VP, Property Treaty Underwriter
VP, Property Treaty Underwriter
Munich Re America
Princeton , United States
*We are open to considering candidates in New York City, NY and Princeton, NJ.
We’re 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. We will consider a range of experience for this role and the offer will be commensurate with that.
Munich Re US (MR US) offers the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
We address the key challenges of the future – that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow’s world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients’ needs, creating opportunities to achieve sustained profitable growth.
The Property Treaty Underwriter is responsible for independently underwriting and pricing a portfolio of new and renewal Property treaty reinsurance business in accordance with Munich Re U.S. guidelines, strategy and profitability standards. The Property Treaty Underwriter is responsible for independently underwriting and pricing a portfolio of new and renewal Property treaty reinsurance business in accordance with Munich Re U.S. guidelines, strategy and profitability standards. The Property Treaty Underwriter is responsible for risk analysis and assessment, coverage evaluation, pricing, and contract negotiations in order to maintain and develop a profitable portfolio of Property assumed reinsurance business.
Key Responsibilities of this position include:
- Profitably underwrite and price Property treaty reinsurance business in accordance with corporate and divisional guidelines and strategies independently and also under supervision of senior underwriters.
- Underwrite new and renewal treaty business in accordance with underwriting authority, including all tasks associated with risk and coverage analysis and pricing, and provide recommendations for proposed terms independently and also under the supervision of senior underwriters.
- Negotiate contracts with clients and brokers.
- Complete underwriting audits of clients in order to provide credible evaluations of the quality of our clients’ and prospects’ books of business.
- Provide responsive service on all broker and client requests.
- Provide input on or develop client strategies, where applicable.
- Analyze and monitor account experience and provide guidance on any emerging issues.
- Develop advanced proficiency in the use of Munich Re pricing models and other risk evaluation models.
- Develop strong market presence by being active in broker marketing and industry meetings.
- Develop enhanced technical product and underwriting expertise with respect to primary insurance market and products.
- Work collaboratively with colleagues in other functional areas and across the Group, share knowledge by participating in line of business monitoring and business development activities.
- Assist in projects related to the development and implementation of underwriting strategy for Property lines.
- Maintain underwriting responsibility for assigned accounts
- 7+ years of re(insurance) experience with 5+ years underwriting experience preferred
- Bachelor’s degree in Business, Actuarial Science, Mathematics, Economics or related field or equivalent work experience required; Advanced degree, CPCU, Are, FCAS/ACAS designations preferred;
- Standard level of underwriting knowledge of applicable Property Lines of Business;
- Understanding of accounting, finance and actuarial concepts with demonstrated competency using pricing tools;
- Strong interpersonal and social skills as well as solid negotiation, communication and presentation skills;
- Ability to think creatively and show flexibility handling multiple projects;
- Effective time management skills;
- Excellent computer skills (MS 365 suite with an emphasis in Excel);
- Team player with an ability to interact with varying personality types;
- Ability to provide significant contributions in the completion of departmental projects;
- Primary insurance experience and knowledge of non-traditional products a plus;
- Willingness to travel for audits and client and broker visits (approx. 25% of time)
The Company is open to considering candidates in NYC. The salary range posted below applies to the Company’s NYC location.
The base salary range anticipated for this position is $146,600 - $215,100 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 displayed represents the typical salary range for candidates hired in this position in NYC. 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. Most candidates will start in the bottom half of the range.
At Munich Re, we see Diversity 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.