Underwriter, Insurance

The W&I team is currently looking for a M&A consultancy / advisory specialist with exposure to M&A transaction processes, due diligence, sale and purchase agreements, and related deal documentation (with direct experience of W&I insurance a plus) or experienced W&I underwriter to compliment it’s existing expertise of market experience, law, tax and financial due diligence. You will be joining a highly motivated team at an exciting time as we look to establish ourselves as the market leader in W&I SME risks and embrace new ideas in terms of portfolio construction, policy development and IT/AI solutions.

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Who we are:

Business Unit overview:
Professional & Financial Risks (PFR) focus on international and UK-domiciled business. The team is made up of five business divisions, Professional Indemnity, Management Liability, Warranty & Indemnity, Financial Institutions and Cyber Liability. We provide excellent service via our knowledgable underwriters who are available both at Lloyd’s and in our offices. We have a flexible and innovative approach to underwriting that ensures that we can provide the product required by our customers.

The Warranty & Indemnity (W&I) team is currently comprised of 9 individuals:
Director - Head of W&I, three Senior Underwriters, an Underwriter, three Assistant Underwriters and a Graduate Assistant Underwriter. It is a relatively new team that was set up in Q4 2022 to write open market W&I risks. PFR has supported a broad portfolio of coverholders in the transactional liability space since 2014, which has performed well and informed a long-term strategy to underwrite directly alongside the delegated book.

The team focuses on underwriting SME risks (deal sizes of c. GBP/USD/EUR 3m to 300m) in the UK and Europe, using the data and insights from its cover holder portfolio and the resources of a global, multi-line specialist insurer. Part of Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.

Contributing to the W&I underwriting strategy to establish a market leading team within the W&I marketplace. Review and underwrite new risks using a technical rating model and coverage guidelines that we have developed. Harvest insights from the sizeable data pool we have access to through the 10+ years of supporting coverholders to derive claims trends and inform underwriting approach. Build and develop positive relationships with new and existing brokers, other distribution partners and private equity / acquisitive corporate clients, and establish yourself as a market leader in your skill-set.

Support the analysis of overall portfolio data and act upon those findings – i.e., iterate on the rating model and coverage guidelines as the book matures to expand margin and drive profitable growth over the market cycle. Develop skills in negotiating policy terms and conditions. Help to build and maintain strong working relationships within Markel.

• Technical Underwriting Experience with in your specialist skill-set relevant for W&I underwriting or direct experience underwriting W&I risks.
• Strong understanding of the risks inherent in underwriting W&I from the perspective of your specialist skill-set.
• Develop an understanding of the principles of the technical rating engine and monitor portfolio rate adequacy according to Markel’s underwriting principles and in line with authority limits.
• Use analytical skills to improve Markel’s underwriting capabilities (e.g. loss performance and underwriting efficiency).
• Work…