Senior Underwriter - Property

Senior Underwriter – Property (m / f / d)

We are looking for an Underwriter – Property (m / f / d), based in Cologne or Frankfurt.

Allianz Commercial specializes in corporate property insurance for the most complex and challenging risk exposures in more than 200 countries and territories. With a focus on larger international risk portfolios, we offer tailor‑made ‘All Risks’ property damage and business interruption insurance through our global network. Our experience speaks for itself: the majority of Global Fortune 500 companies rely on us, managing over 1,000 global property insurance programs.

The underwriting team averages over 20 years of experience and works closely with a worldwide team of risk consultants and claims specialists.

Reporting to the Underwriting Team Leader, you will facilitate the success of both new and renewed business initiatives, ensuring alignment with Line of Business (LoB) targets. This involves skillfully negotiating participation, pricing, and terms and conditions to optimize profitability. The ownership and management of client accounts are integral components, emphasizing the need to cultivate and sustain robust relationships with both brokers and clients.

• Underwrite new and renewal accounts to meet financial targets.
• Negotiate terms and conditions, pricing, and participation with brokers.
• Proactively manage capacity and evaluate Natural Catastrophe Accumulation.
• Adhere to the Line of Business (LoB) governance framework and guidelines.
• Ensure contract certainty and utilize global pricing tools.
• Facilitate placement and binding of FAC Reinsurance.
• Support policy administration, credit control, and acquisition/retention efforts.

• 3 to 5 years of previous property experience, can be from insurer or broker.
• Knowledgeable about legal and regulatory frameworks.
• Experience working in a complex, global matrix organization.
• Demonstrated influencing skills without executive authority.
• Strong analytical skills for absorbing and examining data in detail, drawing appropriate conclusions.
• Fluency in English and German is essential.

• Hybrid working model, balancing in‑person collaboration with remote work and flexible arrangements.
• Competitive compensation, a generous bonus scheme, and a pension plan (details vary by location).
• Career development opportunities, digital learning programmes and international career mobility, fostering lifelong learning.
• Health and wellbeing support: private healthcare, generous parental leave, and assistance for returning after career breaks.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email

Allianz Commercial has an in‑house recruitment team, which focuses on sourcing great candidates directly. We do not accept unsolicited resumes from agencies or search firm recruiters. Fees will not be paid if a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place; please do not contact managers directly.

Learn more about careers at Allianz Commercial by clicking here.