Assistant Underwriter - Downstream Energy, UK & Lloyd\'s

AXA XL Energy is looking for an assistant underwriter to take on a key role within the London team. The role will include both administrative and underwriting tasks as well as broker and client facing meetings. You will be part of a team responsible for a broad portfolio of onshore energy risks, including downstream and midstream sectors alongside power generation, renewables and transmission and distribution. Prior experience in an underwriting role is essential, however, energy-specific experience is not. The portfolio has a solid foothold in the conventional oil and gas and power generation markets; it is also pivoting in line with the Energy Transition and has a growing segment dedicated to technologies contributing towards a carbon net zero future. This includes more established clean technologies such as onshore wind, solar and nuclear sectors as well as emerging technologies such as carbon capture, hydrogen, and sustainable fuels. Key to the role will be the ability to navigate this fast-moving space whilst maintaining underwriting discipline and taking calculated risks.

Onshore Energy forms part of the wider London Energy team, which also includes Exploration and Production, Offshore Wind and Energy Liability. This is a regulated role under the Central Bank of Ireland’s Fitness and Probity regime.

What you’ll be doing

• Reviewing submissions including applications, policy wording, inspection reports, loss runs, and financial reports while conducting appropriate research to determine degree of risk for each account.
• Calculating appropriate risk premium by considering the risk costs inherent to the sector, reinsurance cessions as well as the Underwriting and general administration costs while ensuring profitability.
• Proactively advising, assisting, servicing and following up with clients on insurance and risk management matters to ensure satisfaction and fulfillment of their insurance requirements.
• Effective relationship management to initiate opportunities for cross-selling offered products and ensuring account retention.
• Controlling timely implementation of new and renewed accounts according to quality standards.
• In coordination with other internal teams, determining appropriate reinsurance for risk placements both on excess of loss and quota share basis.
• Reviewing loss control reports and managing policy endorsement requests to process any necessary changes to the policy.
• Support the business planning and forecasting process; monitor financial exposure within outlined limits; monitor premium income to ensure it remains within set limits.
• Maintain awareness of all claims advised while supporting and providing input on settlement of claims.
• Working collaboratively in a team environment, assisting underwriters, underwriting assistants and management team.

You will report to the UK Head of Downstream, Power and Renewables.

What you’ll bring

• Proven Underwriting Assistant / Assistant Underwriting experience, preferably across Energy and/or related Specialty lines.
• General computer competency, including experience using Microsoft Outlook, Excel, Word, PowerPoint.
• Experience on insurance data entry systems and processes.
• Have a logical approach to complex data, with excellent analytical and problem-solving skills.
• Ability to communicate effectively.
• Proactive organization skills and exceptional attention to detail.
• Ability to get stuck in and be a team player for all business needs.

What we offer

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture enables business growth and is critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future.