Title:  Senior Engineering Underwriter

Together, we engage with everything we have and are, to help humankind act braver and better.

About Facultive & 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:

The role of the Senior Underwriter is to lead and work as part of a highly functioning team and who’s focus is on producing consistently good results whilst ensuring high levels of underwriting standards and training for colleagues. They will organise themselves and the team so to cultivate and manage new and existing business within the various engineering / construction occupancies throughout the world. There will be a focus on attaining the best possible solutions in line with the group strategy whilst actively assisting in the management, steering and supervision of the book of business. The individual will have a responsibility for guidance and development of the team members.

Key responsabilities: 

• To underwrite corporate and facultative construction business mainly through London brokers. Project occupancies will vary from heavy industry, Energy, Civil engineering to renewables construction (EAR, CAR and Operational Power) whilst following the internal procedures and guidelines.

• To cultivate relationships with London brokers and create new business potential through these sources.

• To provide tailor made solutions to client that work for all parties involved.

• To participate in London working groups (e.g. LEG) and MRe internal topic networks.

• To lead by example and develop colleagues within the group.

• To represent Munich Re at client meeting, international conferences and head office events.

• To take on responsibility for managing various aspects of the engineering book. 

• To drive forward the values of team work and collaboration within the team and wider group.

• To deputise for the Underwriting Manager as and when required. 

Competencies: 

Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.

Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.

Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.

Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments.

Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.

Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment. 

Key Skills & Experience: 

• Have an in-depth knowledge of engineering insurance and engineering technologies.

• Have a high level of underwriting experience, preferably in a broker driven market.

• Ability to maintain relationships through clear communication, negotiation, and stakeholder management.

• High level of self-motivation and accountability. Ability to work under pressure.

• Strategic mindset that promotes improvement and efficiencies within the engineering book and department.

• Ability to diligently manage there’s and others workload administration.

• IT application knowledge. (Excell, Office etc)

Desired Qualifications and Eductional Background 

Desirable but not critical 

• Degree level qualification (Engineering preferable but not vital)

• Experience in the engineering industry.

• ACII qualified (or at least have made significant progress towards this qualification) and/or alternative relevant professional qualification.

• Second Language 

Thought Leaders:  

You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re.

You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.

You will demonstrate and role model 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 Senior Underwriting role/function will also become responsible for:

• Ensure compliance with Insurance Distribution Directive

• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules 

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. 

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! 

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.