Underwriting Manager

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. F&C is 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 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:

Property business with global exposures. The account is focused on large, complex and small medium size enterprises written on both, facultative and corporate, basis.

The role requires: 

• Steering and monitoring business activity and performance, as well as projects to ensure that they align with the wider strategy of the business  

• Creating a vision/strategy and leading the team, delegating tasks and projects to team
• Developing, articulating and executing a vision and strategy for the team 

• Provide technical underwriting expertise and support to the team in evaluating and making decisions on single-risk business
• Reporting business activity, portfolio performance and managing underwriting talent 

The job is a front-line role with frequent broker contact, direct contact with clients and line management responsibility, as well as internal liaison with other units within F&C and the broader Munich Re group. 

Key Responsibilities:

Portfolio Management

• Develop, implement and execute strategies for sustainably growing the F&C Property (corporate and fac) single risk business under consideration of our global MR F&C Property Strategy and by applying regional market specifics.
• Foster a consistent underwriting approach that leverages the synchronizing of F&C and emphasizes considerations towards a diverse F&C Target portfolio particularly utilizing our global distribution strategy
• Responsible for the financial performance and profitability of the MR F&C London Property portfolio.
• As member of the MR F&C Property Leadership team, actively contribute and shape the strategic direction, value proposition and market positioning of MR F&C Property

Broker / Market Management

• Foster and maintain relationships with the Property Placement leadership teams of the major London brokering houses and promote MR F&C Property and Munich Re’s capabilities in the area of Property Risk.
• Represent Munich Re as an expertise-driven thought leader and steward in the London market, promote the Group Property strategy and value proposition as a leading global Property solution provider.
• Partner with key brokers and their clients to identify new and interesting business development initiatives for the responsible Corporate Property business for insureds in Africa, Asia, Australia, NZ, UK as well as well as Corporate Business in all other territories up to 2bn TIV & Global Facultative Business written in the London Market Place via UK based brokers/cedents.
• Support cross-selling initiatives with traditional lines of business within MR F&C to leverage client relationships and industry know-how.

People Management

• Leadership and managerial responsibility for the MR F&C Property London team, including coaching, development, objective setting and performance management of assigned staff members.
• Actively manage, execute and coordination of overarching F&C Property topics and projects

Key Skills & Experience:

• Excellent knowledge in Primary/Single Risk Insurance and Reinsurance with profund Property expertise
• Strong track record of leadership experience and stakeholder management
• Excellent knowledge on Property pricing and modelling tools for single risk assessment and portfolio steering
• Strong commitment to actively contribute to F&C Property success
• Very high level of collaboration and solution orientation
• Excellent analytical, presentation, conceptual and communication skills
• Ability to create strong team cultures

Desired Qualifications and Educational Background:

• Degree or equivalent professional-level qualification
• Economic, legal or finance background
• ACII preferred (or progress towards)
• Cultural and working experience abroad desirable

Application Instructions 

In order to consider your application, we require your application to be submitted via our online applicant portal. In addition to uploading your CV, we recommend writing a cover letter to tell us more about why the position is of interest to you. 

About us 

As the world's leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel.   

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.  

Sounds like you? Push boundaries with us and be part of Munich Re.  

Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.  

Unlock your potential 

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better. 
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth. 
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you. 

Rewards & Recognition 

• Competitive salary: appropriate compensation for your high level of commitment. 
• Retirement provision: state of the art in-house pension solutions. 
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance. 
• Health management: focus on your physical and mental health far beyond legal requirements.  
• Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis. 

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.