Senior Underwriter, Specialty, F&C

2 weeks ago


Sydney, New South Wales, Australia Munich Re Full time
Great Lakes Australia (GLA) is the Australian branch of Great Lakes Insurance SE (GLISE) and is a wholly owned subsidiary of the Munich Reinsurance Company.

GLA is authorised by the Australian Prudential Regulation Authority (APRA) to operate as a general insurer in Australia, and is used to facilitate the Corporate Portfolio in Australia.

Writing under the Great Lakes Australia License the Corporate team underwrite XOL casualty lines for corporate clients. All business is intermediated via appointed brokers.

The Australian portfolio forms part of the broader F&C portfolio globally from a result responsibility.

Your Role
  • Underwrite in accordance with the agreed Business Plan/Underwriting Guidelines and within the job-holders designated underwriting authority
  • Build good working relationships with brokers and clients
  • Identify and develop opportunities for new business
  • Contribute to the technical development and knowledge within the Specialty team
  • Provide underwriting support to other Corporate hubs
  • Develop and underwrite within the agreed strategy, financial and executive lines products large and complex financial institutions and corporate clients
  • Represent Munich Re Corporate as reasonably required at internal and external meetings and on internal and external committees. This extends to include making presentations, attending client and industry dinners etc. and related reasonable travel
  • Ensure broker/client satisfaction through the provision of prompt and professional service on insurance and risk matters
  • In collaboration with line management, assist in the:
  • shaping of underwriting strategy to ensure profitability of the underlying business
  • development and evaluation of new business and new product opportunities
    Your Profile
    • Economic, legal or finance background preferred
    • Strong technical competency in Financial Institution and Corporate business
    • Knowledge of the legal environment for the classes in the key jurisdictions
    • Understanding of policy wordings, including the ability to draft endorsements
    • Appropriate experience in underwriting or broking Financial Lines business in the Australian market
    • Good negotiation and influencing skills
    • Established record of delivery of Financial Lines technical expertise and innovation
    • Knowledge of commercial PI
    • Willingness to travel as required


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