Engineering Underwriter

2 weeks ago

London, United Kingdom Great Lakes Insurance SE Full time

Engineering Underwriter

**Company**
Great Lakes Insurance SE
**Location**
London, United Kingdom

**About Great Lakes Insurance SE**:
As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.

Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.

**About the role**: The role is to work as part of a highly functioning team to ensure underwriting standards and success buy cultivating and assess operational power and engineering / construction risks throughout the world. There will be a focus on attaining the best possible solutions in line with the strategy.

**Key Responsibilities**:

- To underwrite facultative reinsurance and direct insurance in the London market through brokers. Predominantly CAR, EAR and operational power, by using the relevant MRe quotation, local monitoring tools and underwriting guidelines.
- To cultivate relationships with London brokers and create new business potential through these sources
- To participate in London working groups (e.g. LEG) and MRe topic networks
- To conduct market and portfolio analyses, and prepare reports

**Competencies**:
Drives results (we think big) - you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.

advance your business’ and wider organisation’s goals.

Collaboration (we lead the ‘we’) - you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.

Client focus (we grow with our clients) - you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.

Cultivates innovation (we grow with our clients) - you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.

Courage (we care and dare) - you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.

Persuades (we are clear and authentic) - you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

**Key Skills & Experience**:

- Have an in-depth knowledge of engineering insurance with a high level of underwriting experience, preferably in a broker driven market; London market experience would be a bonus.
- Good communication, negotiation, and relationship skills.
- High level of commitment and ability to work under pressure.

Desirable but not critical
- Engineering Degree with several years of practical professional experience.
- Second Language.

**Qualifications and Educational Requirements**:

- Engineering degree (preferably Mechanical Engineering).
- ACII qualified (or at least have made significant progress towards this qualification) and/or alternative relevant professional qualification.

**Thought Leaders**:
You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others - identifying opportunities to share your knowledge with others.

You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect.

**Regulatory & Conduct Requirements**:
In addition to the responsibilities set out above will also become responsible for:

- Ensure compliance with Insurance Distribution Directive
- Satisfying all regulatory reporting requirements in collaboration with the reporting function
- Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship.
- Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

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