At a Glance
- Tasks: Underwrite Financial Institutions risks and manage client relationships in a dynamic team.
- Company: Join Faraday, part of Berkshire Hathaway, known for its stability and innovation.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Opportunity for career advancement in a collaborative and fast-paced setting.
- Why this job: Make an impact in the financial sector while growing your career with a leading syndicate.
- Qualifications: Experience in Financial Lines underwriting and strong communication skills required.
The predicted salary is between 55000 - 65000 £ per year.
About Us
Faraday is part of the General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway. In this respect we have a uniquely solid and stable financial capability. Faraday's Syndicate 435 at Lloyd's underwrites Aviation, Casualty (North American Specialist Lines, Financial Lines, International Casualty and UK Liability Insurance), Property (Direct & Facultative and Treaty), Agriculture and Energy. These distinct teams underwrite a diverse range of risks worldwide both on an insurance and reinsurance basis, developing close and mutually supportive relationships with clients and brokers in our chosen markets. Our customers are at the heart of everything we do.
Main Purpose of the Role
To support the Financial Lines team in the growth and portfolio management of the Financial Institutions (FI) account by underwriting renewal and new FI business.
Context of the Role
The FI account sits within a wider Financial Lines team and is a geographically diverse portfolio spanning both open market and delegated authority business. The portfolio was established in 2021 and with the benefit of market tailwinds was able to quickly build a solid portfolio which has consolidated over recent years. We are now seeking an FI Underwriter who will report directly to the Head of Financial Lines and work with him and the other FI team members to execute the FI underwriting strategy. Whilst the role will span all segments of the FI portfolio, a core focus will be working with the Head of Financial Lines in managing and growing the retail segment of the portfolio. This is an excellent opportunity for an existing FI Underwriter looking for a new challenge, or an Assistant Underwriter who is ready to step up within a well performing Lloyd’s syndicate.
Key Responsibilities
- Underwrite FI risks as per the underwriting guidelines and within underwriting authority limits. This includes reviewing underwriting submissions, populating rating models, reviewing wordings alongside broker negotiations.
- Meeting existing and potential clients both in group presentations and 1:1 meetings.
- Manage underwriting administration ensuring business is conducted in accordance with Faraday internal requirements.
- Maintaining existing and developing new broker relationships.
- Develop a full understanding of pricing models used by the FI team and work with the rest of the team and actuaries in their continued improvement.
- Function independently with limited direction over time whilst benefiting from the team’s collaborative approach to underwriting.
- Actively identify, define, and pursue new business opportunities to secure long-term, profitable relationships with clients and brokers.
- Review, evaluate and oversee new / renewal business and coverage requests based upon company underwriting guidelines, competition, and geographic focus.
- Maintain and grow market presence through regular broker engagement.
- Solicit new accounts, gather market intelligence, and provide up to date department information relating to products and services.
- Participate in peer review process both as underwriter and reviewer and contribute where required at the annual FI Risk Sampling.
- Perform all necessary travel as required for client meetings and marketing.
- Consult with the claims team to monitor loss trends.
- Demonstrating a positive attitude and strong value system (e.g., integrity, trustworthiness, respectful).
- Continuously improve own skills.
Qualifications & Experience
- Significant relevant experience within the Financial Lines market.
- Existing Financial Institutions underwriting authority and broker relationships.
- Prior experience of retail business (e.g., UK, Europe, Australia etc.) is desirable.
- Sound technical expertise especially knowledge of wordings and typical claim scenarios.
- Advanced IT Skills within the MS Suite of products, particularly Excel and PowerPoint are essential.
Competencies
- Strong negotiating and influencing skills.
- Sound verbal and written communication skills/ interpersonal skills.
- Good industry background with prior FI experience in an underwriting role.
- Understanding of basic actuarial principles.
- Team player.
- Strong work ethic and a sense of urgency.
- Industry knowledge.
- Problem solving.
- Results oriented.
- Decision-making.
- Managing change.
- Strategic thinking.
Closing Date: 30 June 2026
Our Address: Faraday Underwriting Limited, Corn Exchange, 55 Mark Lane, London, EC3R 7NE (UK)
It is the continuing policy of the Gen Re Group to afford Equal Opportunity to qualified individuals without regard to race, color, sex (including childbirth or related medical conditions), religion, national origin or citizenship, sexual orientation, gender identity, or any characteristic protected by applicable law. In addition, Gen Re provides reasonable accommodation for qualified individuals with disabilities in accordance with the Americans with Disabilities Act.
Financial Institutions Underwriter employer: Faraday
Faraday Underwriting Limited, part of the General Re Corporation and Berkshire Hathaway, offers a dynamic work environment in the heart of London, where employees are encouraged to develop their skills and grow within a supportive team. With a strong focus on collaboration and client relationships, Faraday provides excellent opportunities for professional development in the Financial Institutions sector, alongside competitive benefits and a commitment to diversity and inclusion.
StudySmarter Expert Advice🤫
We think this is how you could land Financial Institutions Underwriter
✨Tip Number 1
Network like a pro! Get out there and connect with industry professionals, especially those in the Financial Lines sector. Attend events, join online forums, and don’t be shy about reaching out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know!
✨Tip Number 2
Prepare for interviews by researching Faraday and its unique position in the market. Understand their underwriting strategies and be ready to discuss how your experience aligns with their goals. We want to see your passion for the role and how you can contribute to the team!
✨Tip Number 3
Showcase your skills! Bring along examples of your previous work, especially any successful underwriting cases or broker relationships you've managed. We love seeing tangible proof of your expertise and how you’ve made an impact in your past roles.
✨Tip Number 4
Don’t forget to follow up after interviews! A quick thank-you email can go a long way in keeping you top of mind. It shows your enthusiasm for the role and gives you another chance to reiterate why you’re the perfect fit. And remember, apply through our website for the best chance!
We think you need these skills to ace Financial Institutions Underwriter
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experience that are relevant to the Financial Institutions Underwriter role. Highlight your underwriting authority and any broker relationships you've built, as these are key for us.
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about the Financial Lines market and how your background makes you a great fit for our team at Faraday.
Showcase Your Technical Skills:Since advanced IT skills are essential, don’t forget to mention your proficiency in Excel and PowerPoint. We want to see how you can leverage these tools in your underwriting process.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for this exciting opportunity with Faraday!
How to prepare for a job interview at Faraday
✨Know Your Financial Lines Inside Out
Before the interview, make sure you brush up on your knowledge of Financial Lines, especially in relation to Financial Institutions. Understand the key risks and underwriting guidelines that Faraday follows, as well as recent market trends. This will show your genuine interest and expertise in the field.
✨Prepare for Client Engagement Scenarios
Since the role involves meeting clients and brokers, think about how you would approach these interactions. Prepare examples of how you've successfully built relationships in the past, and be ready to discuss your negotiation strategies. This will demonstrate your ability to manage and grow broker relationships effectively.
✨Showcase Your Technical Skills
Given the importance of advanced IT skills, particularly in Excel and PowerPoint, be prepared to discuss how you've used these tools in your previous roles. Consider bringing a portfolio or examples of your work that highlight your technical expertise, especially in pricing models and underwriting submissions.
✨Demonstrate a Collaborative Mindset
Faraday values teamwork, so be ready to talk about how you've worked collaboratively in the past. Share specific instances where you contributed to a team’s success or helped improve processes. This will align with their emphasis on a collaborative approach to underwriting.
