Facultative Property Engineering & Energy Sr. Underwriter

Facultative Property Engineering & Energy Senior Underwriter

All locations:
Chicago, United States;
New York, United States.

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 work together to 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) was created to bundle Munich Re's facultative and corporate business into one global unit. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

Future focused and always one step ahead! The Engineering & Energy business units of Munich Re F&C (Facultative & Corporate) provide custom‑made insurance solutions to the power, energy and construction industries. The team is a recognized market leader in these classes of business. For the Munich Re F&C (MRF&C) North America Corporate Engineering & Energy team, we are looking for a qualified Facultative Power, Energy & Construction Underwriter.

The underwriter is to be based in either New York or Chicago.

In this role you will underwrite and manage a growing pipeline of construction, power, renewable energy and down/midstream energy and specialty chemical risk accounts within the Property Facultative US Division of Munich Re Facultative and Corporate, and contribute to its overall profitability. You will apply specialized underwriting risk analysis skills and insurance knowledge to adequately assess and price the potential exposures to Power, Energy and Construction Risks underwritten in the unit.

You will determine the commensurate terms and conditions applicable and consider risk‑sharing acceptances.

• Develop and maintain strong market presence by developing client and broker strategies.
• Develop new business opportunities and promote Munich Re Group's capabilities and competencies externally.
• Establish and maintain sound contact with clients and brokers, keeping abreast of market and industry developments and client needs.
• Promote MRF&C Engineering & Energy capabilities and competencies.
• Produce and underwrite a variety of civil, energy and power construction projects through contacts with brokers and cedants in line with MR F&C risk appetite.
• Produce and underwrite Engineering (Power-Gen & Construction) and Energy business in line with MR F&C risk appetite.
• Negotiate and conclude offers, terms of contract with cedants/brokers and, when necessary and feasible, submit counter proposals.
• Use the given pricing and layering models.
• Review policy forms for compliance with MRF&C guidelines, strategies and best practices developed for MR F&C Engineering & Energy and provide solutions where practical.
• Track and monitor losses and keep up to date on industry loss trends. Work with the Claims department as needed.
• Identify additional requirements and propose improvements to existing MR F&C Energy & Engineering guidelines, strategy and best practices, where appropriate.
• Ensure that a consistent standard in the underwriting process of Munich Re's energy and engineering business is adhered by way of 4‑eyeing and peer‑reviewing accounts.
• Be a support/referral resource to other underwriters and units providing engineering insurance underwriting expertise and input where required.
• Help to analyze and evaluate the distribution of limits, attachment points and layers for our Engineering & Energy portfolio to maximize profitability potential.
• Demonstrate proficiency in the use of data and analytics tools, ensuring all required risk information is captured and evaluated appropriately.
• Assist the Head of Property Facultative US and when required in fulfilling all managerial and administrative duties of the Engineering Group.
• Participate in appropriate energy and engineering‑industry seminars/workshops to elevate Munich Re's…