Casualty Team Lead

Casualty Team Lead

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.  We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products. 
 

The Opportunity
Future focused and always one step ahead.

This role will lead a team of General Casualty underwriters to achieve business unit goals.   Be accountable for a book of business by managing the underwriting of profitable business, achieving the goals as set forth in the business plan and managing, developing, and retaining talent. Develop and interact with brokers and cedents on individual accounts as well as liase and work in conjunction with Claims, Actuarial, and Business Development colleagues.

Responsibilities:

• Manage a team of general casualty liability underwriters to ensure an efficient process as well as underwriting and pricing integrity of the portfolio.
• Delegate underwriting authority to staff, ensure underwriters have a clear understanding of underwriting and pricing guidelines and are proficient in the use of all applicable underwriting and pricing tools.
• Ensure underwriting practices are consistent with MR Group and MRAm local guidelines, best practices and underwriting strategies.  Identify deficiencies in underwriting, implement corrective actions, and provide guidance/training for the development of underwriters.
• Develop financial and non-financial goals and objectives for individual underwriters that are consistent with the SBU, RD, Company and, if applicable, the MR Group. 
• Develop and mentor underwriters and support the development of talent across the MR Group.
• Take the lead in creating solutions and resolving problems involving other functional units such as Client Management, Underwriting Support, Pricing, GC/NA 1 & 2, etc. 
• Provide insight into the quantitative and qualitative analyses of General Casualty results for the SBU. 
• Work with Division management to develop LOB strategies, the LoB Business Plan and a Target Portfolio as well as initiatives to ensure future success of the business unit.

Qualifications: 

• 15+ years of industry experience, 10+ in reinsurance underwriting
• Underwriting Expert level knowledge of applicable General Casualty Lines of Business as defined by Underwriter Competency Profiles developed by MR Corporate Underwriting; including acceptance and underwriting authority in line with portfolio responsibilities.
• High level of actuarial understanding and demonstrated competency using MRAm pricing tools; experience in actuarial pricing role preferred
• High level of reinsurance contract (terminology) understanding and ability to develop alternative clauses where necessary.
• Experience in leading cross-functional projects.
• Strong interpersonal and social skills.  
• In-depth knowledge of the US insurance and reinsurance markets.
• Solid negotiation, oral and written communication skills.
• Understanding of accounting, finance, and actuarial concepts.
• Primary insurance experience and knowledge of non-traditional products a plus.
• Ability to explain complex transaction structures to both technical and non-technical audiences.
• Excellent presentation skills.
• Ability to develop and execute plans and to provide strategic direction to the development and achievement of unit goals. 
• Willingness to travel for audits and client and broker visits (approx. 25% of time).
• BS/ BA preferred, advanced degree a plus.

The Company is open to considering candidates in Princeton, NJ. The salary range posted below applies to the Company’s Princeton location.

The base salary range anticipated for this position is $237,100 - $316,100 plus opportunity for company bonus based upon a percentage of eligible pay.  In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO). 

The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

• Two options for your health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that is 100% company funded.
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.   

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.