About us
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinnedby an effective and adaptablestrategy,superior products and industry leaders working in a supportive environmentto 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.
Please see our website for more information.
Political Risk & Credit Underwriter
The 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 delivery of the business plan for the Political Risk & Credit team and be accountable for ensuring targeted income levels are met throughout the year and growth targets are met year-on-year.
Underwrite Political Risk & Credit 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;
Conduct and develop effective relationships with peers, clients and brokers, with a view to retaining quality business and securing new business that falls within the Munich Re Specialty Group appetite for Political Risks & Credit.
Oversee the development and training (technical and non-technical) of junior members of the team, driving their progress and knowledge, including shadowing their work on new tasks and increased underwriting responsibilities.
Work collaboratively and engage regularly with the teams in the Service Companies to ensure adherence to the global product approach of MRSG
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.
Conduct book review as well as regular monitoring and portfolio management to ensure the business plan is being executed.
Monitor recording of all aggregate and reporting information as follows:
Aggregates:
Monitor on weekly basis, or as instructed;
Review and forward exposure bordereau to Exposure Management as instructed.
Provide Analytical Support as follows:
S2000 – risk entry report production using MS Excel; Use of S2000 Adhoc reporting feature.
Work closely with the Credit Control team
Provide management reports as and when required.
Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority at all times.
Make written records of conversations with customers, both internal and external, in accordance with MRSG’s procedures manual.
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.
Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
Ensure that all contract certainty issues are addressed for all relevant risks;
Review and administer existing contracts and make amendments in line with MRSG’s underwriting philosophy;
Monitor recording of risk entry and amend where appropriate;
Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Political Risk & Credit
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinnedby an effective and adaptablestrategy,superior products and industry leaders working in a supportive environmentto 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.
Please see our website for more information.
Political Risk & Credit Underwriter
The 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 delivery of the business plan for the Political Risk & Credit team and be accountable for ensuring targeted income levels are met throughout the year and growth targets are met year-on-year.
Underwrite Political Risk & Credit 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;
Conduct and develop effective relationships with peers, clients and brokers, with a view to retaining quality business and securing new business that falls within the Munich Re Specialty Group appetite for Political Risks & Credit.
Oversee the development and training (technical and non-technical) of junior members of the team, driving their progress and knowledge, including shadowing their work on new tasks and increased underwriting responsibilities.
Work collaboratively and engage regularly with the teams in the Service Companies to ensure adherence to the global product approach of MRSG
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.
Conduct book review as well as regular monitoring and portfolio management to ensure the business plan is being executed.
Monitor recording of all aggregate and reporting information as follows:
Aggregates:
Monitor on weekly basis, or as instructed;
Review and forward exposure bordereau to Exposure Management as instructed.
Provide Analytical Support as follows:
S2000 – risk entry report production using MS Excel; Use of S2000 Adhoc reporting feature.
Work closely with the Credit Control team
Provide management reports as and when required.
Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority at all times.
Make written records of conversations with customers, both internal and external, in accordance with MRSG’s procedures manual.
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.
Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
Ensure that all contract certainty issues are addressed for all relevant risks;
Review and administer existing contracts and make amendments in line with MRSG’s underwriting philosophy;
Monitor recording of risk entry and amend where appropriate;
Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Political Risk & Credit
