At a Glance
- Tasks: Evaluate insurance risks and drive profitable growth for global energy clients.
- Company: Leading energy insurance firm with a dynamic London office.
- Benefits: Competitive salary, discretionary bonus, hybrid working, and professional development opportunities.
- Other info: Collaborative environment with opportunities to mentor junior underwriters.
- Why this job: Join a market leader and shape the future of energy underwriting.
- Qualifications: Experience in energy insurance and strong analytical skills required.
The predicted salary is between 60750 - 74250 £ per year.
Salary
Competitive base salary + discretionary bonus + benefits (dependent on experience)
Location
- London (hybrid working)
- PURPOSE OF THE ROLE
Our client's market-leading Energy division is looking for a skilled and experienced Upstream Energy Underwriter to take on an underwriting role within their London Natural Resources Team.
As Underwriter, you will play a crucial role in driving profitable growth through risk selection of new and renewal business, for a broad portfolio of global energy clients in the Upstream and Midstream sectors, from the London office.
The Upstream Energy portfolio forms part of the wider Natural Resources Team, with exposure to all areas of the energy value chain.
KEY RESPONSIBILITIES
- Evaluate insurance risks in accordance with the Business Plan and personal authority to meet business objectives effectively.
- Foster and sustain robust connections with stakeholders, including clients, brokers and team members, to enhance influence and support business initiatives.
- Establish strategic partnerships aligned with the Business Plan to facilitate the attainment of organisational goals.
- Adhere to the insurance strategy to minimise risk and achieve targets outlined in the business plan.
- Actively engage in shaping and refining strategies, knowledge and best practice within the team.
- Advocate positively for the department, division and company brand to effectively leverage brand recognition.
- Ensure compliance with all legal and regulatory standards to fulfil organisational obligations.
- Uphold underwriting guidelines, instructions and best practice to reduce risk and improve operational efficiency.
- Remain knowledgeable about market dynamics and demonstrate awareness of market cycles to operate effectively.
- Encourage and develop team members.
- Assist with the advancement of AI tools in process modules to increase efficiencies in the day-to-day capture of underwriting data.
- DAY TO DAY
- Review, quote and negotiate terms on new and renewal submissions from brokers.
- Liaise directly with brokers and clients on risk information, terms, pricing and coverage queries.
- Provide referral and technical support to less experienced underwriters.
- Attend broker and client meetings to discuss renewal strategy and new opportunities.
- Work closely with claims and exposure management colleagues on large or complex losses and aggregate positions.
- Maintain accurate underwriting files, records and bordereaux across relevant systems.
- Monitor treaty utilisation, aggregates and portfolio performance against plan.
- Contribute to business planning and renewal strategy discussions.
EXPERIENCE
- Proven experience in the Energy and London insurance market, with a good understanding of market dynamics.
- Ability to develop business opportunities.
- Track record of contributing to the long-term success of the business through business planning, organisation and development.
- Proficient in managing single risk aggregate exposures, as well as understanding the joint venture principle in maintaining combined offshore platform aggregates.
- Experience supporting or mentoring junior underwriters is desirable.
SKILLS
- Confident and effective communicator, able to collaborate with colleagues and external stakeholders.
- Strong working knowledge of MS Office (Word / Excel / Power Point / Power BI).
- Excellent analytical and negotiation skills.
- Ability to navigate SQL Impact or an equivalent aggregation tool is preferable.
- Good understanding of exposure/catastrophe modelling outputs and reinsurance structures.
- Commercially minded, with a clear grasp of portfolio and P&L performance.
- Sound judgement on risk selection and referrals.
EDUCATION / QUALIFICATIONS
- ACII qualified or working towards, desirable.
- Degree educated or equivalent relevant industry experience.
- Strong working knowledge of the Lloyd's market and regulatory environment.
- Commitment to ongoing professional development within the insurance market.
- #J-18808-Ljbffr
Upstream Energy Underwriter employer: Lawes Consulting Group
At Lawes Consulting Group, we pride ourselves on being an excellent employer that values and nurtures talent within a supportive and collaborative environment. As a Property Loss Adjuster based in Glasgow, you will benefit from a strong focus on employee development, a diverse portfolio of claims to manage, and the opportunity to work closely with industry professionals, all while enjoying the vibrant culture of Scotland's largest city.
