At a Glance
- Tasks: Lead business development and forge new partnerships in the MGA market.
- Company: Fast-growing (re)insurer with ambitious growth targets.
- Benefits: Influence strategy, build long-term partnerships, and enjoy a dynamic work environment.
- Other info: Commitment to diversity, equity, and inclusion in the workplace.
- Why this job: Join a pivotal role in shaping the future of the UK insurance market.
- Qualifications: Experience in underwriting or analytics, strong business development skills.
The predicted salary is between 59400 - 72600 £ per year.
Our client is a fast-growing, MGA-focused (re)insurer operating across commercial and specialty lines in the UK market. Backed by ambitious shareholder growth targets, the business is looking for an entrepreneurial New Business Manager to lead its business development function - identifying, negotiating and winning new MGA partnerships. This is a high-profile, strategically important role. Working closely with the existing MGA business development leader, you will act as a trusted advisor across the business and play a pivotal part in shaping the company's growth trajectory in the UK (re)insurance market.
The Role
- Lead direct engagement with prospective MGA partners, meeting and exceeding annual new business and revenue targets.
- Challenge and assess financials using a blend of qualitative and quantitative analysis, ensuring growth opportunities sit within the company's risk appetite.
- Conduct market research to identify addressable opportunities and MGAs that align with the company's strategic objectives.
- Win the qualification and commercial stages of each opportunity - negotiating terms and acting as advocate through technical review and Board approval.
- Support account management processes, including MGA research and analytics, business plan collation and meeting documentation.
- Liaise with brokers on both inwards (MGA placement) and outwards (reinsurance placement) transactions.
- Maintain and develop the CRM system and reporting to provide clear visibility of the new business pipeline.
- Shape branding and communications strategy with brokers, MGAs, trade bodies and industry associations.
- Represent the business at industry events and panels, and contribute to thought leadership.
- Collaborate closely with the underwriting team to support smooth operational delivery and help resolve key business issues.
About You
- Recent experience in underwriting or an analytical capacity, ideally within the UK/London (re)insurance market.
- A demonstrable track record in business development and sales across multiple disciplines, geographies and classes of business.
- Deep knowledge of the MGA market and strong underwriting acumen.
- Understanding of hybrid fronting and reinsurance structures, and capital-driven / reinsurance-backed environments.
- The gravitas to build relationships with, and negotiate significant partnerships alongside, senior and influential market figures.
- Excellent written and verbal communication skills, with confidence in public speaking.
- A positive, professional and proactive approach, with a genuine appetite to learn and take on new challenges.
- CII qualification and/or wider insurance or financial services experience is desirable.
Why Apply
This is a rare opportunity to join a growing (re)insurance business at a pivotal stage of its journey, with genuine influence over strategy and the chance to build long-term, profitable MGA partnerships across the UK commercial and specialty insurance market.
Our Diversity, Equity and Inclusion Mission
At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.
New Business Manager - MGA in London employer: Idex Consulting
Join a prestigious law firm in London that offers a dynamic and collaborative work environment, where your contributions to high-profile equity capital markets deals will be valued. With a strong commitment to employee development, you will have access to ongoing training and mentorship opportunities, ensuring your professional growth in a fast-paced global setting. The firm's culture promotes teamwork and innovation, making it an excellent place for ambitious solicitors looking to make a meaningful impact in their careers.
StudySmarter Expert Advice🤫
We think this is how you could land New Business Manager - MGA 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.
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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 Idex Consulting. 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 New Business Manager - MGA 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 Idex Consulting.
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 Idex Consulting'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 Idex Consulting
✨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 Idex Consulting.
✨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 Idex Consulting 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 Idex Consulting 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.
