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International Property Underwriter
1 month ago
Role Overview
The International Property Binder Underwriter will be responsible for underwriting new and renewal property binders, exercising judgment in all underwriting matters, and remaining aware of their own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with the Underwriting business plan. They will refer to the Group Head of Delegated Property when appropriate.
Key Responsibilities
- Underwrite new and renewal property binders, exercising judgment in all underwriting matters, and remaining aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with the Underwriting business plan.
- 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 Group Head of Delegated Property when appropriate.
- Service existing binder contracts and make amendments in line with the syndicate's underwriting philosophy.
- 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.
- Review rate structures, underwriting guides, policy wordings, and supporting documentation, exercising own judgment to ensure they are appropriate for the portfolio of business.
- Provide supporting data and reports for team meetings, internal and external meetings, and business plans as and when required.
Requirements
The ideal candidate will have advanced knowledge and understanding of:
- International Commercial property business, including liability associated with commercial property business.
- International Homeowners and High Value Home business.
- FCA / PRA and Lloyd's rules and regulations, including conduct risk and contract certainty issues.
- Lloyd's insurance market.
- Underwriting Principles.
- Legal Principles.
Munich Re Specialty Group is an equal opportunities employer and welcomes applications from diverse candidates. We are committed to building an inclusive and equitable work environment where diversity is celebrated and valued.
Benefits
At Munich Re Specialty Group, you'll find a competitive salary and a benefits package that promotes wellbeing and work-life balance, including a non-contributory pension, private medical care, life assurance, and more. We offer the flexibility, development, and support you need to excel your career.