Assistant Underwriter, Property

6 months ago

London, United Kingdom Munich Re Specialty Group Full time

Assistant Underwriter, Property

**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 Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, 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.

Assistant Underwriter, Property

We are looking to employ an Assistant Underwriter to be based in London 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
- Assist in 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 Underwriters and Property Underwriting Manager when appropriate;
- Assist in the underwriting of 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 Underwriters and Property Underwriting Manager when appropriate;
- Assist in the underwriting of 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 Underwriters and Property Underwriting Manager when appropriate; Assist in the servicing of 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, working with Property Team colleagues to ensure the account remains within the Underwriting business plan;
- Review rate structures, quote engines, pricing tools, underwriting guides, policy wordings and supporting documentation, working with Property Team colleagues and other stakeholders to ensure they are appropriate for the portfolio of business;
- Regularly monitor the written and signed premium income of the Property account;
- Managing risk management surveys
- Pricing and rate monitoring of binders
- Undertake peer review in accordance with the peer review process
- Monitor on an ongoing basis country aggregates to ensure that acceptances are within agreed limits;
- 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 you

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