Fac Program Underwriter

Facultative Program Underwriter

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. The offer will be commensurate with experience and we consider candidates in New York City (NY) or Chicago (IL).

As a member of Munich Re’s US operations, we offer the financial strength and stability that comes with being part of the world’s preeminent insurance and reinsurance brand. Our risk experts assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages to niche and specialty reinsurance and insurance products. Munich Re Facultative and Corporate (MR F&C) bundles Munich Re’s facultative and corporate business into one global unit, positioning Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

We see Diversity, Equity and Inclusion as a solution to the challenges and opportunities around us, fostering an inclusive culture that reflects the customers and communities we serve.

Future‑focused and always one step ahead! As an Underwriter, you will underwrite and price a portfolio of reinsurance business according to Munich Re guidelines, strategy and profitability standards. You will develop recommended risk pricing and terms within appropriate underwriting authority, complete risk analysis and assessment, evaluate coverage, and participate in client negotiations to maintain and grow a profitable portfolio.

• Independently underwrite and price moderate to highly complex business in accordance with corporate, divisional and department guidelines and philosophy.
• Produce, underwrite and manage the book of business in compliance with applicable underwriting guidelines, strategies and best practices.
• Perform the underwriting referral function as specified and as required in the underwriting guidelines and mandates.
• Help to fine‑tune and implement our portfolio strategy.
• Assure a high quality of underwriting through diligent review and continuous improvement.

• Technical guidance.
• Frequent feedback interactions.

• Develop and maintain strong market presence by developing client and broker strategies.
• Develop new business opportunities and promote Group’s capabilities and competencies externally in close cooperation with Client Management.
• Establish and maintain sound contact with clients and brokers, keeping abreast of market and industry developments and client needs.
• Excellent negotiation skills, facilitating and managing the complexities and challenges associated with offers, terms of contract with Brokers/Clients and, when necessary and feasible, submit counter proposals.
• Demonstrate advanced proficiency in the use of pricing models and other risk evaluation models.
• Strategic decision making based on data interpretation beyond models.
• Participate in and provide significant input for the business plan development.
• Self‑development planning to achieve business and developmental objectives.

• 10+ years of primary insurance and/or reinsurance experience.
• 5+ years of underwriting experience preferred.
• Bachelor’s Degree preferred.
• CPCU, ARe designations preferred.
• Demonstrated knowledge of General Liability, Automobile Liability, Umbrella/Excess Liability coverage and risk analysis.
• Knowledge of common facultative and treaty reinsurance structures and terms.
• In‑depth knowledge of the US insurance and reinsurance markets supported by attending industry workshops/conferences and active involvement in professional societies.
• Excellent oral and written communication skills. Ability to explain complex transaction structures to both technical and non‑technical audiences.
• High degree of intellectual curiosity combined with critical thinking skills, analytical problem‑solving abilities, and strong intuition to flexibly seek new ways to approach underwriting/pricing methodologies.
• Strong ability to interact effectively with clients, brokers, and colleagues.
• Effecti…