Senior US Delegated Property Underwriter

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 10720 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Claims & Underwriting Senior US Delegated Property Underwriter About us At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this. At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals. Please see our website for more information. Responsibilities Underwrite new and renewal Property binders, 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 of Delegated Property when appropriate; 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; Underwrite 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 Group Head of Delegated Property when appropriate; Service 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, conduct risk 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, exercising own judgment to ensure the account remains within the Underwriting business plan; Review rate structures, underwriting guides, policy wordings and supporting documentation, exercising own judgement to ensure they are appropriate for the portfolio of business; Monitor on a monthly basis the written and signed premium income of the property binder account; Monitor on an ongoing basis country and state aggregates to ensure that acceptances are within agreed limits; Manage risk management surveys; Prepare and review information for reinsurers as and when required; Provide supporting data and reports for team meetings, internal and external meetings, and business plans as and when required; Monitor recording of risk entry and amend where appropriate; Assist the Group Head of Delegated Property in the oversight and supervision of Underwriters, Assistant Underwriters and Underwriting Assistants where appropriate; Attend, contribute to or chair regular and ad-hoc Property binder team meetings, meetings with colleagues within GSI/ 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; Provide support to line manager on team and Munich Re Specialty, Munich Re Specialty Global Markets and Munich Re Syndicate strategic initiatives; Provide underwriting assistance on other classes of business, as and when required Knowledge and Skills US Commercial property business, including liability associated with commercial combined / package business; US 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; All company specific procedures that relate to own role and role of those employees that you are supervising; Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm; Develop and maintain market awareness. Diversity, Equity & Inclusion At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed. All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact. Learning and innovating today, striving for sustainable societies and business tomorrow At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues. Learn more about sustainability at Munich Re – choose your impact Benefits 25 days Annual Leave + Bank Holidays 10% Non-contributory Pension Eligibility for an Annual Bonus Private Medical + Dental Insurance Critical illness insurance + Life Assurance + Permanent Health Insurance Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility) Electric Vehicle Salary Sacrifice Scheme Study & continuing Professional Development Support Hybrid Working + IT Home Set-up Support #BePresent #BeBold #BeCurious Your Benefits With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply. Competitive Salary We provide fair and competitive compensation that reflects your performance and commitment. Company performance-based Incentives In addition to your salary, our variable compensation approach allows you to share in Munich Re's success. Recognition and Special Rewards We recognise outstanding individual contributions through a variety of targeted rewards and incentives. Retirement Planning We support your long-term financial wellbeing with retirement solutions aligned with local regulations. Inclusive Workplace Culture We foster a respectful, inclusive, and values-driven environment. Learning & Development We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge. Work-Life-Balance Supporting your ability to balance family, leisure, and your career. Health & Wellbeing We support your physical and mental health through a range of programs and activities in each location. #J-18808-Ljbffr