Title: Casualty Treaty Underwriter, VP
Princeton, NJ, US
Casualty Treaty Underwriter, VP
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.
The Treaty Casualty Underwriter will underwrite, price and support a portfolio of new and renewal Casualty and Workers Compensation treaty reinsurance business in accordance with Munich Re US guidelines, strategy and profitability standards. The underwriter is responsible for risk analysis and assessment, coverage evaluation, pricing, and assisting in contract negotiations in order to maintain and develop a profitable portfolio of Casualty and Workers Compensation assumed reinsurance business.
Responsibilities:
• The Casualty Treaty Underwriter will underwrite, price and support a portfolio of new and renewal General Casualty and Workers Compensation treaty reinsurance business in accordance with Munich Re US guidelines, strategy and profitability standards.
• This role is responsible for risk analysis and assessment, coverage evaluation, pricing, and assisting in contract negotiations in order to maintain and develop a profitable portfolio of Casualty assumed reinsurance business.
• Underwrite and price Casualty treaty reinsurance business in accordance with the Division’s Casualty Strategy and in compliance with corporate and divisional guidelines and best practices, both independently and also under supervision of senior underwriters. Strong understanding of the private workers compensation as well as assigned risk and state fund markets, traditional and structured workers compensation programs. Specifically experience in proportional primary, per person excess of loss, and workers compensation catastrophe.
• Works with more senior staff when dealing with complex issues, larger clients, accounts, projects, analyses, or internal relationships.
• Underwrite new and renewal treaty business in accordance with delegated underwriting authority, including all tasks associated with risk and coverage analysis and pricing, monitoring of account results, and provide recommendations for proposed terms and conditions, both independently and also under the supervision of senior underwriters. Negotiate contract terms and wording with clients and brokers.
• Complete underwriting audits of clients and prospects in order to provide credible evaluations of the quality of their books of business. Have contacts with existing workers compensation brokers and/or insurance companies. Attend industry conferences, seminars, expert panels, and other marketing events.
• Assist in projects related to the development and implementation of underwriting strategy for Casualty and Workers Compensation lines. Provide input on or develop client strategies, where applicable.
• Develop advanced proficiency in the use of Munich Re pricing models and other risk evaluation tools; including enhancing technical product and underwriting expertise with respect to both the primary and re-insurance market and products.
• Develop strong market presence being active in industry organizations and participating in broker and client marketing efforts.
• Work collaboratively with colleagues in other functional areas and across the Group, share knowledge by participating in line of business monitoring and business development activities. Works with more senior staff when dealing with complex issues, larger clients, accounts, projects, analyses, or internal relationships. Function as subject matter expert for the broader Casualty Treaty team.
Qualifications:
• 10+ years of primary insurance and/or reinsurance company experience;
• Underwriting knowledge of Casualty Treaty. Experience in Workers Compensation Lines of Business; including actuarial concepts, industry trends, accounting and legal a plus.
• Experience in primary and/or reinsurance General Liability, Umbrella, Auto, Excess Liability, Professional Liability, or Other specialty underwriting a plus.
• Strong interpersonal and social skills; team player.
• Strong negotiation, oral and written communication skills; Excellent presentation skills;
• Ability to think creatively and show flexibility handling multiple projects;
• Effective time management skills;
• Excellent computer skills; proficiency in MS 365 with emphasis on Excel a plus;
• Willingness to travel for audits and client and broker visits (approx. 25% of time);
• CPCU, ARe, FCAS / ACAS designations strongly preferred;
• BS / BA required, advanced degree such as MS/MBA or other quantitative field a plus
The Company is open to considering candidates in numerous locations, including New York City, NY and Princeton, NJ. The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.
The base salary range anticipated for this position is $182,100 - $290,300, 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 is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the New York City job market. 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.
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.