Senior Liability Underwriter (Marine, Energy & Marine Property)

Munich Re
Senior Liability Underwriter (Marine, Energy & Marine Property)

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Senior Liability Underwriter (Marine, Energy & Marine Property)

We are looking to employ a Senior Liability Underwriter to cover Marine, Energy & Marine Property classes of business, be based in London and to work with us on a full time basis.

If you’d like to work within a results driven, high performing and collaborative team atmosphere where you can make difference, we’d love to hear from you.

The Role

• Underwrite liability risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan;
• Conduct and develop effective relationships within Lloyd’s, both with peers and with Brokers, with a view to securing new business that falls within the Munich Re Syndicate Ltd portfolio, specifically liability risks.
• Monitor recording of all aggregate and reporting information as follows:

Aggregates:

• Monitor on weekly basis, or as instructed;
• Review and forward to Al Nappin on a quarterly basis.

RDS:

• Undertake quarterly collation of RDS aggregates from all classes of liability business;
• Apply aggregates to reinsurance program for Board review;
• Maintain full audit trail for all the above in line with Firm’s procedures manual.
• Provide Analytical Support as follows:
• S2000 – risk entry report production using MS Excel; Use of S2000 Adhoc reporting feature.
• Supervise the underwriting assistant in monitoring of income flows (late premiums/adjustments etc);
• Provide management reports as and when required.
• Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority.
• Make written records of all conversations with customers, both internal and external, in accordance with the firm’s procedures manual.
• Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
• Review and administer existing contracts and make amendments in line with the firm’s underwriting philosophy;
• Monitor recording of risk entry and amend where appropriate;
• Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Liability Account;
• Review daily claims report;
• Be aware of and take ownership 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. In this context risk is the potential for loss or failure to meet business objectives as a consequence of internal or external events.
• 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.
• You are required to comply with the PRA and FCA Conduct rules.

What we are looking for

The prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.

Key Skills & Experience

• Advanced (Level 3) knowledge and understanding of:
• Underwriting Principles;
• Legal Principles;
• PRA 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;
• Liability cover
• Intermediate (Level 2) knowledge and understanding of:
• Energy
• Liability
• Marine Property
• Excess of Loss
• War and political risks
• Hull
• 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.

Qualifications

University Degree and/or relevant professional qualification

Your career with us

At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.