Underwriting Manager Casualty Program
New York , United States
Your job*We will consider candidates in New York City, Chicago or Princeton
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.
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
Reporting to the Head of Casualty Fac US, your primary responsibility will be to lead a team of program underwriters to achieve business unit goals. Be accountable for a sizeable book of business by managing the underwriting of profitable business, achieving the goals as set forth in the business plan and managing, developing and retaining talent.
- Manage the underwriting process to ensure efficiency as well as underwriting and pricing integrity of the portfolio to achieve profitable growth for Munich Re.
- Delegate underwriting authority to staff, ensure underwriters have a clear understanding of underwriting and pricing guidelines and are proficient in the use of all applicable underwriting and pricing tools.
- Ensure underwriting practices are consistent with MR Group and MRAm delegated authority and local guidelines, Best Practices and underwriting strategies. Identify deficiencies in underwriting, implement corrective actions and provide guidance/training for the development of underwriters.
- Develop financial and non-financial goals and objectives for individual underwriters that are consistent with the business units an the MR Group targets. Negotiating directly with cedents and brokers as well as maintaining and enhancing customer relationships
- Support of the senior management in the development of industry and product strategies, planning and the internal reporting
- Responsibility for fundamental questions of principle in the department,
- Improving the external representation of Munich Re of America through appropriate publications, external presentations/seminars and participation in panel discussions
- Develop and mentor underwriters and support the development of talent across the MR Group.
- Take the lead in fostering a productive work environment, creating solutions and resolving problems involving other functional units such as Client Management, Underwriting Support, Pricing etc.
- Provide insight into the quantitative and qualitative analyses of Casualty results for senior management.
- Work with Division management to develop LOB strategies, the LoB Business Plan and a Target Portfolio as well as initiatives to ensure future success of Munich Re of America.
- Maintain responsibility for advancing underwriting relationships with key accounts and brokers as assigned and agreed to with the Head of Underwriting as appropriate.
Your profileSuccessful candidates will possess the following skills/capabilities:
- 10 years of industry experience, 7 in reinsurance;
- Underwriting Expert level knowledge of applicable Casualty Lines of Business as defined by Underwriter Competency Profiles developed by MR Corporate Underwriting;
- High level of actuarial understanding and demonstrated competency using MRAm pricing tools;
- High level of reinsurance contract (terminology) understanding and ability to develop alternative clauses where necessary;
- Experience in leading cross-functional projects;
- Strong interpersonal and social skills;
- In-depth knowledge of the US insurance and reinsurance markets;
- Solid negotiation, oral and written communication skills;
- Understanding of accounting, finance and actuarial concepts;
- Primary insurance experience and knowledge of non-traditional products a plus;
- Ability to explain complex transaction structures to both technical and non-technical audiences;
- Excellent presentation skills;
- Ability to develop and execute plans and to provide strategic direction to the development and achievement of unit goals;
- Willingness to travel and participate in industry events, client and broker visits (approx. 30% of time);
- Broker Market experience preferred;
- CPCU, ARe designations preferred;
- BS/ BA preferred, advanced degree a plus
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.