Underwriter, Political Violence and Property

Underwriter, Political Violence and Property

**Company**
Munich Re Specialty - Global Markets
**Location**
Singapore, Singapore

**About us**

At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Munich Re Specialty was formed as a stand-alone division in 2023, and brings together the wider Munich Re group’s primary specialty business units. Complementing an already strong presence in the UK and the US, Munich Re Specialty - Global Markets (MRSGM) has been tasked with executing a wider plan to build a broader global footprint. We’re looking for a passionate and experienced **Political Violence and Property Underwriter** to join our Specialty team at a truly exciting time.

**Overall Responsibilities**

Underwrite for the classes of business (Political Violence and Property) as well as provide accurate and quality assistance to the management function for key aspects of the Account; at all times demonstrating care for customers and respect for the regulatory obligations of the Syndicate. Work together with Senior Underwriter and Underwriting Assistant to ensure the provision of an accurate and quality underwriting and administrative service for the specified classes of business.

**Responsibilities**:

- Exercise judgement in all underwriting matters, and remain aware of own underwriting limits in accordance with prevailing authority, all in accordance with the Syndicate Business Plan;
- Conduct and develop effective business relationships with brokers, cover holders and clients with a view of both securing new business and retaining appropriate renewal business;
- Provide consistent input for the Rating Adequacy Process and other Management Reports;
- Review and administer existing contracts and make amendments in line with the firm’s underwriting philosophy;
- Monitor accurate input of data and amend where appropriate;
- Review daily claims report for class of business
- Ensure Account conforms with the principles of Contract Certainty;
- Transfer underwriting information from slips to individual front sheets to provide more efficient retrieval of information;
- Obtain monthly renewals report and chase brokers for outstanding renewals;
- Obtain account premium chasing reports and oversee chasing of brokers for outstanding premiums;
- Produce ad hoc reports to aid account analysis and/or management reports as required;
- Keep appropriate records of all conversations with broker and other customers and/or insurers, or other relevant business contacts, in accordance with the firm’s procedures manual;
- Ensure that company procedures and systems are followed and maintained, as per procedures and compliance manuals;
- Provide appropriate technical and training to junior members of the team where necessary

**Knowledge Required**
- Basic (Level 1) knowledge and understanding of:
- Underlying Principles of Insurance;
- Legal Principles;
- MAS rules and regulations;
- Lloyd's regulations;
- Political Violence and Property Business
- Demonstrate clear understanding of all company specific procedures that relate to own role;
- Demonstrate growing understanding of the roles of colleagues and their relationships to the structure and business plans of the Company.
- Willingness to continue to develop knowledge of policies, underwriting and related issues through formal and informal learning, both internally and externally to the firm.
- Be aware 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.