Commercial Marine Insurance Underwriter/account in London

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.

We are currently looking for a Senior Cargo Underwriter to be based in London on a full-time basis, reporting into the Cargo Underwriting Manager. You will support the Cargo Underwriting Manager in the effective management of the Cargo book within Global Specialty Insurance. You will ensure prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.

Responsibilities:

• Assist in the creation and delivery of the business plan for the Cargo team and be a driving force of the underwriting.
• Underwrite new and renewal Cargo risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan.
• Ensure the effective management of cargo business, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits.
• Service existing contracts and open market risks, and make amendments in line with the Syndicate’s underwriting philosophy.
• Conduct and develop effective relationships with peers, clients, coverholders and brokers, with a view to retaining quality business and securing new business that falls within the Munich Re Specialty Group appetite for Cargo.
• Establish and run projects and initiatives such as new sub-classes and products to serve clients and diversify the portfolio from both a risk and income perspective.
• Negotiate new wordings and structures, ensuring clients’ needs are serviced and regulatory requirements met, whilst preserving a prudent risk appetite, in line with the syndicate and team’s underwriting strategy.
• Develop and maintain market awareness and continually demonstrate thought leadership.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. 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; 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.

You can request an adjustment by speaking to your Talent Acquisition contact.

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.

Benefits:

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support