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- Tasks: Underwrite and negotiate D&O and FI accounts while driving new business.
- Company: Join a leading Lloyd's MGA focused on SME and Mid Market sectors globally.
- Benefits: Enjoy competitive pay, professional development, and opportunities for travel.
- Why this job: Be part of a dynamic team shaping the future of financial institutions with impactful work.
- Qualifications: Strong experience in FI/D&O underwriting is essential; leadership skills are a plus.
- Other info: Opportunity to mentor junior underwriters and influence strategic business decisions.
The predicted salary is between 43200 - 72000 £ per year.
I am currently recruiting for a leading Lloyd's MGA who are seeking a Senior Underwriter to join their growing FI team. My client is looking for a FI/D&O Underwriting professional who has strong experience in this space. They focus on the SME - Mid Market region and write business globally. They are keen to bring someone in who is able to focus on new business, as well as renewals.
Key Responsibilities:
- Underwriting & Risk Assessment: Underwrite and negotiate D&O and FI accounts, ensuring consistency with the quality of risk, aligned with the company's strategy, and within individual underwriting authority.
- Business Development: Drive new business and maintain strong broker relationships by writing new and renewal business in line with agreed targets for Gross Written Premium (GWP).
- Portfolio Ownership: Take accountability for underwriting decisions and own the development and profitability of your book of business.
- Relationship Management: Develop and maintain close, effective relationships with brokers, insurers, and clients, including travel and client entertainment where necessary.
- Client Meetings: Encourage reciprocal visits from brokers and customers, actively participating in meetings and taking a lead role where appropriate.
- Compliance: Ensure all underwriting activity complies with relevant legislation, underwriting agreements, and industry best practices.
- Market Awareness: Stay informed about market conditions, especially in the SME and mid-market segments for D&O and FI lines.
- Strategic Contribution: Work with the leadership team to support the development and execution of the strategic business plan for the D&O and FI portfolio. Actively seek out new markets and opportunities for growth, providing recommendations for expansion where appropriate. In addition, take a leadership role in identifying new business pipelines and managing broker portfolios.
- Team Leadership & Development: Provide guidance, mentorship, and technical support to junior underwriters, assisting in their professional development. Act as a referral point for complex cases, offering support and advice to the underwriting team. Assist in the development of underwriting processes and best practices to improve team efficiency and consistency.
- Compliance & Risk Management: Ensure all underwriting activities are conducted in compliance with FCA regulations and other relevant legislation. Maintain accurate and up-to-date underwriting documentation and ensure adherence to internal risk management practices.
Underwriter - Financial Institutions employer: HFG Insurance Recruitment
Contact Detail:
HFG Insurance Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter - Financial Institutions
✨Tip Number 1
Network with professionals in the financial institutions and D&O underwriting space. Attend industry events, webinars, or local meetups to connect with potential colleagues and brokers who can provide insights into the company culture and expectations.
✨Tip Number 2
Stay updated on current market trends and regulatory changes affecting the SME and mid-market segments. This knowledge will not only help you in interviews but also demonstrate your commitment to the role and the industry.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed underwriting portfolios and broker relationships in the past. Highlight your achievements in driving new business and maintaining profitability to showcase your value to the team.
✨Tip Number 4
Familiarise yourself with the company's strategic goals and recent developments. Tailor your conversations during interviews to align your experience and skills with their objectives, showing that you're not just a fit for the role but also for the company's future.
We think you need these skills to ace Underwriter - Financial Institutions
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in underwriting, particularly in Financial Institutions and Directors & Officers (D&O) insurance. Use specific examples to demonstrate your skills in risk assessment and business development.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the SME and mid-market segments. Mention your ability to drive new business and maintain broker relationships, aligning your experience with the key responsibilities outlined in the job description.
Highlight Compliance Knowledge: Emphasise your familiarity with FCA regulations and industry best practices in your application. This will show that you are not only capable of underwriting but also understand the compliance aspects crucial for this role.
Showcase Leadership Skills: If you have experience mentoring junior underwriters or leading teams, make sure to include this in your application. Highlight how you can contribute to team development and improve underwriting processes.
How to prepare for a job interview at HFG Insurance Recruitment
✨Showcase Your Underwriting Expertise
Be prepared to discuss your experience in underwriting D&O and FI accounts. Highlight specific examples where you've successfully assessed risks and made underwriting decisions that align with company strategies.
✨Demonstrate Business Development Skills
Talk about your approach to driving new business and maintaining broker relationships. Share any successful strategies you've implemented to meet Gross Written Premium targets, as this will show your potential value to the team.
✨Emphasise Relationship Management
Prepare to discuss how you build and maintain effective relationships with brokers, insurers, and clients. Mention any past experiences where your relationship management skills led to successful outcomes or new opportunities.
✨Stay Informed About Market Trends
Research current market conditions in the SME and mid-market segments for D&O and FI lines. Being knowledgeable about industry trends will demonstrate your commitment to the role and your ability to contribute strategically.
