Role title: Property Treaty Underwriter
Salary: £60k - £80k
Purpose of Role
- The Property Reinsurance team in London exists to provide treaty reinsurance solutions for property portfolios of insurance companies globally which elect to purchase treaty reinsurance in the London Market. We work closely with all other Property Teams. We sell both Lloyd's and Company market capacity.
Strategy and Planning
- Support the development of the annual business plan for the Underwriting division and ensure delivery of the plan in accordance with stated risk tolerances
- Ensure the team's awareness of the business plan and its context so that theyare able totake appropriate action and make informed decisions
- Contribute and participate in all meetingsin order toshare and develop strategy, knowledge and best practice
- Contribute new ideas and concepts to support the development and delivery of the business plan
- Establish and strengthen relationships with brokers, industry bodies, business partners,reinsurersand colleagues, to maximise influence and achieve business objectives
- Demonstrate understanding and awareness of market dynamics and market cycles to drive and enhance business performance
- Continually develop expertise and technical knowledge through appropriate development initiatives
- Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including:
- Negotiating rates,termsand conditions for existing and new business
- Compliance with the production and issue of documentation in accordance with contract certainty requirements
- Contribute and influence in the review and analysis of the portfolio, to identify progress towards business objectives
- Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures
- Anunderstanding of insurance and reinsurance in general, specifically property classesand different treaty reinsurance products.
- An appreciationof how Global socio-economic forces affect (re)insuranceandof how local business & regulatory environment affects (re)insurance.
- Knowledge oftreaty reinsurance wordings, contract terminology & clauses
- Knowledgeof performance indicators relevant to the measurement of a treaty reinsurance portfolio -CoR, ELR, ULR, ILR, GWPI, GEPI etc.
- Ability toanalyse& manage data inputs & outputs in the underwriting processandunderstand the relevance of the data for property reinsurance.
- Select relevant data in the underwriting process to ensure a consistent pricing approach