Underwriting Careers at Industry Leaders

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Property Underwriter

Munich Re

Munich Re

Marketing & Communications
San Francisco, CA, USA
Posted on Friday, November 10, 2023

Property Underwriter

Munich Re America
San Francisco , United States

We will consider candidates in New York City or San Francisco.


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.


The Company

As a member of Munich Re's US operations, we offer 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.


Munich Re Facultative and Corporate (MR F&C) was recently created to bundle Munich Re’s facultative and corporate business into one global unit. We believe that  by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.


The Opportunity


Future focused and always one step ahead


With this opportunity, your primary responsibility will be underwriting corporate property programs (focusing on large commercial and multi-national corporate clients) in the US.  You will develop and determine the commensurate terms and conditions applicable and consider risk-sharing acceptances. You will also assist the head of the Unit to oversee the NA Property portfolio to ensure profitability, assist Claims to validate, and then optimize claims payments, and provide expertise to both internal and external clients.


Your Job:


  • Independently underwrite and price moderate to highly complex business in accordance with corporate, divisional and department guidelines and philosophy.
  • Underwrite new and renewal business in accordance with underwriting authority, including all tasks associated with information and data gathering, data manipulation, risk and coverage analysis, pricing, and deal negotiations.
  • Review primary policy, contract and endorsement wording and ensure accuracy and conformance with guidelines
  • Refer all business outside of delegated underwriting authority to appropriate referral underwriter.
  • Assess and analyze required risk information.
  • Maintain complete and accurate business records.
  • Assist management in the assessment of the portfolio to ensure profitability.
  • Collaborate with Claims.
  • Assist management as needed in fulfilling all managerial duties.



Client Relationship Management:

  • Develop and maintain strong market presence by developing client and broker strategies.
  • Proven ability to interact effectively with clients, brokers and colleagues
  • Proactively identify and analyze the needs of existing and potential clients.
  • Promote the Group’s capabilities and competencies externally.


  • Independently negotiate (re)insurance contracts with clients and brokers based on delegated authority.

Peer Reviews:

  • Participate in peer reviews of team members’ accounts.


Qualifications :


Successful candidates will possess the following skills/capabilities: 


  • 7+ years of experience in (re)insurance, broker community and/ or corporate risk market
  • 5 + years of underwriting experience preferred
  • Bachelor’s Degree preferred; advanced degree a plus
  • CPCU, Are designations desirable
  • Professional designations a plus
  • Proficiency in the use of pricing models, tools and other risk evaluation models
  • Excellent written and oral communication skills
  • Ability to manage Client relationships and maintain profitable relationships
  • Demonstrated negotiation skills
  • Ability to travel nationally and internationally (up to 25%)


The Company is open to considering candidates in NYC and San Francisco. The salary range posted below applies to the Company’s NYC and San Francisco locations.


The base salary range anticipated for this position is $146,600 to 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 US, 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.