Job Title: Underwriter - Reinsurance
Location: Sydney
Position type: Full time, permanent
Our Underwriters are at the heart of everything we do, without them our business wouldn’t function.
The Underwriter is a key member of the underwriting team and will assist in delivering on our local and regional vision and strategy, in line with the MS Amlin Asia Pacific (MS AAP) strategy and business plan.
As an Underwriter, you will support the underwriting of treaty reinsurance risks, with a focus on delivering profitable growth and portfolio management. You will provide pricing analysis of the portfolio and be encouraged to look and further develop new opportunities, learning to provide and articulate their business case for underwriting decisions.
The portfolio consists of Property and Casualty reinsurance and the role holder will be responsible for underwriting the portfolio as part of a team.
About The Job
What you’ll spend your time doing:
Underwriting
Generate and manage business on a client relationship basis for specific portfolio and product groups and platforms within MS AAP Reinsurance.
Ensure risks are written within the agreed parameters – making sound, profitable long term decisions on risks that are written with a focus on smart rationale underwriting.
Alignment to and delivery of tactical client intimacy initiatives within the portfolio(s), markets and product forum.
Undertake analysis of the portfolio to identify business opportunities, products and clients, ensuring a robust business case.
Seek out and grow opportunities with new clients.
Provide input and devise strategic direction in portfolio development
Provide input for Business Planning processes as well as quarterly reserving duties, including analysis on technical adequacy of business.
Ensure client intimacy is achieved through the efficient oversight of issues raised including liaison to ensure effective conclusion to complaints and claims.
Undertake sound market analysis and target potential new clients, brokers and products
Understand and negotiate reinsurance wordings in line with corporate standards
Maintain and build effective relationships with existing and new clients through regular contact, demonstrating a clear understanding of their business and how we add value.
Maintain strong, effective relationships with existing brokers, where appropriate seeking out new opportunities with existing and new brokers.
Effectively represent self and class in external activities, groups and committees
Compliance and Risk Management
Conduct role in accordance with the Company’s Business Ethics policy and all regulated entities as appropriate.
Manage the location/market so that is complies with relevant risk, regulatory and legal requirements and so that it complies with Group policies.
Management Information
Play an active role in the regular underwriting management meetings
Ensure the risk entry system is maintained
Ensure the rating guide is maintained
Produce appropriate and accurate class reports as necessary
Analyse quarterly figures and produce necessary projections to identify reserving necessary
Review underwriting figures on a regular basis in order that unusual trends and / or adverse movements may be dealt with by appropriate action
Remain alert to developments affecting the business of the service companies, the potential profitability and opportunities for them, and to report on such matters, as appropriate, to the management team
Monitoring
Review all risks, quotes, endorsements and declarations of own and delegated work
Act as a peer reviewer on all risks and material endorsement underwritten as necessary
Check renewals regularly and review by exception
Monitor premium payments
Review underwriting figures on a regular basis in order that unusual trends and / or adverse movements may be dealt with by appropriate action
Remain alert to developments affecting the business of the class, the potential profitability of the class and opportunities for the class, and to report on such matters, as appropriate, to the Lead Underwriter
What you’ll need:
Relevant experience in treaty underwriting, reinsurance broking, or technical reinsurance support.
A desire to work within a small and growing local team, supported by a broad regional and global team.
Experience of underwriting or broking within property or casualty classes. Knowledge of both desirable.
Degree level education
A good understanding of reinsurance concepts, pricing principles, and treaty structures.
Proven ability to evaluate risks
Ability to show potential of developing successful new and existing business and relationships
Demonstrate good understanding of the insurance and client markets, with the ability to identify new opportunities
Proven experience of successfully adapting knowledge to meet client needs with commercial acumen
Good evaluation and analytical ability
Attention to detail
Effective and strong negotiation skills
Sound judgement and decision making skills
A willingness to travel domestically and internationally at times for both internal and client engagements
What you can expect from us:
A competitive salary and benefits package is a given, but you can also expect:
Comprehensive learning and development support (including study sponsorship).
A great team and supportive colleagues
An open mind (especially new ideas and ways of doing things)
A strong focus on diversity, inclusion and equal opportunities
A programme of wellbeing and mental health support
Employer-supported volunteering (ESV)
Flexible working
Continuous learning
Structured career development
About MS Amlin
MS Amlin is part of a global top-10 insurance group, MS&AD. We’re made up of four distinct businesses covering global reinsurance, Lloyds franchise, local specialty insurer, and business services.
#LI-MSAUL