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Underwriter Level 1

Location Munich, Germany Date posted 09/29/2025 Job type Full-Time Work mode Hybrid Job level Professional Job ID 8818 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Claims & Underwriting
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Responsibilities:

  • To assist delivering the agreed business plan
  • Underwrite construction and engineering risks, exercising judgement to make effective decisions in all underwriting matters, and remaining 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 within MRSI UK and with all intermediary/customers whom we deal with, with a view to securing new and renewal business that falls within the construction and engineering portfolio.
  • Review new business presentations, renewal presentations, mid-term adjustments and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority.
  • Make written records of all conversations with customers, and ensure all required documentation is uploaded as required into information management systems both internal and external, in accordance with the firm’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 the firm’s underwriting philosophy;
  • Act as a reference point on all issues for the allocated intermediary/customer or less experienced staff, so that a high level of customer service is delivered. 9. Undertake other duties as directed within the level of the job function.
  • Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
  • Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

  • High level of underwriting knowledge, technical pricing, philosophy and Company trading strategy
  • Ability to interpret and effectively use management information.
  • Excellent communication skills.
  • Knowledge of the local and national market.
  • Internal relationships with commercial department, Line of Business Managers, team members, Underwriters, the Claims Department and MRSL.
  • External relationships with a range of contacts within the allocated intermediaries and customers.

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!

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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.

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