UNDERWRITER - TERRORISM
LOCATION: LONDON
This career opportunity is available at Santam Syndicate 1918 for an Underwriter - Terrorism, who will be based in the UK & have right to work in the UK.
WHAT WILL YOU DO?
The role involves underwriting global terrorism and political violence risks, maintaining strong broker relationships, and contributing to the strategic development of the terrorism book in line with syndicate objectives.
WHAT WILL MAKE YOU SUCCESSFUL IN THE ROLE?
Key responsibilities:
* Risk Assessment & Underwriting: Underwrite terrorism and political violence risks (including SRCC, war on land, and active assailant coverage) within delegated authority limits and in line with underwriting guidelines.
* Portfolio Management: Monitor and manage aggregate exposures, geographic accumulations, and clash risk across territories.
* Broker & Market Engagement: Build and maintain strong working relationships with Lloyd’s and international brokers, promoting syndicate capabilities and developing quality submissions.
* Compliance & Governance: Ensure underwriting activity adheres to Lloyd’s, FCA, and internal compliance frameworks, including documentation, referrals, sanctions screening, and conduct risk.
* Modelling & Analytics: Utilise internal and third-party tools (e.g. RMS, AIR, internal exposure management platforms) to assess catastrophe exposure and pricing adequacy.
* Collaboration: Work closely with internal teams including actuarial, claims, operations, exposure management, and reinsurance to ensure consistent and profitable underwriting.
* Business Development: Support product development, new distribution channels, and international opportunities in line with the terrorism strategy.
* Reporting: Contribute to internal and Lloyd’s reporting requirements on premium income, RDS, aggregate limits, and scenario testing.
QUALIFICATIONS AND EXPERIENCE:
* Minimum 5–7 years of experience underwriting Terrorism, Political Violence, or related Specialty lines within the Lloyd’s or London Market.
* Strong understanding of political violence coverages, including SRCC, sabotage, terrorism, and war risks.
* Demonstrable experience working with brokers and negotiating complex placements.
* Sound knowledge of the Lloyd’s market, regulatory environment, and class of business codes and rules.
* Comfortable with exposure management principles and familiarity with accumulation control methodologies.
* Strong analytical, negotiation, and decision-making skills.
* High level of integrity and professional conduct.
* Experience with delegated authority and coverholder management.
* ACII qualification (or working toward).
* Familiarity with Pool Re and international terrorism risk pools.
* Working knowledge of risk modelling tools and mapping software (e.g., RMS, AIR, Sequel Impact).
* Relevant professional qualification (e.g., ACII, FIA, FCII) advantageous.
KNOWLEDGE AND SKILLS:
* Understanding of key coverages: Sabotage & Terrorism (S&T), Strikes, Riots & Civil Commotion (SRCC), Malicious Damage, War on Land, Insurrection, Rebellion, Active Assailant.
* Familiarity with geographic risk exposures and high-risk zones (e.g., MENA, LATAM, Asia, Sub-Saharan Africa, etc.).
* In-depth understanding of the Lloyd’s underwriting environment, including the slip system, line placement, box presence, and subscription market dynamics.
* Familiarity with Lloyd’s performance management directives, reporting standards, and regulatory obligations.
* Experience drafting and interpreting terrorism-specific wordings and endorsements.
* Knowledge of standalone terrorism cover, DIC/DIL structures, and interplay with property and cyber policies.
* Understanding of facultative and treaty reinsurance for terrorism risk.
* Awareness of risk pooling mechanisms like Pool Re (UK), TRIP (US), GAREAT (France), and others.
* Awareness of compliance frameworks: FCA, Lloyd’s Minimum Standards, sanctions checks (OFAC, HMT), and Know Your Customer (KYC).
* Understanding of conduct risk, consumer duty, and underwriting governance.
* Understanding of accumulation methodologies across urban, national, and regional terrorism scenarios.
* Familiarity with key metrics like Probable Maximum Loss (PML), Realistic Disaster Scenarios (RDS), and Clash Exposure.
* Exposure to models and software like RMS (e.g., Terrorism HD), AIR, or in-house tools.
* Understanding of how modelling informs pricing, accumulation, and portfolio steering.
COMPETENCIES AND SKILLS:
* Underwriting discipline and technical rigor
* Risk awareness and actuarial understanding
* Market and product knowledge
* Commercial and strategic thinking
* Regulatory compliance awareness
* Communication and negotiation
* Broker relationship management
* Initiative and accountability
PERSONAL ATTRIBUTES:
* Drives results
* Deciding and initiating action
* Leading and supervising
* Collaborates
* Client focus
* Flexibility and adaptability
* Cultivates innovation
* Strategic decision making
* Analytical thinking
* Influencing/ gaining commitment
* Business acumen
* Coaching and development
WHO WE ARE:
Santam syndicate 1918 is a new wholly owned and capitalised entity of Santam Insurance, the largest insurance company in South Africa with a 107 year heritage. 1918 is strategically important in expanding and developing Santam’s international footprint, through access to the London market talent, distribution network and Lloyd’s global insurance and reinsurance licenses.
Our syndicate is a London managed and run business, with a strong, experienced leadership team, focused on underwriting discipline, whilst allowing our teams to feel empowered and accountable for their actions. We are building a collaborative team where underwriting, claims, actuarial and other functions work closely, to help achieve superior underwriting results