Underwriter - Onshore Energy

Underwriter - Onshore Energy

London, UK

AXA XL Energy is looking for an experienced Onshore Energy underwriter to take on a prominent role within the London team. The right candidate will have shared responsibility for a broad portfolio of Onshore Energy risks, including downstream and midstream sectors alongside power generation and transmission and distribution.

The portfolio has a strong foothold in the conventional oil and gas and power generation markets; however, it is also pivoting in line with the Energy Transition and has a growing segment dedicated to technologies contributing towards a carbon net zero future. This includes more established clean technologies such as onshore wind, solar and nuclear sectors as well as emerging technologies such as carbon capture, hydrogen, and sustainable fuels. Key to the role will be the ability to navigate this fast-moving space whilst maintaining underwriting discipline and taking calculated risks.

Onshore Energy forms part of the wider London Energy team, which also includes Exploration and Production, Offshore Wind and Energy Liability.

This is a regulated role under the Central Bank of Ireland’s Fitness and Probity regime.

DISCOVERyour opportunity

What will your essential responsibilities include?

• Reviewing submissions including applications, policy wording, inspection reports, loss runs, and financial reports while conducting appropriate research to determine degree of risk for each account.

• Calculating appropriate risk premium by considering the risk costs inherent to the … sector, reinsurance cessions as well as the Underwriting and general administration costs while ensuring profitability.

• Proactively advising, assisting, servicing and following up with clients on insurance and risk management matters to ensure satisfaction and fulfillment of their insurance requirements.

• Effective relationship management to initiate opportunities for cross-selling offered products and ensuring account retention

• Controlling timely implementation of new and renewed accounts according to quality standards.

• In coordination with other internal teams, determining appropriate reinsurance for risk placements both on excess of loss and quota share basis.

• Reviewing loss control reports and managing policy endorsement requests to process any necessary changes to the policy

• Support the business planning and forecasting process; monitor financial exposure within outlined limits; monitor premium income to ensure it remains within set limits.

• Maintain awareness of all claims advised while supporting and providing input on settlement of claims.

• Working collaboratively in a team environment, assisting underwriters, underwriting assistants and management team.

You will report to the UK Head of Downstream, Power and Renewables.

SHARE your talent

We’re looking for someone who has these abilities and skills:

• Under technical direction, works within significant limits and authority on assignments of higher technical complexity and coordination.

• Possesses demonstrated technical underwriting knowledge and skills, including product and industry, reflective of successful progression

• Advanced analytical, negotiation and sales/marketing skills.

• Excellent written and oral communication skills.

• Interpersonal Savvy - Demonstrated ability to build and maintain good insured and broker contacts.

• Ability to develop and understand business processes, strategy and planning.

• Collaborative team player who provides creative solutions and ideas for resolution

FIND your future

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.

How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business property, casualty, professional, financial lines and specialty.

With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

Learn more at axaxl.com

Inclusion & Diversity

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.

At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
• Robust support for Flexible Working Arrangements
• Enhanced family friendly leave benefits
• Named to the Diversity Best Practices Index
• Signatory to the UK Women in Finance Charter

Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

Our Pillars:

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
• AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

For more information, please see axaxl.com/sustainability