CYBER & FINPRO UNDERWRITER
LOCATION: LONDON
This career opportunity is available at Santam Syndicate 1918 for an Cyber & FINPRO Underwriter who will be based in the UK & have right to work in the UK.
WHAT WILL YOU DO?
To build, manage, and grow a profitable portfolio of Cyber and Financial / Professional liability risks within a Lloyd’s syndicate. The role will combine strong technical and commercial underwriting skills, broker relationship building, exposure to regulatory and emerging risk trends, and close collaboration with internal teams (actuarial, claims, risk, legal) to ensure the underwriting strategy is aligned with the syndicate’s risk appetite, profitability targets, governance, and market positioning.
WHAT WILL MAKE YOU SUCCESSFUL IN THE ROLE?
Key Responsibilities:
* Underwrite new business and renewals in Cyber (e.g. data breach, ransomware, network security liability, business interruption due to cyber events) and Financial/Professional (e.g. Professional Indemnity, Directors & Officers, Errors & Omissions, Financial Institutions) classes under agreed authority and in line with portfolio strategy.
* Develop and maintain underwriting guidelines, appetite, and pricing frameworks for the classes, including minimum technical standards and conditions for risk acceptance.
* Assess technical submissions: evaluate risk exposures, control environment, threat vectors, historical loss data, third‑party vendor risk, regulatory/privacy exposures, contractual liability issues.
* Draft, negotiate, and review policy wordings, endorsements, and exclusions; ensure clarity, consistency, and contractual soundness.
* Monitor underwriting performance metrics: loss ratios, combined ratios, claims trends, exposure accumulation, large / catastrophic loss exposures; drive corrective action as needed.
* Build and manage relationships with brokers, clients, and other stakeholders in the London Market and globally; represent the syndicate in broker meetings, markets, seminars, industry forums.
* Work with cross‑functional teams (claims, legal, risk, actuarial, exposure management) to ensure emerging risks are identified and addressed, ensure regulatory compliance (e.g. data privacy, cyber regulation), and ensure alignment with syndicate’s overall strategy and governance requirements.
* Participate in market intelligence / research: stay informed about evolving cyber threats, regulatory changes (e.g. GDPR, UK Data Protection Act, national/international cyber regulation), technology trends, and FinPro risk exposures (e.g. ESG, regulatory risk, supply chain risk).
* Support product innovation: contribute to design of new coverages / product enhancements, bespoke solutions, or packaged offerings that cater to both standard and complex accounts.
* Mentor more junior underwriters, underwriting assistants, or analysts; ensure knowledge sharing and consistency of approach across the team.
QUALIFICATIONS AND EXPERIENCE:
* Several years (e.g. 4‑8+ depending on seniority) of underwriting experience in Cyber insurance and/or Financial & Professional / Liability lines in the London Market (Lloyd’s or London Company Market).
* Deep technical understanding of cyber risk: threat vectors (ransomware, business email compromise, supply chain compromise etc.), security / control frameworks, incident response, business interruption due to cyber, third‑party liability, data/privacy legislation.
* Experience with FinPro lines: Professional Indemnity, D&O, E&O or similar; understanding of exposures, policy wording, claims experience, regulatory & governance risk.
* Strong analytical, quantitative skills: able to assess exposure accumulation, model risk, use pricing tools, data, and loss experience to set rates and guide decisions.
* Commercial acumen: ability to balance risk vs reward, manage profitability, make decisions under uncertainty, negotiate terms with brokers and clients.
* Solid knowledge of the Lloyd’s market: regulatory & compliance (PRA / FCA), underwriting authority, Lloyd’s terminology, exposure management, reinsurance, risk appetite, policy wording & Market forms.
* Excellent communication and negotiation skills; able to articulate technical risk to non‑technical stakeholders; present to brokers / clients; strong networking.
* Good judgement and decision‑making ability; able to handle complex cases; escalate where appropriate.
* Degree (e.g. in Law, Finance, Risk/Insurance, Business, Engineering, Computer Science) or equivalent experience. Professional qualifications such as ACII / CII are advantageous. Cyber/security certifications (CISSP, CISM, or similar) a plus.
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
* Experience writing large / bespoke complex cyber & FinPro treaties / programmes, cross‑border placements.
* Familiarity with cyber risk scoring tools, vendor risk assessments, data privacy impact assessments.
* Awareness of emerging risks in FinPro / Cyber (ESG, supply‑chain cyber risk, climate‑related risks, AI / ML misuse, regulatory changes etc.).
* Prior involvement in product development or innovation in insurance, especially for cyber or liability lines.
* Entrepreneurial mindset: able to build or scale book, work in dynamic or growing syndicate.
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