Trading Underwriter

7 months ago

Manchester, United Kingdom Munich Re Specialty Group Full time

Trading Underwriter

**Company**
Munich Re Specialty Group
**Location**
Manchester, United Kingdom

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.

About us

MRSG 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.

Trading Underwriter Level 2

We are looking to employ a Trading Underwriter Level 2 to be based in Manchester or any other region outside of London where we have a Munich Re office, and to work with us on a full-time basis.

If you’d like to work within an energetic, fun and collaborative team atmosphere where you can make difference, we’d love to hear from you.

The Role
- Undertake the underwriting and handling of the new business process from an allocated portfolio of brokers, to deliver the agreed joint business development plans in line with the Company’s overall trading strategy.
- Underwrite and negotiate terms and conditions for new business within delegated authority levels granted and consistent with set Underwriting and S&D strategies.
- Consistently achieve agreed financial targets/ results (including pricing, new business, profitability and where appropriate retention) through execution of Sales & Development strategy, in conjunction with the agreed Underwriting strategy
- Liaising directly with the S&D team and also alongside the underwriting team, where appropriate, develop strong trading relationships with allocated intermediaries, balancing intermediary needs with the Company’s trading objective in a way that will deliver profitable and balanced trading growth.
- Make considered, intelligent, and complete recommendations to Line of Business Managers, where appropriate
- Plan and process own work in a way that will assist the team to meet its customer service targets including credit control targets.
- Act as a reference point and coach on new business related underwriting matters for the allocated intermediary or less experienced staff, so that a high level of customer service is delivered.
- Assist in maintaining a balanced and high quality portfolio, optimising the use of information gathered.
- Undertake other duties as directed within the level of the job function.
- 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.

What we are looking for

With a clear emphasis and primary focus on the underwriting of new business enquires within Cargo and Freight, to achieve and maintain a sustainably profitable, well balanced and growing portfolio with allocated intermediaries to assist in meeting the long-term trading objectives of the Company.

Understand, execute and support delivery of the agreed Sales & Development and Underwriting strategies, to produce budgeted, profitable results.

Provide technical underwriting expertise and guidance to less experienced underwriting staff.

Where necessary and if primary new business workload permits, to assist the underwriting team with the handling of renewal business

Key Skills & Experience
- Specialist underwriting knowledge.
- Strong understanding of technical underwriting, philosophy and Company trading strategy.
- Ability to interpret and effectively use management information.
- Excellent communication skills.
- In depth knowledge of the local market.
- Internal relationships with Executive Directors, Sales & Development Team, Line of Business Managers, Team Leaders and team members, Underwriters, the Claims Department and the Syndicate.
- External relationships with a range of contacts within the allocated intermediaries and customers.

**Qualifications**:

- Dip CII/ACII or substantial progress towards is preferred.

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