Casualty Reinsurance Program Underwriter

Company



Munich Re America



Location



Chicago
, United States

We will consider candidates in Chicago or New York City.

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.

Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re's facultative and corporate business into one global unit. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

The Opportunity

Future focused and always one step ahead!

As Underwriter, you will underwrite and price a portfolio of reinsurance business in accordance with Munich Re guidelines, strategy and profitability standards. You will be responsible for developing recommended risk pricing and terms within appropriate underwriting authority. This includes completing risk analysis and assessment, coverage evaluation and pricing as well as participating in client negotiations in order to maintain and develop a profitable portfolio of reinsurance business.

Responsibilities

Underwriting:

• Independently underwrite and price moderate to highly complex business in accordance with corporate, divisional and department guidelines and philosophy.
• Underwrite new and renewal business in accordance with underwriting authority, including all tasks associated with information and data gathering, data manipulation, risk and coverage analysis, pricing, and deal negotiations.
• Review primary policy, contract and endorsement wording and ensure accuracy and conformance with guidelines
• Demonstrate and maintain enhanced technical product and underwriting expertise.
• Knowledge and expertise in underwriting international placements.

Client relationship management:

• Develop and maintain strong market presence by developing client and broker strategies.
• Proven ability to interact effectively with clients, brokers and colleagues
• Proactively identify and analyze the needs of existing and potential clients. developments and client needs.
• Excellent negotiation skills, facilitating and managing the complexities and challenges associated with offers, terms of contract with Brokers/Clients and, when necessary and feasible, submit counter proposals.
• Demonstrate advanced proficiency in the use of pricing models and other risk evaluation models.
• Decision making based on data Interpretation beyond models
• Participate in and provide input for the business plan development.

Qualifications

• 7+ years of primary insurance and / or reinsurance experience.
• 5+ years of underwriting experience preferred
• Bachelor's Degree required, advanced degree a plus.
• CPCU, ARe designations preferred;
• Demonstrated knowledge of General Liability, Automobile Liability, Umbrella/Excess Liability coverage and risk analysis
• Knowledge of common facultative and treaty reinsurance structures and terms
• In-depth knowledge of the US insurance and reinsurance markets supported by attending industry workshops/conferences and active involvement in professional societies.
• Excellent oral and written communication skills. Ability to explain complex transaction structures to both technical and non-technical audiences
• High degree of intellectual curiosity combined with critical thinking skills, analytical problem-solving abilities, and strong intuition to flexibly seek new ways to approach underwriting / pricing methodologies.
• Strong ability to interact effectively with clients, brokers, and colleagues.
• Effective time management skills
• Excellent computer 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 but can fluctuate upwards during renewal season)

The Company is open to considering candidates in numerous locations, including NYC and Chicago. The salary range posted below reflects market variations across various locations. This role is designated for either Chicago or NYC and reflects multiple geographies. The offer will be adjusted per geography.

The base salary range anticipated for this position is $135,600 - $226,100, 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 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.