Property Underwriter (m/f/d)

Here at Munich Re Syndicate we are passionate about our people and the services we provide to our clients!

Are you an experienced and hardworking Property Underwriter committed to exceeding client expectations and looking for your next step with an outstanding Insurance brand?

If so, this may be just the opportunity for you!

The job is a front line role with daily broker contact and direct contact with clients, as well as internal liaison with other units within Munich Re.


London , United Kingdom


As an expert in your field, you will ensure the prudent underwriting of quality Property business in line with business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm. 

Given the range of work the team carries out, we operate in a flexible, collaborative way and are dedicated to crafting an encouraging environment so that people are inspired to develop. 


Your job

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 Underwriting business plan; referring to Property Underwriting Manager 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 Property Underwriting Manager 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 Underwriting business plan; referring to Property Underwriting Manager when appropriate;

Service existing binder contracts and open market risks, 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 judgment 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 weekly 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;

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 MRSL, 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;

Be aware of and take ownership of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner. In this context risk is the potential for loss or failure to meet business objectives as a consequence of internal or external events.

Provide support to manager on team and MRSL critical initiatives.

Provide underwriting assistance on other classes of business, as and when required;

Help drive forward good conduct for the business to deliver the best outcomes for customers / policyholders.

Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Your profile

You are required to comply with the PRA and FCA conduct rules:

Knowledge required

Advanced knowledge and understanding of:

Basic knowledge and understanding of: IT skills: Education and Professional Qualifications Preferred

About us

MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Groves, John & Westrup Ltd (GJW), NMU (Specialty) Ltd (NMU) and Roanoke International Brokers Limited (RIBL).

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht.

Known for our dedication to excellence and quality of service provision, we pride ourselves on offering you a great place to work.

Munich Re’s employees are the backbone of the Group’s business success. They are the people that drive the business forward and develop new solutions for our clients.

Ensuring that we recruit versatile staff is therefore crucial to our future success. Our objective is to make Munich Re the employer of choice for potential employees on the global job market..

To help us achieve this goal we offer a competitive salary and a generous and comprehensive benefits package which we regularly review in accordance with external market data, to ensure you are paid fairly and our benefits are tailored to suit your lifestyle. Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Please Note: All applications must be received via the website. Any CVs received via email will not be considered.

Re_think, Re_engineer, Re_define, Re_invent, the boundaries of Insurance.

Once you hit apply, there is a short, 10 minute application form to complete. Please ensure you attach your current CV when applying and include details regarding your salary expectations. If you have a disability or special need that requires accommodation, please let us know. Due to volume, we cannot always provide detailed feedback at CV stage.

Ellie Williams - MRSG Talent Acquisition Partner