Senior US Delegated Property Underwriter

Join us as a Senior US Delegated Property Underwriter at Munich Re Specialty – Global Markets, UK.

About Us

At Munich Re Specialty – Global Markets (MRS‑GM), we aim to become the leading Primary Specialty Insurance provider through an effective and adaptable strategy, superior products, and a supportive environment that empowers our team to achieve success.

Job Summary

We need a Senior Property Underwriter to work full‑time in our London office, reporting to the Group Head of Delegated Property. You will ensure prudent underwriting of Delegated Property business, maximize profit, and uphold our reputation and regulatory obligations.

Responsibilities

• Underwrite new and renewal Property binders, exercising judgement and staying within your underwriting limits.
• Manage property binders, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, and regular reviews.
• Service existing binder contracts and open‑market risks, making amendments aligned with the Syndicate’s philosophy.
• Enter risk information into S2000 and other systems, ensuring compliance and KYC.
• Build and maintain relationships with Coverholders, brokers, and internal teams (claims, actuarial, compliance, finance).
• Stay informed about market developments through Lloyd’s and the wider market.
• Review slips, endorsements, rate structures, underwriting guides, and policy wordings to keep accounts within the business plan.
• Monitor monthly premium income and country/state aggregates to stay within limits.
• Manage risk‑management surveys.
• Prepare and review reinsurer information as required.
• Provide data and reports for team and corporate meetings.
• Record risk entry accurately and amend when needed.
• Support the Group Head in supervising Underwriters, Assistant Underwriters, and Underwriting Assistants.
• Attend and contribute to binder team meetings and other internal meetings.
• Follow company procedures and systems.
• Track renewal reports and chase outstanding renewal business.
• Support line manager on strategic initiatives.
• Assist on other classes of business as required.

Knowledge & Skills

• US Commercial property business, including liability for combined/package business.
• US Homeowners and High‑Value Home business.
• FCA / PRA and Lloyd’s rules, including conduct risk and contract certainty.
• Lloyd’s insurance market.
• Underwriting Principles.
• Legal Principles.
• Company procedures relevant to your role and supervisory responsibilities.
• Clear understanding of colleague roles and their relationship to the business plan.
• Market awareness.

Diversity, Equity & Inclusion

Munich Re promotes an inclusive environment that values diversity across race, ethnicity, gender, age, abilities, and beliefs. All candidates can request a reasonable adjustment at any point in the recruitment process.

Learning & ESG

Our ESG strategy focuses on environmental, social, and governance impacts, supporting local initiatives and volunteering opportunities.

Benefits

• 25 days Annual Leave + Bank Holidays.
• 10% Non‑contributory Pension.
• Eligibility for an Annual Bonus.
• Private Medical + Dental Insurance.
• Critical illness, Life Assurance, and Permanent Health Insurance.
• Wellbeing and Development Scheme, EAP, Health Assessments.
• Electric Vehicle Salary Sacrifice Scheme.
• Study & professional development support.
• Hybrid Working + IT Home Set‑up Support.

Location: London, United Kingdom | Type: Full‑time | Seniority level: Mid‑Senior level | Function: Finance & Industry: Insurance.