At a Glance
- Tasks: Manage and underwrite US Property business while ensuring profitability and compliance.
- Company: Dynamic insurance firm with a strong reputation in the market.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Equal opportunity employer committed to inclusivity and career growth.
- Why this job: Join a leading team and make a real impact in the insurance industry.
- Qualifications: ACII or relevant degree, with advanced knowledge of US Commercial property.
The predicted salary is between 60000 - 80000 £ per year.
Delegated US Property Underwriter
Underwriter will manage the prudent underwriting of Delegated Property business in line with the business plan, ensuring maximum return of profit while maintaining the company’s reputation and integrity.
Responsibilities
- Underwrite new and renewal Property binders, exercising judgement and remaining within underwriting limits set by the Underwriting Authority sheet.
- Manage property binders’ performance, EPI monitoring, referrals, bordereaux, rate movement, claims trends, reviews, underwriter visits and audits.
- Service existing binder contracts and make amendments in line with the Syndicate’s underwriting philosophy.
- Enter risk information into S2000 and other systems, ensuring compliance and KYC requirements are met.
- Develop and maintain effective relationships with coverholders, brokers, and internal teams (claims, actuarial, binder management, underwriting management, exposure management, compliance, finance).
- Maintain relationships within Lloyd’s and the wider market, staying abreast of developments that may affect trading effectiveness.
- Review slips, endorsements, placing information, rate structures, underwriting guides and policy wordings to ensure alignment with the business plan.
- Monitor monthly written and signed premium income of the Property account.
- Monitor country aggregates to ensure acceptances are within agreed limits.
- Knowledge and Skills
- ACII.
- Relevant degree or equivalent experience.
- Advanced knowledge and understanding of
- US Commercial property business, including liability associated with commercial property.
- US Homeowners and High Value Home business.
- FCA / PRA and Lloyd’s rules and regulations including conduct risk and contract certainty issues.
- Lloyd’s insurance market.
- Underwriting Principles.
- Legal Principles.
- All company‑specific procedures that relate to your position.
- Basic knowledge and understanding of
- Potential risks facing the business within your role and the controls that are in place to mitigate them.
- A clear understanding of the roles of colleagues and their relationships to the structure and business plans of the syndicate.
- Willingness to continue to develop knowledge of products, underwriting and related issues through formal and informal learning, both internally and externally.
- Equal Opportunity Employer
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.
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Delegated US Property Underwriter in London employer: Munich Re
As a leading insurance provider in Greater London, we pride ourselves on fostering a dynamic work culture that values collaboration and innovation. Our employees benefit from comprehensive professional development opportunities, competitive remuneration, and a supportive environment that encourages growth and transformation. Join us to be part of a team that is dedicated to making a meaningful impact in the insurance industry while enjoying the vibrant lifestyle that Greater London has to offer.
