Company
Great Lakes Insurance SE
Location
London, United Kingdom
Together, we engage with everything we have and are, to help humankind act braver and better.
Based on our deep industry expertise, we can provide complex and efficient coverage solutions for single risk business globally. By single risk, we mean all types of individual risks – primary insurance (direct) for large corporates and facultative reinsurance for both commercial/SME and industrial business supporting our cedants.
Munich Re Great Lakes F&C offers direct insurance to large corporate clients and facultative reinsurance to our cedants across the globe. Our 550+ experts provide the full single-risk expertise of Munich Re to our partners everywhere. Acting as one team across 20 countries, we ensure our cedants and corporate clients enjoy the best solutions and services across all lines of business. We are proud that leading cedants and the world's largest companies choose Munich Re Great Lakes F&C as their partner.
It is an exciting time to join our growing and evolving organisation, help us shape the future of direct insurance service provision!
About the role:
The London Property business unit of Munich Re F&C (Facultative & Corporate) provides custom insurance and reinsurance solutions to the global Property industries on a proportional and non-proportional basis. The team is a recognised market leader in this class of business, and we are looking for an Underwriter for a position based in London.
The job involves daily broker contact, direct contact with clients, and internal liaison with other units within Munich Re. You will report to a Senior Underwriter. This is a hybrid working position with the office based in London.
Job Purpose:
To analyse and assess risk to calculate required premiums in order to underwrite a balanced and profitable portfolio of business.
Key Responsibilities:
1. To acquire, assess, quote and underwrite facultative reinsurance and direct insurance offers on the London market through brokers, predominantly by using the relevant MR quotation and local monitoring tools.
2. To provide tailor-made solutions and ensure a profitable portfolio.
3. To check contract wordings and conditions according to MR underwriting guidelines.
4. To cultivate relationships with London brokers for business development purposes and exploit new business potential through these sources.
5. To participate in London working groups (e.g. IUA) and MR topic networks.
6. To contribute (e.g. through lectures) to market events.
7. To conduct market and portfolio analyses, and prepare reports.
8. To deputise for the Underwriting Manager when required.
General Duties and Tasks:
1. Ensure client satisfaction by advising and assisting on insurance and risk matters.
2. Interact with other departments in the Branch and Home Office.
3. Provide technical input to market working groups as required.
4. Ensure proper administration of accounts, use and update of systems as required to lower the administration costs.
5. Share knowledge within the Underwriting department to ensure dissemination of best practice.
6. Assist in the production of the annual business development plans.
7. Support and enhance the image of MR.
Key Skills and Experience:
1. Several years of practical professional experience.
2. In-depth knowledge and experience, preferably in a broker-driven market; London market experience would be a bonus.
3. Advanced knowledge of MR underwriting processes and systems.
4. Negotiation and relationship skills.
5. Leadership and teamwork skills and willingness to share knowledge.
Qualifications and Educational Requirements:
ACII qualified (or at least have made significant progress towards this qualification) and/or alternative relevant professional qualification.
You will be rewarded with a great compensation package, on-target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%.
We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.
About us
You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning.
You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders.
We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn.
You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions.
We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures, and experiences are valued and encouraged.
At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind 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; 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.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
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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