President Excess and Surplus Lines
New York , United States
As the President of Excess & Surplus Lines, you will lead the Excess & Surplus business unit of Munich Re Specialty Insurance and ensure successful execution of the business plan and ongoing strategic growth.
You will be responsible for developing and executing the strategy to achieve underwriting profit, portfolio quality, growth, diversification, and operational objectives by developing and maintaining effective external relationships with brokers and delivering on the MRSI value proposition. You’ll also be responsible for driving the vision of developing an in-house underwriting capability for Middle Market specialty lines in the United States. You will work to contribute to the overarching Munich Re North America Commercial Insurance strategy together with other insurance entities in the Group.
The position is responsible for the overall underwriting integrity, product and program development, management of staff, advancement of business processes and systems, wholesale broker relations, and regulatory compliance. The ideal candidate for this role possesses strong commercial underwriting expertise and will actively support and drive Munich Re Group’s talent-related goals to create and sustain a high performance culture and diverse workforce.
Major responsibilities include:
- Develop business plan and lead the expansion of the company’s E&S products by identifying target markets and opportunities.
- Drive the E&S underwriting strategy and operating model (mission, vision, objectives, target segments/niches, distribution, strategic growth plans, etc.)
- Lead the E&S UW team to achieve business unit objectives and to assist with building/managing the E&S book of business (e.g., underwriting and product leadership, leading execution of individual account and portfolio strategies)
- Exercise innovative problem solving and nontraditional approaches to build the portfolio and provide insight for profitability, growth and financial stability.
- Grow the E&S book of business and maintain overall performance against financial targets.
- Manage the operation of the E&S division including ensuring discipline to underwrite business profitably
- Create and maintain important distribution relationships in wholesale and retail brokerage markets
- Contribute to the vision of overarching NA Commercial strategy together with other insurance entities within the Group
- Maintain underwriting policy within Munich Re guidelines
Your profileSuccessful candidates will:
- Drive the implementation of the Group, Company & Division plans for the specialty Excess and Surplus business.
- Have the ability to inspire, motivate & build a team
- Focus on bottom line profitability
- Drive results at pace.
- Instill a culture of using data and analytics to make decisions.
- Drive corporate initiatives while leveraging both the formal & informal organizational structures
- Have the ability to influence internal and external stakeholders/ clients
- Create an environment that encourages diversity of thought and opinions
- Collaborate with colleagues and stakeholders within Munich Re
- Resolve the most complex problems and questions by developing innovative solutions to meet client and organizational needs
- 15+ years spent in P&C insurance, preferably at a specialty lines carrier in an executive leadership role
- 10+ years of management experience
- Established reputation in the E&S market, with an extensive network of existing relationships in wholesale and retail brokerage markets
- Advanced working knowledge of E&S products and insurance concepts, underwriting processes and procedures, laws and regulations, terminology, concepts and principles related to strategic planning, and other relevant industry trends
- Demonstrated exceptional market expertise which includes understanding broker capabilities and the competitor landscape
- Proven record of growing and maintaining profitable portfolios, preferably in specialized niches and across geographies
- Ability to develop & execute plans and to provide strategic direction to the development & achievement of division goals.
- Experience with establishing, growing, and maintaining startup companies and/or business units preferred
- Strong leadership skills with the ability to build rapport and teamwork, resolve conflicts, and motivate staff/teams
- Strong understanding of accounting, finance and actuarial concepts and how they act as levers for the business.
- Advanced insurance designations (CPCU preferred)
- Bachelor degree
At Munich Re US, we see Diversity 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.
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.