Product Recall Underwriter

Munich Re Specialty was formed as a stand‑alone division in 2023, bringing together the wider Munich Re Group’s primary specialty insurance business units.

Complementing an already strong presence in the UK and the US, Munich Re Specialty - Global Markets (MRSGM) is responsible for executing a broader strategy to expand its European footprint, with ongoing activities in the UK, Ireland, Germany and Spain.

Please see our website for more information.

Product Recall Underwriter

To support the establishment, development and profitable growth of our Product Recall and Kidnap & Ransom (Crisis Management) business, we are looking for an Underwriter Crisis Management (Product Recall / K&R), Germany to join our team.

The role is embedded in a Center of Excellence (Co E) framework and focuses on the independent underwriting and development of Crisis Management risks under established guidelines and governance structures.

The successful candidate will contribute to underwriting performance, portfolio quality and broker relationships across assigned markets, working closely with Senior Underwriters and the wider Co E team.

The role involves hands-on underwriting responsibility, exposure to international and cross-border business, and active participation in portfolio development and business growth initiatives.

Experience in either retail (non-wholesale) or wholesale business is expected; exposure to both is considered an advantage.

Knowledge of Lloyd’s of London underwriting practices is beneficial but not mandatory.

The position requires a commercially minded underwriter with strong technical skills, a collaborative mindset and the ambition to further develop within a specialist Co E-driven set-up.

Responsibilities

• Independently underwrite Crisis Management insurance risks, assessing exposures and determining appropriate coverage structures, terms and pricing within assigned underwriting authority.
• Review, analyse and evaluate Product Recall and Kidnap & Ransom risks, including complex commercial and industrial risks, in line with underwriting guidelines.
• Manage new business and renewals within the assigned portfolio and support the achievement of underwriting and profitability targets.
• Develop and maintain strong working relationships with brokers, clients and internal stakeholders to ensure effective underwriting service delivery.
• Support Senior Underwriters in the handling of more complex risks and contribute to technical discussions within the Co E.
• Monitor portfolio performance, loss development and exposure accumulations, and recommend adjustments to underwriting approach where required.
• Ensure full compliance with all regulatory requirements, internal controls and governance standards applicable to Crisis Management underwriting.
• Stay informed of market developments, industry trends and emerging risks relevant to Product Recall and K&R.
• Contribute to the continuous improvement of underwriting guidelines, wordings, pricing tools and processes, in cooperation with the Co E.
• Knowledge and Skills Required
• Minimum 5-7 years of professional experience in the insurance or risk-related environment, preferably within a primary insurer, reinsurer, broker, MGA or specialty underwriting unit, with hands-on experience in underwriting, portfolio management, underwriting support, claims, loss prevention or risk consulting.
• Solid experience in Product Recall, Crisis Management, Financial Lines or other Specialty Lines is preferred, including exposure to complex risks and interaction with brokers and clients.
• Bachelor’s degree in business administration, finance, law, insurance, economics or a related field, and/or a relevant professional qualification in insurance or risk management.
• Sound understanding of Crisis Management insurance products, underwriting principles, risk assessment and pricing methodologies.
• Proven experience underwriting specialty insurance risks, with increasing responsibility for portfolio and client management.
• Good organizational and time-management skills, with the ability to prioritise and manage multiple underwriting tasks efficiently.
• Solid analytical skills and attention to detail, enabling informed and consistent underwriting decisions.
• Strong interpersonal and communication skills, with the ability to work effectively with brokers, clients and internal teams.
• A commercial and solution-oriented mindset, balanced with disciplined risk assessment and adherence to guidelines.
• Very good written and verbal communication skills.
• Diversity, Equity & Inclusion

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 ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment.

Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re - choose your impact!

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