Senior Casualty Treaty Underwriter
\nWe’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.
\n \nThe Company
\n \nAs 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.
\n \nThe Opportunity
\nFuture focused and always one step ahead.
\n \nThe Senior Treaty Casualty Underwriter will underwrite, price and support a portfolio of new and renewal Casualty treaty reinsurance business in accordance with Munich Re US guidelines, strategy and profitability standards. The underwriter is responsible for risk analysis and assessment, coverage evaluation, pricing, and assisting in contract negotiations in order to maintain and develop a profitable portfolio of Casualty assumed reinsurance business.
\n \nResponsibilities
\n \n• The Senior Casualty Treaty Underwriter will underwrite, price and support a portfolio of new and renewal General Casualty treaty reinsurance business in accordance with Munich Re US guidelines, strategy and profitability standards.
\n• This role is responsible for risk analysis and assessment, coverage evaluation, pricing, and contract negotiations in order to maintain and develop a profitable portfolio of Casualty assumed reinsurance business.
\n• Underwrite and price Casualty treaty reinsurance business in accordance with the Division’s Casualty Strategy and in compliance with corporate and divisional guidelines and best practices independently and also supervise of junior underwriters. Strong understanding of all main Commercial and Personal Casualty lines, such as AL, GL, and Umbrella, as well as good understanding of niche products such as EIL, Life Science, Recall etc.
\n• Strong understanding of various reinsurance structures and their impact on profitability and volatility estimates.
\n• Cooperates with management and senior executives when dealing with complex issues, larger clients, accounts, projects, analyses, or internal relationships.
\n• Underwrite new and renewal treaty business in accordance with delegated underwriting authority, including all tasks associated with risk and coverage analysis and pricing, monitoring of account results, and provide recommendations for proposed terms and conditions, both independently and in close cooperation with management. Negotiate contract terms and wording with clients and brokers.
\n• Complete underwriting audits of clients and prospects in order to provide credible evaluations of the quality of their books of business. Have close contact and dialogue with Casualty brokers and/or insurance companies.
\n• Attend industry conferences, seminars, expert panels, and other marketing events.
\n• Lead projects related to the development and implementation of underwriting processes and strategies for Casualty lines. Provide input on or develop client strategies, where applicable.
\n• Develop proficiency in the use of Munich Re pricing models and other risk evaluation tools; including enhancing technical product and underwriting expertise with respect to both the primary and re-insurance market and products.
\n• Have strong market presence being active in industry organizations and participating in broker and client marketing efforts.
\n• 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.
\n• Function as subject matter expert for the broader Casualty Treaty team.
\n \nQualifications
\n \n• 15+ years of primary insurance and/or reinsurance company experience;
\n• Underwriting knowledge of Casualty Treaty and niche classes; including actuarial concepts, industry trends, accounting and legal a plus.
\n• Experience in primary and/or reinsurance General Liability, Umbrella, Auto, Excess Liability, Professional Liability, or Other specialty underwriting a plus.
\n• Strong interpersonal and social skills; team player.
\n• Strong negotiation, oral and written communication skills; Excellent presentation skills;
\n• Ability to think creatively and show flexibility handling multiple projects;
\n• Effective time management skills;
\n• Excellent computer skills; proficiency in MS 365;
\n• Willingness to travel for audits and client and broker visits (approx. 25% of time);
\n• CPCU, ARe, FCAS / ACAS designations a plus;
\n• BS / BA required, advanced degree such as MS/MBA or other quantitative field a plus
\n \nThe Company is open to considering candidates in our New York City and Princeton, NJ location. The salary range posted below applies to the Company’s Princeton location.
\n \nThe base salary range anticipated for this position is $237,100 - $347,700 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).
\n \nThe salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. 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.
\n \nWe are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:
\n• Two options for your health insurance plan (PPO or High Deductible).
\n• Prescription drug coverage (included in your health insurance plan).
\n• Vision and dental insurance plans.
\n• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
\n• Short and Long Term Disability coverage.
\n• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
\n• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).
\n \nIn addition to the above insurance offerings, our employees also enjoy:
\n• A robust 401k plan with up to a 5% employer match
\n• A retirement savings plan that is 100% company funded.
\n• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
\n• Eligibility to receive a yearly bonus as a Munich Re employee.
\n• A variety of health and wellness programs provided at no cost.
\n• Paid time off for eligible family care needs.
\n• Tuition assistance and educational achievement bonuses.
\n• A corporate matching gifts program that further enhances your charitable donation.
\n• Paid time off to volunteer in your community.
\n \nAt 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.
\n \nWe are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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