Senior Property Underwriter

1 month ago

London, United Kingdom Munich Re Specialty Group Full time

Senior Property Underwriter (D&F)

**Company**
Munich Re Specialty Group
**Location**
London, 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.

Senior Property Underwriter, D&F

We are looking to employ a Senior Property Underwriter, D&F to be based in London, and to work with us on a full-time basis.

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

The Role
- Underwrite new and renewal Property business, exercising judgement in all underwriting matters, and remaining aware of own underwriting limits as set out in the Underwriting Authority sheet. All in accordance with Underwriting business plan; referring to the Group Head or CUO when appropriate;
- Ensure the effective management of property business, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits;
- Service existing 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 insureds and brokers, colleagues in the property team and other teams, and within Lloyd’s and the wider market;
- 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 rates, proposal forms, policy wordings and other supporting documentation, exercising own judgement to ensure they are appropriate for the business being written;
- 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;
- Managing risk management surveys
- Prepare and review information for reinsurers as and when required;
- Monitor recording of risk entry and amend where appropriate;
- Assist the Group Head in the oversight and supervision of Underwriters, Assistant Underwriters and Underwriting Assistants where appropriate;
- Attend, contribute to or chair regular and ad-hoc Property team meetings, meetings with colleagues within GSI/ MRSL, and meetings with reinsurers, brokers, insurers, suppliers and other entities where appropriate;
- Monitor renewal reports and chase outstanding renewal business;
- You are required to comply with the PRA and FCA conduct rules

What we are looking for

You to support the Group Head of D&F Property in the effective management of the Property D&F book within Global Specialty Insurance and Munich Re Syndicate Limited (MRSL).

Ensure prudent underwriting of quality business in line with business plan to facilitate maximum return of profit while maintaining the company’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the company.

Key Skills & Experience
- Underwriting Principles;
- Legal Principles;
- FCA / PRA and Lloyd’s rules and regulations including conduct risk and contract certainty issues;
- Lloyd’s insurance market
- All company specific procedures that relate to own role and role of those employees that you are supervising;
- UK, US and International commercial property business, including liability associated with commercial combined / package business;
- UK, US and International Homeowners and HVH business, where appropriate;

**Qualifications**:

- University Degree and/or relevant professional qualification

Your career with us

At MRSG, you’ll find the flexibility, development

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