Senior Underwriter, Delegated Property

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 Underwriter, Delegated Property We are currently looking for a Senior Underwriter, Delegated Property to be based in London on a full-time basis, reporting into the Group Head of Delegated  this role, you will ensure the prudent underwriting of quality Delegated Property business in line with the business plan to maximize profit returns while upholding the firm’s reputation and integrity, demonstrating care for customers, and maintaining compliance with regulatory obligations.

Responsibilities:
Underwrite new and renewal Property binders within delegated authority limits, aligned with the Underwriting business plan, referring to the Group Head of Delegated Property as needed;

Manage property binders effectively, overseeing performance, EPI monitoring, referrals, bordereaux, rate movements, claims trends, reviews, underwriter visits, audits, and risk management surveys;

Service and amend existing binder contracts per syndicate underwriting philosophy, ensuring compliance, proper risk entry, and KYC through systems like S2000;

Develop and maintain strong relationships with Coverholders, Brokers, Lloyd’s, and wider market peers to enhance trading relationships, secure new business, and stay informed of market developments;

Regularly review slips, endorsements, risk placements, account performance, premium income vs. EPI, and country/region aggregates to ensure alignment with the Underwriting business plan and agreed limits;

Prepare and review reinsurer information, provide data/reports for meetings and business plans, monitor renewals, chase outstanding business, and support internal and external meeting activities including deputizing and chairing;

Assist the Group Head of Delegated Property with supervision of Underwriters, contribute to strategic initiatives across teams and Munich Re entities, and provide underwriting support on other classes as needed;

Ensure adherence to company procedures, compliance manuals, and conduct risk frameworks; understand escalation lines and report significant risk changes promptly to line management;

Support the drive for good business conduct to deliver optimal customer outcomes and respond to Peer Review Group queries related to the property account;

Perform any other ad-hoc tasks as directed by the Group Head of Delegated Property to support overall business objectives and governance.

Knowledge and Skills Advanced knowledge and understanding of:

UK commercial property market, including SME commercial combined/package and property owners business, competitors, brokers, third-party service companies, claims TPAs, and Adjusters;

FCA/PRA and Lloyd’s rules and regulations, including conduct risk and contract certainty issues;

Lloyd’s insurance market;

Underwriting principles.

Knowledge and understanding of:

UK commercial liability associated with commercial combined/package business;

Overseas property business;

Potential risks facing the business within own role and controls in place to mitigate them;

Roles of colleagues and their relationships to the syndicate’s structure and business plans;

Willingness to continue developing knowledge of products, underwriting, and related issues through…