Underwriter II, Mergers & Acquisitions Insurance

Underwriter II, Merger & Acquisitions Insurance

AXA XL’s global Mergers & Acquisitions Insurance division focuses on the underwriting of transactional risk insurance solutions for private equity firms and corporate strategic buyers operating around the globe. These products, namely representation and warranty, tax opinion, tax credit and contingent liability insurance are used regularly by buyers and sellers and their advisors to quantify, price and allocate risk. Since establishing this business division in 2017, AXA XL has expanded its suite of products to key clients while creating a more efficient means for them to close deals and reduce uncertainty.

Our rapidly growing Mergers & Acquisitions unit is now looking to continue to scale by filling an Underwriter II position in the New York office to support its business functions.

As an M&A Underwriter you will play a vital role within the team where you will focus on establishing strong business relationships internally and externally and act as the critical interface between the broker and clients and the company when underwriting transactional M&A insurance. You will be expected to develop broker and client relationships as we continue to build out our underwriting capability in North America.

This position will report to Head of Mergers & Acquisition Insurance.

What will your essential responsibilities include?

• Reviewing and analyzing public and private M&A transaction documentation, due diligence reports, and target company financial statements/quality of earnings reports in order to identify deal risks, assess target company financial strength and perform pre-underwriting analysis used in quoting representations and warranties insurance.
• Drafting and submitting custom-tailored quotes for proposed M&A insurance policies and following up with brokers to win new business.
• Interacting with and supporting the M&A management team with day-to-day business issues and leading the underwriting process on transactions including performing detailed analysis of issues raised on underwriting calls and in due diligence reports.
• Negotiating and drafting insurance policy terms and language specifically addressing the risk and issues in each transaction.
• Collaborating with and supervising outside legal counsel and/or accountants hired to represent AXA XL with due diligence on each transaction.
• Developing and cultivating relationships with M&A insurance brokers, lawyers, private equity firms, deal principals and internal AXA XL colleagues.
• Gathering underwriting information via the internet and other publicly available sources and completing underwriting analysis for each unique risk.
• Conducting financial analysis on target companies and potential insureds.

We’re looking for someone who has these abilities and skills:

Corporate experience working in a transaction-oriented role such as M&A insurance underwriting, investment banking, private equity or other financial services advisory capacity, in-house corporate legal team or law firm experience, internal corporate development team at a strategic acquirer or a transaction advisory services role at an accounting firm preferred. We will also consider candidates with significant financial lines underwriting experience from an established insurance carrier.

• Knowledge of transactional legal exposures (warranty breaches, tax structuring issues, price adjustment mechanisms, litigation, and computation and measure of damages).
• Ability to comprehend financial statements and comfort addressing tax issues and other commercial matters.
• Financial Accounting / Auditing experience a plus.
• Specific experience with procuring, broking or negotiating representations and warranties insurance or other transactional risk insurance on behalf of deal clients is a strong plus.
• Excellent written and oral communication skills.
• Effective negotiating skills and comfort working with legal documents.
• Self-starter, highly focused, enthusiastic and creative thinker. Keen ability to work independently with minimal oversight is a strong plus.
• Well-rounded interpersonal skills and ability to…