We are currently looking for a Senior Underwriter, Delegated Property to be based in London on a full-time basis, reporting into the Group Head of Delegated Property.
Responsibilities
- Underwrite new and renewal Property binders within delegated authority limits, aligned with the Underwriting business plan, referring to the Group Head of Delegated Property as needed;
- Manage property binders effectively, overseeing performance, EPI monitoring, referrals, bordereaux, rate movements, claims trends, reviews, underwriter visits, audits, and risk management surveys;
- Service and amend existing binder contracts per syndicate underwriting philosophy, ensuring compliance, proper risk entry, and KYC through systems like S2000;
- Develop and maintain strong relationships with Coverholders, Brokers, Lloyd's, and wider market peers to enhance trading relationships, secure new business, and stay informed of market developments;
- Regularly review slips, endorsements, risk placements, account performance, premium income vs. EPI, and country/region aggregates to ensure alignment with the Underwriting business plan and agreed limits;
- Prepare and review reinsurer information, provide data/reports for meetings and business plans, monitor renewals, chase outstanding business, and support internal and external meeting activities including deputizing and chairing;
- Assist the Group Head of Delegated Property with supervision of Underwriters, contribute to strategic initiatives across teams and Munich Re entities, and provide underwriting support on other classes as needed;
- Ensure adherence to company procedures, compliance manuals, and conduct risk frameworks; understand escalation lines and report significant risk changes promptly to line management;
- Support the drive for good business conduct to deliver optimal customer outcomes and respond to Peer Review Group queries related to the property account;
- Perform any other ad-hoc tasks as directed by the Group Head of Delegated Property to support overall business objectives and governance.
Knowledge and Skills
- UK commercial property market, including SME commercial combined/package and property owners business, competitors, brokers, third-party service companies, claims TPAs, and Adjusters;
- FCA/PRA and Lloyd's rules and regulations, including conduct risk and contract certainty issues;
- Lloyd's insurance market;
- Underwriting principles.
Knowledge and understanding of
- UK commercial liability associated with commercial combined/package business;
- Overseas property business;
- Potential risks facing the business within own role and controls in place to mitigate them;
- Roles of colleagues and their relationships to the syndicate's structure and business plans;
- Willingness to continue developing knowledge of products, underwriting, and related issues through formal and informal learning, both internally and externally to the firm.
At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals., At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty - Global Markets our approach to sustainability is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our sustainability strategy aims to deliver holistic impacts across environmental, social and governance topics.
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Senior Underwriter, Delegated Property in Whitehall employer: Munich Re Group
At Munich Re, we pride ourselves on being an exceptional employer, offering a dynamic work environment in the heart of London that fosters innovation and collaboration. Our commitment to employee growth is evident through comprehensive training programs and a culture that values diversity and inclusion, ensuring that every team member can thrive and contribute meaningfully. With competitive benefits, including generous family leave and a strong pension plan, we empower our employees to act bravely and better, both personally and professionally.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Underwriter, Delegated Property in Whitehall
✨Get Involved in Local Property Events
Dive into local property expos and networking events! Real estate thrives on connections, so attending these events helps us meet potential employers and industry leaders, plus it's a chance to show off your enthusiasm for the field.
✨Connect with Local Agents on Social Media
Follow and engage with local real estate agents and firms on platforms like Instagram and LinkedIn. Sharing their posts and commenting with your insights can put you on their radar and might even lead to job opportunities at companies like Munich Re Group.
✨Don’t Underestimate the Power of Cold Outreach
Got your eye on a specific company like Munich Re Group? Don't hesitate to send a direct message or an email expressing your interest. Personalise your approach, maybe mentioning a recent listing or project of theirs, and it could set you apart from other candidates.
✨Utilise Property Management Platforms
Check out property management platforms and job boards tailored for the real estate sector. They often have exclusive listings, especially for full-time roles. Don't forget to visit Munich Re Group's careers page directly; we love seeing passionate candidates applying through our website!
Some tips for your application 🫡
Show Your Real-Estate Savvy:When crafting your CV and cover letter, make sure to highlight any relevant experience in the real estate sector. If you've done internships, assistant roles, or even relevant coursework, lay it out clearly. We want to see your familiarity with market trends, property management, or any sales experience you've got under your belt!
Quantify Your Achievements:In real estate, numbers speak volumes! When detailing your past roles, use concrete figures to demonstrate your achievements. For example, mention how many properties you sold, the percentage increase in client satisfaction, or any successful negotiations. These metrics can give your application that extra punch it needs!
Tailor Your Documents for the Job:Every application should feel personal. When applying for the Senior Underwriter, Delegated Property role at Munich Re Group, tweak your CV to focus on aspects that are important to them. If they value client relationships, emphasise your interpersonal skills. We want to see you aligning your experiences with what they're looking for!
Keep It Professional Yet Approachable:While we want you to show off your expertise, don't forget to let your personality shine through in your cover letter. A touch of friendliness can set you apart, especially in real estate where client interaction is key. Show that you're ready not just to work with the property but also with people!
How to prepare for a job interview at Munich Re Group
✨Know Your Market Trends
In real estate, it’s all about staying ahead of the curve. Make sure we brush up on the latest market trends in the area where Munich Re Group operates. Being able to discuss local property values, demand, and upcoming developments will show that we’re not just interested in the job, but genuinely invested in the industry.
✨Prepare for Scenario Questions
Expect some scenario-based questions during the interview. We might get asked how we’d handle different client situations or property evaluations. Preparing our responses for common real estate scenarios not only demonstrates our problem-solving skills but also shows that we can think on our feet in a client-facing role.
✨Showcase Your Connections
In full-time real estate, networking is key! Let’s think about our connections in the industry and what we can bring to Munich Re Group. Whether it’s insights on prospective clients or relationships with local contractors, talking about these experiences can set us apart from other candidates.
✨Demonstrate Technical Savvy
Familiarity with different real estate software tools is a big plus. We should be ready to discuss any platforms we've used, whether it's for property management, CRM, or data analysis. Being comfortable with technology not only makes us more efficient, but also shows that we’re adaptable to the tools used at Munich Re Group.
