure 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 Property Underwriting Manager when appropriate;
Underwrite new and renewal Property 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; referring to Property Underwriting Manager when appropriate;
Service existing binder contracts and open market risks, and make amendments in line with the syndicate’s underwriting philosophy;
Enter relevant risk information into S2000 and other appropriate systems, ensuring compliance and KYC requirements are in order;
Conduct and develop effective relationships with Coverholders and Brokers, to both strengthen existing trading relationships and secure new business that falls within the Underwriting business plan;
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;
Conduct and develop effective relationships within Lloyd’s and the wider market, with peers and brokers, to keep abreast of market developments that may affect the syndicate’s trading effectiveness;
Review slips and endorsements along with other placing information and literature, exercising own judgment to ensure the account remains within the Underwriting business plan;
Review rate structures, underwriting guides, policy wordings and supporting documentation, exercising own judgement to ensure they are appropriate for the portfolio of business;
Monitor on a weekly basis the written and signed premium income of the Property account;
Monitor on an ongoing basis country aggregates to ensure that acceptances are within agreed limits;
Prepare and review information for reinsurers as and when required;
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 MRSL, and meetings with Coverholders, brokers, suppliers and other entities.

Ensure that company procedures and systems are followed and maintained, as per procedures and compliance manuals;
Monitor renewal reports and chase outstanding renewal business;
Be aware of and take ownership 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. In this context risk is the potential for loss or failure to meet business objectives as a consequence of internal or external events.

Provide support to manager on team and MRSL critical initiatives.

Provide underwriting assistance on other classes of business, as and when required;
Help drive forward good conduct for the business to deliver the best outcomes for customers / policyholders.

Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

**Profile**:
You are required to comply with the PRA and FCA conduct rules:

- Acting with honesty and integrity at all times
- Acting at all times with due care, skill and diligence
- Being open and honest with the FCA, the

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