We are currently looking for a Property Underwriter to work with us on a full‑time basis in our London office, reporting into the Group Head of Delegated Property.
You will ensure the prudent underwriting of quality Delegated Property business in line with the business plan to facilitate maximum return of profit while maintaining the company’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the company.
Responsibilities
- Underwrite new and renewal Property binders, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with the Underwriting business plan; referring to Group Head of Delegated Property when appropriate.
- Ensure the effective management of property binders, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits; referring to Group Head of Delegated Property when appropriate.
- Underwrite new and renewal Property risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with the Underwriting business plan; referring to Group Head of Delegated Property when appropriate.
- Service existing binder contracts and make amendments in line with the Syndicate’s underwriting philosophy.
- Enter relevant risk information into S2000 and other appropriate systems, ensuring compliance and KYC requirements are in order.
- Conduct and develop effective relationships with Coverholders and Brokers, to both strengthen existing trading relationships and secure new business that falls within the Underwriting business plan.
- Conduct and develop effective relationships with colleagues in the property team and other teams, including claims, actuarial, binder management, underwriting management, exposure management, compliance and finance.
- Conduct and develop effective relationships within Lloyd’s and the wider market, with peers and brokers, to keep abreast of market developments that may affect the syndicate’s trading effectiveness.
- Review slips and endorsements along with other placing information and literature, exercising own judgement to ensure the account remains within the Underwriting business plan.
- Review rate structures, underwriting guides, policy wordings and supporting documentation, exercising own judgement to ensure they are appropriate for the portfolio of business.
- Monitor on a monthly basis the written and signed premium income of the Property account.
- Monitor on an ongoing basis country aggregates to ensure that acceptances are within agreed limits.
- Manage risk management surveys.
- Prepare and review information for reinsurers as and when required.
- Provide supporting data and reports for team meetings, internal and external meetings, and business plans as and when required.
- Attend and contribute to regular and ad‑hoc Property team meetings, meetings with colleagues within MRSGMS, and meetings with Coverholders, brokers, suppliers and other entities.
- Ensure that company procedures and systems are followed and maintained, as per procedures and compliance manuals.
- Monitor renewal reports and chase outstanding renewal business.
Knowledge and Skills
Advanced knowledge and understanding of:
- US Commercial property business, including liability associated with commercial property business;
- US Homeowners and High Value Home business;
- FCA / PRA and Lloyd’s rules and regulations including conduct risk and contract certainty issues;
- Lloyd’s insurance market;
- Underwriting Principles;
- Legal Principles;
- All company specific procedures that relate to own position.
Basic knowledge and understanding of:
- Potential risks facing the business within own role and the controls that are in place to mitigate them;
- A clear understanding of the roles of colleagues and their relationships to the structure and business plans of the syndicate;
- Willingness to continue to develop knowledge of products, underwriting and related issues through formal and informal learning, both internally and externally to the firm.
Accessibility
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.
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non‑contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set‑up Support
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