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Underwriting Associate

Location Princeton, United States Job type Full-Time Work mode Hybrid Job level Graduate & Entry-Level Job ID 14278 Company Munich Re Specialty - North America Employment type Regular Area of expertise Claims & Underwriting
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Underwriting Associate

Expedition Underwriting Framework

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

The Opportunity

Future focused and always one step ahead!

The Underwriting Associate is an early‑experience underwriting role designed to support the development of underwriting professionals through practical experience and formal learning. Associates are embedded directly within an underwriting team from day one and learn the craft through hands‑on involvement in underwriting work.

In this role, Underwriting Associates develop core underwriting skills by working alongside experienced underwriters, gaining exposure to risk assessment, pricing, and coverage evaluation while building sound judgment and technical capability. Learning is practical, collaborative, and closely tied to real business outcomes, complemented by structured onboarding and select shared learning experiences alongside a cohort of your colleagues.

What You’ll Do

  • Learn and apply underwriting fundamentals, including risk assessment, pricing, coverage terms and conditions, and policy forms, through hands‑on work alongside experienced underwriters
  • Support quoting and binding activities under supervision to start, including preparing underwriting analysis, summaries, and file documentation
  • Partner with brokers and internal colleagues to support underwriting workflows, communicate clearly and professionally, and assist with follow‑ups and information gathering
  • Maintain underwriting file quality and data hygiene, including tracking exposures, documenting decisions, and following through on assigned actions
  • Practice disciplined, supported decision‑making aligned with underwriting guidelines, risk appetite, and portfolio strategy, with guidance from underwriting leadership
  • Use Excel and core underwriting systems to analyze accounts, support portfolio views, and build foundational analytical skills

How You’ll Grow (First Year)

  • Manager‑led, business‑embedded learning within your assigned underwriting team
  • Frequent coaching and feedback from underwriters focused on technical skill development, judgment, and readiness for greater responsibility
  • Access to HR‑supported onboarding, learning resources, and a flexible technical training catalog
  • Exposure to Claims, Corporate Underwriting, and other internal partners through business needs and collaboration
  • Progressive expansion of responsibility based on demonstrated capability, performance, and development

We are hiring one candidate for each of the following teams:

Financial Lines:

The Financial Lines team provides specialized insurance solutions that help organizations manage complex management and professional liability risks. Through disciplined underwriting, strong broker partnerships, and a focus on client service, the team underwrites, retains, and services profitable business for Munich Re Specialty North America. This role has the potential to be located in either Atlanta or Chicago.

Surety:

The Surety team is building a differentiated Contract and Commercial Surety platform within the Munich Re Specialty North America Wholesale Specialty Insurance division. With significant capacity and the ability to handle bonds and accounts of all sizes, from small and emerging companies to individuals and large co-surety placements, the team delivers comprehensive surety solutions across the market. This role has the potential to be located in New York, Philadelphia, Princeton, or Charlotte.

Public Entity Risk Solutions (PERS):

The Public Entity Risk Solutions (PERS) team brings more than 40 years of expertise serving public entities, including municipalities, transit agencies, educational institutions, nonprofit organizations, and more. Providing reinsurance, admitted insurance, and non-admitted insurance solutions across casualty and property lines, the team delivers specialized coverage designed to meet the unique needs of the public sector. This role has the potential to be located in San Francisco, Chicago, Atlanta, Philadelphia, Princeton, New York City, or Hartford.

Required Qualifications

  • Bachelor’s degree in Risk Management, Insurance, Actuarial Science, Mathematics, Statistics, Economics, Finance, Accounting, Business Administration, Business Analytics, or a related field
  • At least one prior internship with a meaningful degree of responsibility or equivalent work experience
  • Strong analytical and critical‑thinking skills with attention to detail
  • Functional knowledge of Microsoft Office (Excel, Word, PowerPoint)
  • Strong written, verbal, and interpersonal communication skills
  • Ability to work effectively in a team‑oriented, fast‑paced environment
  • Highly organized, adaptable, self‑directed, and resourceful

Preferred Qualifications

  • Exposure to insurance, underwriting, financial analysis, or commercial casualty
  • Demonstrated ability to manage priorities, follow through on assignments, and learn complex concepts
  • Service‑oriented mindset with a collaborative approach

The Company is open to considering candidates in numerous locations as referenced above. The salary range posted below reflects market variations across various locations. Salary may fluctuate depending upon location.

The salary range for this role is expected to pay $70,000-$75,000 for newly hired employees hired into this role, plus opportunity for company bonus based upon a percentage of eligible pay.  In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO). 

The salary estimate is adjusted to reflect the varying market conditions across different locations. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.   

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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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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