Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Assist in managing Liability portfolios and support underwriting processes.
- Company: Join Munich Re Specialty, a leading Primary Specialty Insurance provider with a supportive culture.
- Benefits: Enjoy perks like professional development support, wellbeing schemes, and flexible work options.
- Why this job: Be part of a dynamic team that values curiosity and boldness while making a social impact.
- Qualifications: Proven experience in Liability, with knowledge of insurance principles and regulatory standards.
- Other info: Diversity and inclusion are at our core; we welcome applicants from all backgrounds.
The predicted salary is between 36000 - 60000 £ per year.
About us At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, supported 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, enabling them to achieve their individual goals.
We are currently looking for an Assistant Underwriter to join us full-time at our London office, reporting to the Group Head of Liability. The ideal candidate will have proven experience in Liability (Marine, Energy & Marine Property). You will assist Liability Underwriters in the prudent underwriting of Marine and Energy Liability (including Marine Property) business, aligning with the business plan to maximize profit while maintaining the company's reputation and integrity, demonstrating care for customers and respecting regulatory obligations.
Responsibilities:
- Assist in managing the Liability portfolio, including performance monitoring, referrals, bordereaux management, rate adjustments, claims trends, reviews, underwriter visits, and audits; referring to Underwriters and the Group Head of Liability when appropriate.
- Support the underwriting of new and renewal Liability accounts, exercising judgment within your underwriting limits as per the Underwriting Authority sheet, in line with the business plan; referring to relevant managers as needed.
- Ensure accurate and timely data entry of all Liability risks following Syndicate procedures.
- Develop effective relationships with Coverholders and Brokers to strengthen existing trading relationships and secure new business within the business plan.
- Review slips, endorsements, and other placing documents with colleagues to ensure compliance with the business plan.
- Review rate structures, quote engines, pricing tools, underwriting guides, and policy documents to ensure appropriateness for the portfolio.
- Monitor written and signed premium income regularly.
- Price and monitor facultative business and binders.
- Undertake peer reviews as per the peer review process.
- Monitor exposures and aggregates to ensure acceptances are within limits.
- Provide data and reports for team and business meetings.
- Participate in team meetings and external meetings with brokers and other stakeholders.
- Follow company procedures and compliance standards.
- Monitor renewal reports and follow up on outstanding renewals.
- Support the manager with strategic initiatives.
- Perform any other ad-hoc tasks as directed by the team.
Knowledge and Skills
Understanding of:
- Insurance principles
- Legal principles
- FCA, PRA, Lloyd’s rules and regulations, including conduct risk and contract certainty
- Lloyd’s market operations
- Delegated property business
Additional skills include:
- Understanding of company procedures related to the role
- Awareness of colleagues' roles and business structure
- Willingness to develop knowledge through learning
- Awareness of risks and control measures in the role, reporting significant changes to management
Diversity, Equity & Inclusion
We foster innovation and resilience through diversity and inclusion, recognizing the multi-dimensional and intersectional nature of diversity. We aim to build a workforce that reflects a wide range of backgrounds and identities, and we are committed to an equitable and inclusive environment where everyone can succeed. Candidates can request reasonable adjustments during the recruitment process by contacting Talent Acquisition.
Our Approach to ESG
Our ESG strategy supports business opportunities and a stimulating, inclusive workplace. We focus on environmental, social, and governance topics, supporting community initiatives and volunteering opportunities.
Critical illness insurance, Life Assurance, Permanent Health Insurance Wellbeing and Development schemes, EAP, Health assessments (subject to eligibility) Electric Vehicle Salary Sacrifice Scheme Support for professional development and studies.
Assistant Underwriter, Liability employer: Munich Re
Contact Detail:
Munich Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assistant Underwriter, Liability
✨Tip Number 1
Familiarise yourself with the specific types of Liability insurance relevant to the role, such as Marine and Energy Liability. Understanding these areas will not only help you in interviews but also demonstrate your genuine interest in the position.
✨Tip Number 2
Network with professionals in the insurance industry, particularly those who work in underwriting or have experience with Marine and Energy sectors. Engaging with them can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Stay updated on current trends and regulations in the insurance market, especially those affecting Liability underwriting. This knowledge will show your commitment to the field and your ability to adapt to changes.
✨Tip Number 4
Prepare thoughtful questions about the company’s approach to underwriting and their business strategy during interviews. This shows that you are proactive and genuinely interested in how you can contribute to their goals.
We think you need these skills to ace Assistant Underwriter, Liability
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly understand the responsibilities and requirements of the Assistant Underwriter position. Familiarise yourself with the key skills needed, such as knowledge of insurance principles and legal regulations.
Tailor Your CV: Customise your CV to highlight relevant experience in Liability, particularly in Marine and Energy sectors. Emphasise any previous roles that involved underwriting or managing insurance portfolios, and include specific achievements that demonstrate your capabilities.
Craft a Compelling Cover Letter: Write a cover letter that showcases your enthusiasm for the role and the company. Mention how your background aligns with Munich Re Specialty's goals and values, and provide examples of how you have successfully managed similar tasks in past positions.
Highlight Your Soft Skills: In addition to technical skills, emphasise your ability to build relationships with brokers and Coverholders. Mention your communication skills and your willingness to learn and adapt, as these are crucial for success in this role.
How to prepare for a job interview at Munich Re
✨Understand the Role and Responsibilities
Before the interview, make sure you thoroughly understand the responsibilities of an Assistant Underwriter in Liability. Familiarise yourself with key tasks such as managing the Liability portfolio, supporting underwriting processes, and ensuring compliance with regulations. This knowledge will help you demonstrate your suitability for the role.
✨Showcase Your Industry Knowledge
Given the focus on Marine and Energy Liability, be prepared to discuss your experience and understanding of these areas. Highlight any relevant projects or roles you've had that align with the company's needs. This will show that you're not only qualified but also genuinely interested in the field.
✨Prepare Questions for Your Interviewers
Interviews are a two-way street, so prepare insightful questions about the company culture, team dynamics, and future projects. This shows your enthusiasm for the role and helps you assess if the company is the right fit for you.
✨Emphasise Your Relationship-Building Skills
Since the role involves developing relationships with Coverholders and Brokers, be ready to discuss your experience in building and maintaining professional relationships. Share examples of how you've successfully collaborated with others to achieve business goals, as this aligns with the company's emphasis on teamwork.
