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Sector: Insurance
Role: Specialist
Contract Type: Permanent
Hours: Full Time

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 serves multinational corporations. We write both traditional and non-traditional insurances through 6 lines of business: Property, Energy, Casualty, Engineering, Cyber, and 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, 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 underwriter is to work as part of a highly functioning team focused on producing consistently good results while ensuring underwriting standards. They will cultivate and assess engineering and construction risks throughout the world by engaging the broker network and clients. There will be a focus on attaining the best possible solutions in line with the group strategy. Underwriters have the responsibility to support the training and development of all staff, including themselves.

Key Responsibilities:

1. To underwrite Corporate and Facultative engineering lines of business mainly through London brokers (EAR, CAR, Renewables) for global placements utilizing the process and systems within the organization.
2. To grow and develop internal and external key stakeholder relationships in order to maximize business potential.
3. To represent Munich Re (F&C London) at conferences, market events, and London working groups (e.g., LEG).
4. To conduct market and portfolio reviews in collaboration with the team and management.
5. Promote efficiency and collaboration within the organization.

Competencies:

1. Drives results (we think big) - you consistently achieve results even under tough circumstances, with the organization’s performance in mind. You make good and timely decisions to keep things moving, using analysis, experience, and judgment.
2. Business insight (we think big) - you can apply your knowledge of the business and the market to advance your business' and wider organization’s goals.
3. Collaboration (we lead the 'we') - you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion while maintaining clarity and unity of direction.
4. Client focus (we grow with our clients) - you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
5. Cultivates innovation (we grow with our clients) - you create new and better ways for Munich Re to be successful, e.g., generating ideas, creating efficiencies, harnessing new technology, etc.
6. Courage (we care and dare) - you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You continue to operate effectively even when things are uncertain and the way forward is unclear.
7. Persuades (we are clear and authentic) - you use clear and compelling arguments to gain the support, enthusiasm, and commitment of others while ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience:

Essential

1. Have an in-depth knowledge of engineering insurance and technical understanding of engineering risks.
2. Good communication, negotiation, and relationship skills.
3. High level of commitment and ability to work under pressure.
4. IT application knowledge.

Desirable

1. Second language.
2. London market experience.

Desired Qualifications and Educational Background:

1. Engineering degree (preferred).
2. ACII qualified (or at least have made significant progress towards this qualification) and/or alternative relevant professional qualification.

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 behavior 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 Underwriting role/function will also become responsible for:

1. Ensure compliance with Insurance Distribution Directive.
2. 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 recognize 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.

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