Job Description
New Vacancy - Underwriter (Property Facultative)
Lloyd's Syndicate
City of London
I am currently recruiting for a leading Lloyd's Syndicate who are seeking a Property Facultative Underwriter to join their growing team.
My client is looking for someone with 4+ years experience Underwriting Property business from a Facultative point of view. This role will focus on international business and writing business on an XOL basis, but my client is open to someone who has written primary too. This will be joining a team of 6 and my client has a heavy fire severe book.
Key Responsibilities
* Assist in the creation of the business plan for the portfolio and oversee its implementation.
* Stay informed about and actively support the execution of the business plan, making decisions as needed.
* Participate in all meetings to exchange ideas and enhance strategies, knowledge, and best practices.
* Actively promote the department, division, and overall company to maximize brand exposure.
* Implement the reinsurance strategy to protect the portfolio.
* Execute complex reinsurance activities in compliance with all legal and regulatory requirements to fulfill obligations.
* Follow underwriting standards, guidelines, and best practices to reduce risk and enhance efficiency.
* Ensure accurate recording and assessment of insurance risks, including Delegated Underwriting Authorities (DUAs) where applicable, while developing or adjusting policy wordings as necessary.
* Apply reinsurance requirements to mitigate risk and achieve business plan goals.
* Continuously enhance expertise and technical knowledge by identifying and engaging in relevant learning and development opportunities.
* Underwrite complex reinsurance risks in line with the business plan and delegated underwriting authority to fulfill business objectives. This encompasses negotiating rates, terms, and conditions for both existing and new business (adjusting policy wordings as needed), ensuring compliance with internal and external regulations, contributing to the business plan and goals, and assisting with credit control in payment collections.
* Contribute to and influence the review and analysis of the portfolio to assess progress toward business objectives (including audits and account performance).
* Ensure that all business is thoroughly assessed through peer reviews and that the written risks comply with the company's underwriting standards and individual authorities.