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Underwriting Careers at Industry Leaders

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Public Entity Underwriter, Property

Munich Re

Munich Re

Marketing & Communications
Chicago, IL, USA
Posted on Friday, June 7, 2024

Public Entity Underwriter, Property

Company
Munich Re America
Location
Chicago , United States

Public Entity Underwriter, Property

The Company is open to considering candidates in Princeton, Philadelphia, Chicago, Atlanta or New York City.

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

Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.

Future focused and always one step ahead

The Opportunity

This position is responsible to effectively produce, underwrite and manage Property accounts to maximize long-term profitability. Manage profitable book of business and various production sources relationships.

Responsibilities:

  • Produce, underwrite and service Property accounts within the Public Entity Risk Solutions (PERS) portfolio.

  • Establish, execute, and coordinate production strategies across PERS to maximize profitable growth.

  • Develop and maintain relationships with Retail and Wholesale broking community within national territory.

  • Market for PERS business through conferences, client events and prospect visits in support of the PERS Property Strategy.

  • Underwrite accounts within authority:

    • Maintain compliance with Corporate and Divisional underwriting guidelines;

    • Maintain an in-depth knowledge of all tools and models used in the underwriting process; and

    • Possess a clear understanding of our underwriting and pricing guidelines to ensure appropriate risk-reward decision-making.

  • Collaborate on projects, marketing efforts, and other tasks as assigned.

  • Be a team player in support of all PERS and MRSI objectives

  • Contributes to profitable underwriting results of book commensurate with the volume of accounts handled.

Job Requirements:

  • 7+ years of insurance and/or reinsurance underwriting experience.

  • Excellent underwriting, marketing and organizational skills.

  • Excellent presentation and negotiation skills regarding complex agreements with senior management of production sources and clients.

  • Effective time management skills.

  • Superior communication skills including ability to explain complex transaction structures to both technical and non-technical audiences.

  • Willingness to travel – 25%

The Company is open to considering candidates in Princeton, Philadelphia, Chicago, Atlanta or New York City. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $150,300 - $220,400 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, 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.