Class Underwriter – Power & Renewables

Job Summary

The Class Underwriter - Power & Renewables, will lead the Power & Renewables team, which has Underwriters in London, Amman, Dubai, Kuala Lumpur and Casablanca. The Class Underwriter is responsible for the achievement and profitable growth of the P&R account, which currently has a value of around USD 26 million. They will review and underwrite Power & Renewables submissions received by IGIUK Ltd, determining and evaluating the nature and extent of the risk involved, maximising profit, whilst minimising the risk exposure to the business.

IGI - International General Insurance Co. Ltd. is a leading international specialist commercial insurer and reinsurer with a global portfolio of Energy, Property, Construction & Engineering, Ports & Terminals, Marine, Financial Institutions, General Aviation, Professional Indemnity, Casualty, Directors’ and Officers’, Legal Expenses, Political Violence, Contingency and Treaty Reinsurance. Registered in Bermuda as a limited liability company, with operational headquarters in Amman, Jordan and offices in London, Malta, Bermuda, Norway, Dubai, Kuala Lumpur and Casablanca, we aim to deliver outstanding levels of service to our clients and brokers.

Our ratings reflect the financial strength of our business: “A” (Stable) from AM Best; “A-” (Stable) from S&P. In 2024, we had net earnings of $135.2 million. Our holding company has assets in excess of $2,037.6 million, as at 31 December 2024.

• Underwriting new business profitably and accurately, reviewing and analysing (Re) insurance proposals received by IGIUK in order to determine what degree of risk, if any, to accept on the business’s behalf, by reference to relevant, up to date market information, statistics and specialist data.
• Negotiating the most favourable terms with brokers and clients, ensuring that IGIUK’s income is maximised whilst its risk exposure is minimised.
• Ensuring that all decisions regarding the insurance terms to be offered to clients are made in accordance with IGIUK’s documented Underwriting procedures

• Liaising regularly with the IGI Group underwriting team based in Jordan, KL, Dubai, Casablanca and other offices, to ensure that procedures and process are operating as required and in a consistent manner.
• Undertaking regular peer reviews in accordance with IGIUK’s internal standards and requirements.
• Reviewing underwriting decisions made in IGI’s other offices, providing supporting recommendations as appropriate.
• Ensuring that individual responsibilities and accountabilities are carried out in line with regulatory and statutory requirements, particularly those relating to FCA’s principles covering Treating Customers Fairly and the general safeguards aimed at preventing financial crime.

• Responsible for balancing a growth in volume without losing profitability across the line of business
• Ensuring all direct reports operate within their respective underwriting authorities, reporting any breaches to the Head of Energy
• Ensure any audit requirements and recommendations are promptly implemented and maintained
• Ensure implementation of risk appetite and tolerance for each of the key risk areas

• Maintain and develop where required all aspects of client relationship management and third party service providers
• Actively manage and grow broker relationships both in the UK and overseas

• Assess and report where necessary to the Head of Energy, any emerging risks within the class of business
• Recommend and review appropriate new business products
• Ensure all KPI’s are upheld for new business generation

• Ensure an appropriate level of personal specialist knowledge and competence is maintained through a defined programme of training and continuing professional development as determined by prevailing regulatory requirements and internal standards

• Direct line management and leadership to Senior Underwriters, Underwriters, Assistant Underwriters
• Manage and review performance of all direct reports

• An…