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Form of work
SalaryAbout us
Avencia Consulting are recruiting on behalf of a leading Reinsurance client in the City, who have a newly created position for a Political Risk Underwriter to join their London office.
The role
Reporting to the Head of Political Risk, the primary purpose of the role is to assist in originating, modelling, administering, and underwriting a portfolio of (re)insurance business. The role will consist of liaising with brokers and growing relationships with clients and brokers to assist in production of profitable business. Day to day underwriting will include; pricing, analysis, presenting on the underwriting call and liaising with more Senior members of the team on exposure/portfolio management. It will also include an in-depth knowledge of policy wordings. Opportunity is there to become the #2 on the team to the Head of Political Risk.
Key accountabilities
- Participate in the underwriting process, evaluation, and presentation of submissions, analysing and interpreting exposures, determining coverage and contract language.
- Working cross class, predominantly CF and PRI, but may need to work across PF and Structured Credit or other Bespoke lines when needed.
- Assist and work with risk modeling and pricing tools.
- Presentation of risks on the Underwriting Call.
- Originate, leverage, build and maintain broker and client relationships.
- Monitor market developments and remain current regarding knowledge of all relevant classes of business and legislated and regulatory changes / requirements.
- Ensure accuracy and integrity of underwriting data in group underwriting systems.
- Prepare and issue quotes on an accurate and timely basis.
- Supervising and/or mentoring junior members of the team.
- Ensure compliance with internal and external underwriting regulations, liaising as appropriate with external bodies such as brokers, clients, auditors and regulators as required.
- Assist with strategic initiatives as needed to promote business growth.
Skills & experience
- Minimum of five years' experience in a broking or underwriting capacity in the relevant line of business.
- Good networks and relationships with brokers and clients, and ability to independently manage meetings.
- Strong understanding of the underwriting marketplace.
- Excellent analytical skills, with a working knowledge of and ability to interpret the outputs of pricing models, and the statistical skills necessary to perform analyses on first principles.
- Proven negotiator, with demonstrated ability to attract new business and retain clients.
