Senior Political Risk & Credit Underwriter

Job d:

Location:

London, England, United Kingdom Category:
Claims & Underwriting Company:
Munich ReAbout 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.

Senior Political Risk & Credit Underwriter We are looking for a Senior Political Risk & Credit Underwriter to join our London team full-time, reporting to the Group Head of Political Risk and Credit. This strategic role offers a chance to influence underwriting strategy, shape product innovation, and contribute to Munich Re’s growth and reputation in the London market.

The ideal candidate will have proven experience in complex risk analysis across diverse products such as structured commodity finance, project finance, trade finance, real estate finance and fund finance. Strong technical skills in wording and contract review, combined with commercial acumen and geopolitical awareness, are essential. You will underwrite to maximize profit while maintaining our firm’s integrity, regulatory compliance, and commitment to meeting clients’ needs , building deep broker and client relationships along the way.

Munich Re provides a generous benefits package, extensive training, and career development opportunities within a collaborative and technically excellent team. Join us to play a key role in driving the future of political risk and credit underwriting.

Responsibilities:
Assist in creating and delivering the Political Risk & Credit business plan, driving underwriting performance to meet targeted income and growth objectives year-on-year;

Underwrite Political Risk & Credit risks within your authority, exercising sound judgment aligned with the underwriting business plan and risk appetite;

Prepare detailed internal political and credit risk analysis, working closely with the team’s Credit Analysts to support underwriting decision making;

Build and maintain strong relationships with clients, brokers, reinsurers and internal stakeholders to retain quality business and secure new opportunities consistent with Munich Re Specialty Group’s appetite;

Lead the development and training of junior team members, supporting their technical and professional growth through coaching and increased underwriting responsibilities;

Proactively monitor the existing book with regular monitoring and portfolio management to ensure the business plan is being executed and new exposures adhere to the target portfolio mix;

Initiate and manage projects and new product initiatives to diversify the portfolio from both risk and income perspectives;

Review and negotiate policy wordings, contracts, and amendments to ensure contract certainty, regulatory compliance, clients’ needs, and prudent risk appetite aligned with team and syndicate strategies;

Conduct regular portfolio reviews and monitoring, including aggregate management and reporting, ensuring execution in line with the business plan and maintaining audit trails as per MRSG procedures;

Provide analytical support, including risk entry reporting, supervision of income flows monitoring, and preparation of management reports,Promote strong risk management and conduct standards by owning risk controls, escalating issues timely, and engaging with key stakeholders such as syndicate management, reinsurers, actuarial, pricing, and claims teams to deliver excellent customer outcomes.

Knowledge and Skills Advanced (Level
3) knowledge and understanding of:

Underwriting Principles;

Legal Principles;

FCA and Lloyd’s rules and regulations including contract certainty issues;

All company specific procedures that relate to own role and role of those employees that you are supervising;

Political Risk & Credit Cover.

Advanced (Level
3) knowledge and understanding of:

Trade and Structured Credit;

Political Risk;

Political Violence.

Alongside…