At a Glance
- Tasks: Manage bespoke policies and analyse new business opportunities in Political Risk insurance.
- Company: Join AIG, a leader in global specialty insurance with a focus on innovation.
- Benefits: Comprehensive benefits package for health, wellbeing, and professional development.
- Other info: Dynamic work environment with opportunities for career growth and development.
- Why this job: Make an impact in a growing team while developing your underwriting career.
- Qualifications: Bachelor’s degree in Finance and 3+ years in the insurance sector required.
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.
Make your mark in Global Specialty
AIG underwriting teams help to find insurance solutions in areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, Multinational Clients, and High Net Worth individuals.
We are reimagining how we help customers to manage risk, transforming our operating model, and reshaping our role responsibilities and career pathways.
AIG is seeking an Underwriter in London with 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.
The role sits within the Credit Lines Specialty business at AIG.
With underwriting hubs in Asia, EMEA and North America, the Political Risk group manages a global risk portfolio.
This is an exciting opportunity with dual responsibilities within a team earmarked for growth within Global Specialty.
How You Will Create An Impact
The Underwriter will have dual responsibilities
- Managing an existing book of bespoke long‑dated policies spanning across various class of businesses within AIG (inc property and casualty liabilities; and responsibility for underwriting new business within Structured Credit (corporate credit) product offering of PRG).
- Responsible for both direct transactional party interaction as well as internal stakeholder responsibilities, ideally suiting a candidate looking towards a career in Underwriting in the Credit Lines business.
- 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 UK Political Risk team to drive business growth by leveraging on existing suite of credit products and new product development.
- Managing deal reporting, ongoing premium calculation, invoicing and liaising with internal & external stakeholders to maintain operational aspects of the policies within the Global Risk Solutions (GRS) book.
- Establishing and strengthening relationships with financial institution clients, distribution partners and reinsurers to develop and grow the business.
- Negotiating insurance policy wordings with brokers and financial institutions and reviewing facility documentation.
- Preparing in‑depth internal credit risk (including extensive financial statement analysis) & 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 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.
- Enjoy Benefits That Take Care Of What Matters
At AIG, our people are our greatest asset.
We know how important it is to protect and invest in what’s most important to you.
That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.
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.
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.
If you believe you need a reasonable accommodation, please send an email to candidatecare@aig. com.
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Underwriter - Political Risk employer: AIG
AIG is an exceptional employer located in Manchester, offering a dynamic work environment that fosters professional growth and development within the Financial Lines sector. With a strong emphasis on employee wellbeing, AIG provides a comprehensive benefits package and encourages a culture of collaboration and innovation, making it an ideal place for those looking to make a meaningful impact in the field of cyber underwriting.
