Underwriter, Terrorism & Political Violence

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, Terrorism & Political Violence

We are currently looking for an Underwriter, Terrorism & Political Violence to be based in London on a full-time basis, reporting into the Group Head of Terrorism and Political Violence.

In this role You will be responsible for the prudent underwriting of quality business in line with the business plan, ensuring maximum return of profit while maintaining the firm’s reputation and integrity. You will demonstrate care for customers and uphold the firm’s regulatory obligations at all times.

Responsibilities:

• Assist in delivering the agreed business plan by underwriting Terrorism and Political Violence risks, exercising judgement within own underwriting limits as per the Underwriting Authority sheet;
• Develop and maintain effective relationships within Lloyd’s, including peers and Brokers, to secure new business aligned with the Munich Re Syndicate Ltd Terrorism and Political Violence portfolio;
• Collaborate regularly with Service Company teams to ensure adherence to Munich Re Syndicate Group’s global product approach;
• Monitor and record aggregate data weekly or as instructed; review and forward quarterly aggregates and RDS data to Exposure Management, apply to reinsurance programs for Board review, and maintain complete audit trails according to firm procedures;
• Provide analytical support by producing S2000 risk entry reports, supervising underwriting assistant activities related to monitoring income flows, and preparing management reports as required;
• Review slips and supporting documents using own knowledge and experience, acting within authority limits; maintain thorough written records of all internal and external customer communications in line with the firm’s procedures manual;
• Ensure company procedures and systems are followed and maintained, including reviewing and administering contracts with amendments aligned to the firm’s underwriting philosophy; monitor and amend risk entries where appropriate;
• Facilitate Peer Review Group access to relevant information and respond to their queries on the Terrorism and Political Violence account; review daily claims reports;
• Take ownership of potential risks within the job role, understand the controls in place to mitigate them, and report significant changes in risks or control effectiveness promptly to the line manager;
• Promote good conduct throughout the business to deliver optimal outcomes for customers and policyholders; understand escalation protocols and the roles of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo, and Board regarding conduct risk.

Knowledge and Skills

• Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm;
• Develop and maintain market awareness.

Intermediate (Level 3) 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 and role of those employees that you are supervising;
• Terrorism and Political Violence risks.

Intermediate (Level 2) knowledge and understanding of:

• Other syndicate lines of business.

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!

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