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Green Solutions Underwriter

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 13004 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Claims & Underwriting
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About us

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.  

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.

Green Solutions Underwriter

The key role of the Underwriter is to underwrite for the Renewable Energy Account within the underwriting limits as set out in the underwriting authority sheet and ensure timely account servicing to Brokers and Clients with a primary focus on onshore Solar / Wind / Bess.

Provide 1st level monitoring and oversight for administrative process aspects of the account, at all times demonstrating care for customers and respect for the regulatory obligations and reputation of the Syndicate.

Responsibilities:

  • Assess, price, negotiate and underwrite for the Renewable Energy Account. Exercising judgement in all underwriting and remaining aware of own underwriting limits as set out in the Underwriting Authority sheet, all in accordance with the Syndicate Business Plan.
  • Conduct and develop effective business relationships with brokers and clients with a view to both securing new business and retaining appropriate renewal business.
  • Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals. To refer/liaise (when appropriate) to CUO and relevant internal department.
  • Assist in the monitoring and development of underwriting tools and procedures etc
  • Provide support to junior members of the team and monitor their quality of work
  • To provide 1st level oversight and support to the administrative function of the Renewable Energy Account as follows:
  • S2000 / EDOC data Entry Process (ensure timeliness and accuracy of data entered by UAs and refine process as required)
  • Credit Control Process ( to coordinate with credit control and follow up with broker)
  • CAT monitoring ( ensure timeliness and accuracy of data entered by UAs)
  • Benchmark Rating Adequacy Process ( ensure timeliness and accuracy of data entered by UAs)
  • Monitor exception reports and take relevant action plans to escalate to seniors and rectify with relevant underwriter / UAs
  • Be aware of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
  • Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk
  • To ensure Renewable Energy Account conforms with the principles of Contract Certainty

Knowledge and Skills

  • Intermediate knowledge and understanding of:
    • Underwriting Principles;
    • Legal Principles;
    • FCA and Lloyd’s rules and regulations including contract certainty issues;
    • All company specific procedures that relate to own role
  • Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm;
  • Develop and maintain market and risk awareness and willingness to continue to develop knowledge of products, underwriting and related issues through formal and informal learning, both internally and externally.

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!

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!

#BePresent #BeBold #BeCurious

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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