Underwriter - Credit and Political Risk

IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

The role of an Underwriter at IQUW is challenging yet rewarding. The role offers the opportunity to become a key member of a leading, next generation underwriting team within IQUW Group’s growing Credit and Political Risks team. Our global offering indemnifies DFIs, commercial banks, traders, ECAs and corporates on their lending and asset exposures to contractual counterparties. These counterparties include both corporate (CR) and (sub-)sovereign (CF) entities, with the CR component being a particular growth area for us. The CR book currently consists of investment-grade counterparties and well-known structures including term loans, RCFs, LCs, and others. The key to success in this role will be a highly detailed and analytical underwriting approach, pro-active relationship management with a profit driven focus. You will also need excellent organisational skills.

Key responsibilities

• In collaboration with the Lead Underwriter, you will be responsible for delivering the approved Credit and Political Risk class of business plan and providing input towards the longer-term strategy.
• Demonstrate underwriting excellence across the CPRI portfolio by adhering to Lloyd’s regulatory framework along with IQUW risk appetite, standards and guidelines, rating and pricing adequacy.
• Underwrite all elements of the CPRI portfolio with a particular focus on Credit risks.
• Identify new opportunities for expansion of the CPRI portfolio, in accordance with the strategy set for the syndicate.
• Maintain high quality underwriting, appropriate exposure assessment, contractual terms and adherence to respective rules and guidelines.
• Assist with the development of the pricing models to support the underwriting/pricing of the portfolio.
• Maintain and establish strong relationships with our clients, intermediaries, and promote the IQUW brand.
• Provide a compelling and knowledgeable service offering to brokers and clients, making IQUW a go-to Market for CPRI.
• Adhere to IQUW Group’s compliance framework, policies and procedures and ensuring compliance with key regulatory and risk management responsibilities.

Essential qualifications, skills and experience

• A proven track record of and known reputation of underwriting in the Lloyd’s market across various segments of the Credit and Political Risk class.
• Excellent sales skills and an insatiable appetite to increase the profitability of the portfolio.
• A great communicator who can work with people at all levels, being just as comfortable with clients and leaders in the industry as they are with their own team.
• Excellent Broker and Client relationships and the ability to develop business from a variety of sources.
• Deep underwriting and portfolio management knowledge of the Credit and Political Risk class of business.
• Preference for a mixed skill-set of mature and emerging market underwriting experience, with a focus on Credit risks.
• Ability to run market standard credit risk assessment tools and ability to develop additional in-house capability as appropriate.
• Experience in collaborating with and influencing stakeholders inside and outside of the business.

Desirable behavioural attributes

• Interpersonal and relationship building skills.
• Strategic thinker, highly adaptable and resourceful in problem solving.
• Decisive in nature, displaying good judgement in decisions and taking responsibility for outcomes.
• Highly articulate and numerate.
• A team player.
• Innovative and able to generate creative solutions.
• Highly organised with a clear ability to prioritise and deliver on allocated tasks.