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- Tasks: Lead underwriting for Political Violence risks and drive business growth.
- Company: Join Munich Re, a top-tier specialty insurance provider with a supportive culture.
- Benefits: Enjoy 25 days leave, private medical insurance, and hybrid working options.
- Why this job: Be part of a dynamic team that values curiosity and boldness while making a social impact.
- Qualifications: Advanced knowledge of underwriting principles and political violence risks required.
- Other info: Diversity and inclusion are at our core; we encourage all backgrounds to apply.
The predicted salary is between 54000 - 84000 £ per year.
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Senior Terrorism & Political Violence Underwriter
Sector: Insurance
Role: Senior Executive
Contract Type: Permanent
Hours: Full Time
About 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.
Senior Terrorism & Political Violence Underwriter
We are currently looking for a Senior Underwriter to be based in London on a full-time basis, reporting into the Group Head of Terrorism & PV. You will ensure the prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.
Responsibilities:
- Assist in the creation and delivery of the business plan for the Political Violence team and be a driving force of the underwriting, accountable for ensuring targeted income levels are met throughout the year and growth targets are met year-on-year.
- Underwrite Political Violence risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan.
- Establish and run projects and initiatives such as new sub-classes and products to serve clients and diversify the portfolio from both a risk and income perspective.
- Conduct book review as well as regular monitoring and portfolio management to ensure the business plan is being executed.
- Monitor recording of all aggregate and reporting information.
- Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority.
- Make written records of all conversations with customers, both internal and external, in accordance with the firm’s procedures manual.
- Negotiate new wordings and structures, ensuring clients’ needs are serviced and regulatory requirements met, whilst preserving a prudent risk appetite, in line with the syndicate and team’s underwriting strategy.
- Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
- Ensure that all contract certainty issues are addressed for all relevant risks.
- Review and administer existing contracts and make amendments in line with MRSG’s underwriting philosophy.
- Monitor recording of risk entry and amend where appropriate.
- Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Political Violence Account.
Knowledge and Skills
Advanced knowledge and understanding of:
- Underwriting Principles;
- Legal Principles;
- FCA and Lloyd’s rules and regulations including contract certainty issues;
- All company specific procedures that relate to own role and role of those employees that you are supervising;
- Political Violence risks.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set-up Support
#BePresent #BeBold #BeCurious
Company
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Senior Terrorism & Political Violence Underwriter employer: ENGINEERINGUK
Contact Detail:
ENGINEERINGUK Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Terrorism & Political Violence Underwriter
✨Tip Number 1
Familiarize yourself with the latest trends and developments in political violence and terrorism insurance. This knowledge will not only help you during interviews but also demonstrate your commitment to staying informed in this specialized field.
✨Tip Number 2
Network with professionals in the insurance industry, particularly those focused on political violence underwriting. Attend relevant conferences or webinars to connect with potential colleagues and learn from their experiences.
✨Tip Number 3
Prepare to discuss specific case studies or examples of political violence risks you've encountered or studied. Being able to articulate your thought process and decision-making in these scenarios will set you apart from other candidates.
✨Tip Number 4
Showcase your understanding of regulatory requirements and compliance issues related to underwriting in your conversations. This will highlight your expertise and reassure the hiring team of your ability to navigate complex legal landscapes.
We think you need these skills to ace Senior Terrorism & Political Violence Underwriter
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Senior Terrorism & Political Violence Underwriter position. Understand the key responsibilities and required skills, as this will help you tailor your application effectively.
Highlight Relevant Experience: In your CV and cover letter, emphasize your experience with underwriting principles, legal regulations, and political violence risks. Use specific examples that demonstrate your expertise and how it aligns with the company's needs.
Showcase Your Skills: Clearly outline your advanced knowledge of FCA and Lloyd's rules, as well as your ability to negotiate and manage contracts. This is crucial for the role, so make sure these skills stand out in your application.
Personalize Your Application: Address your cover letter to the hiring manager if possible, and express your enthusiasm for the role and the company. Mention how your values align with Munich Re's commitment to diversity, equity, and inclusion.
How to prepare for a job interview at ENGINEERINGUK
✨Understand the Underwriting Principles
Make sure you have a solid grasp of underwriting principles, especially as they relate to Political Violence risks. Be prepared to discuss how these principles guide your decision-making process in underwriting.
✨Showcase Your Knowledge of Regulatory Requirements
Familiarize yourself with FCA and Lloyd's rules and regulations, particularly regarding contract certainty issues. Demonstrating your understanding of these regulations will show that you can navigate compliance effectively.
✨Prepare for Scenario-Based Questions
Expect questions that require you to exercise judgment in underwriting matters. Prepare examples from your past experience where you successfully assessed risks and made informed decisions.
✨Emphasize Your Collaborative Skills
Highlight your ability to work within a team and engage with clients. Discuss how you have previously collaborated on projects or initiatives that required negotiation and communication skills.
