Underwriter, Corporate Excess Casualty
New York , United States
Your jobWe’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.
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 recently 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.
Future focused and always one step ahead
With this opportunity, your primary responsibility will be underwriting corporate excess casualty programs (focusing on large commercial and multi-national corporate clients) in the US. You will develop and determine the commensurate terms and conditions applicable and consider risk-sharing acceptances, assist the head of the Unit to oversee the NA excess casualty portfolio to ensure profitability, and assist Claims to validate, and then optimize claims payments.
Your JobUnderwriting Requirements
- Independently underwrite and price business in accordance with corporate, divisional and department guidelines and philosophy.
- Underwrite new and renewal business, including all tasks associated with risk and coverage analysis and pricing, and provide recommendations for proposed terms within delegated underwriting authority.
- Review lead umbrella policy and endorsement wording to determine acceptability and to ensure conformance with guidelines.
- Refer all business outside of delegated underwriting authority to appropriate referral underwriter.
- Participate in mentoring underwriters and support the development of talent across Munich Re Group.
- Maintain complete and accurate business records.
- Assist management in the assessment of the portfolio to ensure profitability.
- Collaborate with Claims.
- Assist management as needed in fulfilling all managerial duties.
- Participate in peer reviews of team members’ accounts
Client Relationship Management
- Develop and maintain client and broker relationships and develop new sources of business.
- Provide responsive service on all broker and direct client requests.
- Monitor profitability of assigned clients.
- Promote the Group’s capabilities and competencies externally.
Your profileSuccessful candidates will possess the following skills/capabilities:
- 10+ years of excess casualty underwriting experience.
- Bachelor’s Degree preferred, advanced degree a plus
- Solid broker contact network
- Understanding of accounting, finance and actuarial concepts
- Proficiency in the use of pricing models, tools and other risk evaluation models
- Proficiency in MS Office Suite (strong Excel skills preferred)
- Excellent written and oral communication skills
- Ability to manage Client relationships and maintain profitable relationships
- Solid negotiation skills
- Ability to travel nationally and internationally (up to 20%)
- CPCU, ARe designations desirable
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.
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 you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.