Underwriter

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

Job Purpose

The Energy business unit within Munich Re F&C (Facultative & Corporate) provides bespoke insurance solutions to the global Downstream Energy, Mining and Power industries. The team is a recognised market leader across these classes in both the London and international Energy insurance markets.

The Downstream Energy Corporate team is seeking an Underwriter for a London-based role. This is a front-line position involving daily engagement with brokers and clients, alongside close collaboration with colleagues across Munich Re.

Key Responsibilities

• Underwrite new and renewal Global Downstream Energy Oil & Gas business in line with agreed strategy and within delegated underwriting authority.
• Assess risks, including pricing, wording analysis, accumulation management, and acceptance of large and complex energy risks.
• Lead and support negotiations with brokers and clients.
• Represent Munich Re as a key market participant and thought leader within the Downstream Energy insurance market.
• Collaborate closely with other Munich Re business units to deliver integrated solutions.
• Develop, maintain and grow strong relationships with clients and brokers.
• Contribute to portfolio development through the proactive acquisition of profitable new business.
• Support portfolio analysis and the preparation of statistics and management reporting.
• Contribute to a collaborative and inclusive team environment that supports the Downstream Energy community in achieving its short-, medium- and long-term objectives.

General Duties and Tasks

• Work with Energy Management to support the development and delivery of business strategy.
• Build strong relationships across Munich Re entities to enhance collaboration and support portfolio development across the Group.
• Share best practice, insights and expertise within the Energy team and the wider Munich Re community.
• Stay informed of legal, regulatory and market developments relevant to the lines of business.
• Represent the Energy team at internal and external meetings, committees and industry events, including client engagements and presentations where appropriate.
• Participate in risk inspections and underwriting reviews.

Key Skills and Experience

Essential

• Professional insurance experience within direct and/or facultative insurance, with a focus on industrial energy property insurance.
• Strong knowledge of risk assessment and pricing methodologies, with experience in policy wording analysis.
• Proven negotiation skills and experience engaging with clients and brokers on terms and conditions.
• A relationship-focused approach with the ability to build and sustain long-term client and broker partnerships.
• A collaborative team-oriented mindset and high level of personal commitment.
• A proactive, solutions-focused approach with strong problem-solving capability.
• Fluent written and spoken English.
• Willingness to travel as required.

Desirable

• Experience working with analytics and data-driven insights.
• Progress towards or attainment of CII qualifications.

Qualifications and Education

• A university degree, preferably in an engineering, economics or related discipline.

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%

We are one of the few employers to offer fully paid  6months family leave for times when you need it the most. 

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

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.