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Underwriter Level 2 (P&C)

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 12245 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.

Underwriter Level 2 (P&C)

We are currently looking for an Underwriter (level 2) to work with us on a full-time basis in either our London OR Manchester office, reporting into the P&C Underwriting Manager.

This role contributes to the underwriting team’s delivery of profitable growth and the maintenance of a high-quality portfolio across P&C products (combined, mono-line and schemes).

Responsibilities:

Underwriting

  • Underwrite new and renewal business for allocated intermediaries and customers in line with underwriting guidelines, risk appetite and delegated authority.
  • Manage end-to-end underwriting of cases for the allocated portfolio, delivering agreed business development plans in line with the Company’s trading strategy.
  • Carry out underwriting activities for the UK regional business, working closely with senior underwriters and key internal and external stakeholders.
  • Make timely and effective underwriting decisions within delegated authority, referring more complex risks where appropriate
  • Support the underwriting of more complex or multinational accounts, contributing to tailored solutions and risk-appropriate decisions.
  • Plan and manage own workload effectively to support delivery of customer service standards and credit control targets.
  • Contribute to the development and ongoing management of a profitable, balanced and sustainable portfolio in support of the Company’s long-term objectives.
  • Continue to develop technical underwriting knowledge and skills through training, mentoring and practical underwriting experience
  • Undertake other duties appropriate to the level of the role.

Strategic Contribution

  • Identify and develop business opportunities within the allocated portfolio, working with colleagues where appropriate to ensure business is handled efficiently and effectively.
  • Work collaboratively with other lines of business to support cross-selling and account development initiatives.
  • Support the maintenance of a balanced and high-quality portfolio through effective use of underwriting information and data.
  • Contribute to the development and promotion of Munich Re P&C products.

Technical expertise

  • Maintain and develop technical underwriting knowledge across relevant lines of business.
  • Deliver technical input and presentations where required, appropriate to the level of the role.
  • Ensure underwriting standards and guidelines are consistently applied across the portfolio.
  • Help drive forward good Conduct for the business to deliver the best outcomes for customers
  • / policyholders.
  • 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.

Intermediary and Customer management

  • Develop and maintain effective working relationships with allocated intermediaries and customers, balancing their needs with the Company’s trading objectives.
  • Represent Munich Re Global Markets UK in meetings with intermediaries and internal group stakeholders, as appropriate to the level of the role.
  • Work with internal teams (including Strategic Relationship Managers) to both identify and develop new business opportunities and build relationships with selected intermediaries and clients and develop and enhance broker relationships.
  • Act as a reference point on all issues for the allocated intermediary/customer or less experienced staff, so that a high level of customer service is delivered.

Knowledge and Skills

  • High level of underwriting knowledge.
  • Experience in Real Estate is advantageous.
  • Understanding of technical underwriting, philosophy and Company trading strategy.
  • Ability to interpret and effectively use management information.
  • Excellent communication skills.
  • Knowledge of the local market.
  • Internal relationships with Line of Business Managers, team members, Underwriters, the Claims Department and the Syndicate.
  • External relationships with a range of contacts within the allocated intermediaries and customers.

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!

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

#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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