Head of UK Underwriting

About Us

At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.

Role Overview

Advise, develop, and provide leadership in relation to Munich Re Specialty, Global Markets UK strategy for MRS-GM underwriting business, specifically the regulated legal entity of MRSI UK which consists of a number of Lines of Business (LoBs).

The Head of UK Underwriting will work on strategic activities with the CUO, Retail as well as oversee the run-off activities of the Groves John Westrup (GJW) businesses.

All underwriting, business planning, IDD activity will be undertaken with the CUO, Retail or the individual holding underwriting authority under a binding authority with other carriers.

To maximize profit whilst maintaining Munich Re Group's reputation and integrity, demonstrating care for customers and in compliance with regulatory obligations.

To manage LOB underwriters writing business on behalf of MRSI UK (through a binding authority for MRSI UK, MRRSI) to manage underwriting, business planning, and all associated regulated activity and be responsible for ensuring such activity is conducted in compliance with Lloyd's, FCA, and PRA Rules.

Ensure underwriting is conducted within the parameters of the SBF and in adherence to Underwriting strategy.

Participate and attend Underwriting and Claims Sub-Committee (UCSC) Meetings where necessary and appropriate.

Responsibilities:

• Managerial responsibilities for the underwriting division consisting of Specialty SME LoBs.
• Attend Munich Re Specialty- Global Markets underwriting strategy meetings, represent and promote UK based MRS-GM regulated legal entities (MRSL, MRSI UK) externally to customers, the industry, and other organizations.
• Provide appropriate information to the CUO, Retail in relation to strategic development.
• Build and maintain strong internal relationships with Senior Management colleagues, Commercial and Technical functions, centralized resources, and the Syndicate (MRSL), other MRSG IDCs, and other MR Group companies.
• Help drive good conduct for the business to deliver the best outcomes for the customers/policyholders.
• Report any significant failures to comply with regulations or similar suspected rule breaches to Compliance immediately.
• Understand all appropriate lines of escalation and the responsibilities of the PCRSG, UCSC, ExCo, and Board for Conduct Risk.
• Contribute to the definition and promotion of the Munich Re Specialty, Global Markets strategy reflected in the One Company, Product Led approach.
• Search out and develop new business opportunities compatible with the LoB underwriters based in global regions and markets to the extent permitted by local regulations.
• Provide strategic guidance and empowerment to the global underwriting teams to be actively involved in delivering the One Company, Product Led underwriting strategy.

Leadership:

• Support and maintain underwriting activities and performance to achieve business objectives and targets.
• Recruit, lead, and motivate direct reports to implement Munich Re Specialty, Global Markets global underwriting strategy.
• Support staff development by objective setting via continuous conversations approach.
• Allocate management responsibilities clearly to meet strategic, business, and regulatory requirements.

Knowledge and Skills:

• Demonstrated ability in an executive leadership position.
• Leadership skills, with steadfast resolve and personal integrity.
• Exceptional Underwriting skills.
• Industry knowledge of the marine and specialty insurance markets.
• Exceptional organizational skills with a pragmatic and clear approach.
• Strong understanding of sophisticated business planning and regulatory issues.
• Proven grasp of data analysis and performance metrics.
• University Degree and/or relevant professional qualification relating to insurance underwriting or business administration.
• Dip CII / ACII preferred.

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!

Location:

Whilst this opportunity is currently being advertised in London, we are open to considering this opportunity nationally across the UK.

Diversity, Equity & Inclusion:

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better.

Learning and Innovating:

At Munich Re Specialty - Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment.