Underwriter, Insurance

Together, we engage with everything we have and are, to help humankind act braver and better.

About Facultative & Corporate:
Munich Re’s large, international network of experts places us in a strong position to develop solutions for highly complex risks. The sectors we serve and the solutions we offer are diverse, but they all share one thing in common: the substantial financial foundation of Munich Re. The industrial insurance arm of Munich Re Group, which means our clients are multinational corporations.

We write both traditional and non-traditional insurances through 6 lines of business; namely, Property, Energy, Casualty, Engineering, Cyber and what we term Special Enterprise Risks. We overlay these underwriting activities with support from our Client Management and Claims & Operations units. Our clients are complex, diverse, and domiciled across the world. Therefore, we also need to be global, and we do this by positioning staff in strategic markets and locations as well as travelling to meet clients.

Close contacts are very important

The Energy business unit within Munich Re F&C (Facultative & Corporate) provides bespoke insurance solutions to the global Downstream Energy, Mining and Power industries. The team is a recognised market leader across these classes in both the London and international Energy insurance markets.

The Downstream Energy Corporate team is seeking an Underwriter for a London-based role. This is a front-line position involving daily engagement with brokers and clients, alongside close collaboration with colleagues across Munich Re.

• Underwrite new and renewal Global Downstream Energy Oil & Gas business in line with agreed strategy and within delegated underwriting authority.
• Assess risks, including pricing, wording analysis, accumulation management, and acceptance of large and complex energy risks.
• Lead and support negotiations with brokers and clients.
• Represent Munich Re as a key market participant and thought leader within the Downstream Energy insurance market.
• Collaborate closely with other Munich Re business units to deliver integrated solutions.
• Develop, maintain and grow strong relationships with clients and brokers.
• Contribute to portfolio development through the proactive acquisition of profitable new business.
• Support portfolio analysis and the preparation of statistics and management reporting.
• Contribute to a collaborative and inclusive team environment that supports the Downstream Energy community in achieving its short-, medium- and long-term objectives.

• Work with Energy Management to support the development and delivery of business strategy.
• Build strong relationships across Munich Re entities to enhance collaboration and support portfolio development across the Group.
• Share best practice, insights and expertise within the Energy team and the wider Munich Re community.
• Stay informed of legal, regulatory and market developments relevant to the lines of business.
• Represent the Energy team at internal and external meetings, committees and industry events, including client engagements and presentations where appropriate.
• Participate in risk inspections and underwriting reviews.

• Professional insurance experience within direct and/or facultative insurance, with a focus on industrial energy property insurance.
• Strong knowledge of risk assessment and pricing methodologies, with experience in policy wording analysis.
• Proven negotiation skills and experience engaging with clients and brokers on terms and conditions.
• A relationship-focused approach with the ability to build and sustain long-term client and broker partnerships.
• A collaborative team-oriented mindset and high level of personal commitment.
• A proactive, solutions-focused approach with strong problem-solving capability.
• Fluent written and spoken English.
• Willingness to travel as required.

• Experience working with analytics and data-driven insights.
• Progress towards or attainment of CII qualifications.

• A university degree, preferably in an engineering, economics or related discipline.

You will…