Skip to main content
Get Job Alerts Saved Jobs View All Jobs

Engineering Underwriter

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 9706 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Claims & Underwriting
Apply Now

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.  

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

Please see our website for more information.

Engineering Underwriter

Responsible for the prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.

Responsibilities:

  • Assist in the delivery of the business plan for the Engineering London Market team.
  • Underwrite Engineering & Construction risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan;
  • Conduct and develop effective relationships with peers, clients, coverholders and brokers in the London Market, with a view to retaining quality business and securing new business that falls within the Munich Re Specialty Group appetite for Engineering
  • Provide appropriate technical and training resource to junior members of the team.
  • Work collaboratively and engage regularly with the Engineering teams in the Service Companies to ensure adherence to the global product approach of MRSG
  • Monitor recording of all aggregate and reporting information as follows:.
  • Provide Analytical Support as follows:
    • S2000 – risk entry report production using MS Excel; Use of S2000 Ad hoc reporting feature.
    • Supervise the Underwriting Assistants in monitoring of income flows (late premiums/adjustments etc) and work closely with the Credit Control team
    • Provide management reports as and when required.
  • Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority at all times.
  • Make written records of conversations with customers, both internal and external, in accordance with MRSG’s procedures manual.
  • Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
  • Review and administer existing contracts and make amendments in line with MRSG’s underwriting philosophy;

Knowledge and Skills

Advanced knowledge and understanding of:

  • Underwriting Principles;
  • Legal Principles;
  • FCA and Lloyd’s rules and regulations including contract certainty issues;
  • All company specific procedures that relate to own role and role of those employees that you are supervising;

Intermediate knowledge and understanding of:

  • BBB/PI
  • D&O and/or Property / Construction or Engineering line of business

  • Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm;
  • Develop and maintain market awareness and continually demonstrate thought leadership
  • A levels and/or relevant professional qualification

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

#BePresent #BeBold #BeCurious

Apply Now

Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

Explore Location

This may interest you

Featured Jobs

View jobs to show jobs list.

Save jobs to show jobs list.

View All Jobs

Activate your job alert

Looking for the ideal professional challenge? Stay informed with the Munich Re Group job alert service: Munich Re, ERGO Group and MEAG offer a wide range of opportunities. Once you have set up the service, you'll receive automatic email updates on new job vacancies that match your search criteria.

Interested InPlease select a category, location, and/or company option. Click “Add” to create your job alert. You can add more than one combination to your alert.

By signing up, I acknowledge that I have read the privacy policy, and I wish to receive email communications.

To complete the Job Alert, your e-mail address, and the filter criteria you selected will be processed. The processing of the data is exclusively for the purpose of sending the Job Alert e-mails. With deletion of the Job Alert, your data will also be deleted. You can find further information about our imprint here: Privacy Policy.