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Deputy Underwriter

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 13687 Company Munich Re Employment type Regular Area of expertise Claims & Underwriting
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Together, we engage with everything we have and are, to help humankind act braver and better.

About Facultative & Corporate:

Munich Re’s large, international network of experts places us in a strong position to develop solutions for highly complex risks. The sectors we serve and the solutions we offer are diverse, but they all share one thing in common: the substantial financial foundation of Munich Re. The industrial insurance arm of Munich Re Group, which means our clients are multinational corporations. We write both traditional and non-traditional insurances through 6 lines of business; namely, Property, Energy, Casualty, Engineering, Cyber and what we term Special Enterprise Risks. We overlay these underwriting activities with support from our Client Management and Claims & Operations units.

Our clients are complex, diverse, and domiciled across the world. Therefore, we also need to be global, and we do this by positioning staff in strategic markets and locations as well as travelling to meet clients. Close contacts are very important.

About the role:

Provide underwriting support services, data input, data cleaning and other back-office tasks for Great Lakes whilst contributing to the underwriting review and pricing analytical process to support underwriting decisions. Contribute to the servicing of the overall account.

Key Responsibilities:

  • Data input on (FAB / EBF) the branch’s main systems for clearing, rating and capturing insurance, reinsurance policy information.
  • Take lead role in working with RIA and other underwriting support functions.
  • Assist in planning broker, internal meeting.
  • Accumulation monitoring - when Munich Re issues policies, several policy limits can accumulate in various risk scenarios. This accumulation needs to be tracked.
  • Assist in setting up reviews of submissions and identifying opportunities in line with the units underwriting strategy.
  • Contribute to the success of business production and converting opportunities into new business
  • Communicate internally and externally to promote business and ideas and concepts
  • You will work towards professional qualifications.

Competencies:

Business Acumen (we think big) - You understand the business’ ambition, your team’s

commitments and how your role contributes to this.

Plans and aligns (we lead the ‘we’) - You plan and prioritise your work to fit with deadlines and longer-term commitments for you and your team and collaborate with others, encouraging diversity of thought.

Action oriented (we grow with our clients) - You take on new tasks, opportunities and challenges with a keen interest. You have an appetite to learn and embrace new ways of working in order to improve efficiencies and effectiveness.

Self-development (we care and dare) - You demonstrate enthusiasm by seeking new ways to grow and be challenged, through both formal and informal development opportunities.

Communicating Effectively (we are clear and authentic) - You openly listen to the ideas of others, seek regular feedback to develop, consider the best method for communicating and ask for support and advice when unsure.

Key Skills & Experience:

  • Analytical skills
  • Microsoft Excel – advanced level
  • Microsoft PowerPoint and Word – proficient level
  • Self-motivated
  • Ability to prioritise workload and organise others

Qualifications and Educational Requirements:

  • Degree level education and or ACII Qualified or progressing towards and or with several year market experience.

Thought Leaders:

You will demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the role will also become responsible for:

  • Understanding the responsibilities and adhering to the requirements of undertaking a regulated role under the Senior Manager and Certification Regime
  • Ensure compliance with Insurance Distribution Directive
  • Satisfying all regulatory reporting requirements in collaboration with the reporting function
  • Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
  • Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits

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%

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

Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.

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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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