At a Glance
- Tasks: Manage bespoke policies and underwrite new business in Political Risk insurance.
- Company: Join AIG, a global leader in innovative insurance solutions.
- Benefits: Comprehensive benefits package focused on health, wellbeing, and professional development.
- Other info: Inclusive culture with opportunities for continuous learning and career growth.
- Why this job: Make a real impact in a growing team while developing your underwriting career.
- Qualifications: Bachelor’s degree in Finance and 3+ years in the insurance sector preferred.
The predicted salary is between 55000 - 65000 £ per year.
Join us as a Political Risk Underwriter to grow your career at the forefront of Political Risk insurance. AIG is seeking an Underwriter in London within its well-established Political Risk group ‘PRG’ which specializes in the underwriting of non-credit perils and credit products (including sovereign and corporate credit products). The position would also be responsible for oversight of legacy transactions within its Global Risk Solutions offering.
This is an exciting opportunity with dual responsibilities:
- Managing an existing book of bespoke long dated policies spanning across various classes of businesses within AIG (including property and casualty liabilities).
- Responsible for underwriting new business within the Structured Credit (corporate credit) product offering of PRG.
The role will have both direct transactional party interaction as well as internal stakeholder responsibilities and ideally suit a candidate looking towards a career in Underwriting in the Credit Lines business.
Key Responsibilities:
- Analysing and evaluating new business opportunities within the Structured Credit product with a view to recommend (and/or approve) and price transactions that fit within AIG’s risk appetite.
- Working closely with the Senior Underwriters within the UK Political Risk team to drive business growth by leveraging existing suite of credit products and new product development.
- Manage deal reporting, ongoing premium calculation, invoicing and liaising with internal and external stakeholders to maintain operational aspects of the policies within the Global Risk Solutions (GRS) book.
- Establish and strengthen relationships with financial institution clients, distribution partners and reinsurers to develop and grow the business.
- Negotiate Insurance policy wordings with brokers and financial institutions and reviewing facility documentation.
- Preparation of in-depth internal credit risk (including extensive financial statement analysis) and other related transaction material in support of underwriting requests and recommendations.
- Proactively monitoring a diversified portfolio of Political Risk exposures to ensure compliance with internal policies and preparing regular updates and reporting for management (e.g. covenant monitoring, obligor performance, sector and country analysis).
What you’ll need to succeed:
- Bachelor’s Degree, preferably Finance related.
- 3+ years working experience in the Insurance sector, preferably with credit analysis experience.
- Transactional experience in Political Risk / Structured Credit is desirable.
- Analytical thinker and self-motivated to manage several new transactions at once, whilst dealing with existing transactions.
- Conscientious and diligent, able to manage time pressure and adhere to deadlines.
- Excellent interpersonal skills and a strong team player.
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriter - Political Risk in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like AIG Insurance. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Underwriter - Political Risk in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to AIG Insurance.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on AIG Insurance's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at AIG Insurance
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with AIG Insurance.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at AIG Insurance will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former AIG Insurance employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
