Assistant Underwriter, Green Solutions

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.

Assistant Underwriter, Green Solutions

We are currently looking for an Assistant Underwriter, Green Solutions to work with us on a full-time basis in our London office, reporting into the CUO- Green Solutions.

You will ensure 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.  To provide accurate and high quality administrative services to the Green Solutions underwriting team, demonstrating care for customers and respect for the regulatory obligations of the Syndicate.

Responsibilities:

Support underwriters as required in:

• To assist delivering the agreed business plan
• Underwrite and service Green Solutions 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;
• Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
• Provide Analytical Support as follows:

1. S2000 – risk entry, report production using MS Excel; Use of S2000 and Qlikview  reporting.
2. Supervise and assist Underwriting Assistants in monitoring of income flows (late premiums/adjustments etc);
3. Tracking and monitoring of all risk bordereaux from all coverholders and facilities. 
4. Ensure all administrative processes are undertaken smoothly from Underwriting Delivery Team as per SLA

• Complete tasks as following:

1. Benchmark pricing and rate monitoring for all accounts.
2. Use of RIskmapper and RMS for CAT Modelling
3. Assist Debt Management team on recovering debts
4. Completion of Technical Review sheet as per guidelines
5. Provide management reports, exposure data and other data as and when required.

• Monitor recording of risk entry and amend where appropriate;
• Review daily claims report;
• Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Account;
• Make written records of all material conversations with customers, both internal and external, in accordance with the firm’s procedures manual.
• Assist Underwriting Assistants as may be required in order to support the business.
• Any other ad-hoc tasks as necessary

Knowledge and Skills

• Knowledge and understanding of:

1. Underlying Principles of Insurance;
2. Legal Principles;
3. FCA and rules and regulations, including contract certainty issues;
4. Lloyd’s regulations;
5. Green Solutions Insurance as traded in the Lloyd’s market

• Demonstrate clear understanding of all company specific procedures that relate to own role;
• Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
• Develop and maintain market awareness.
• 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.

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