Class Underwriter - Conventional Power

ABOUT US

Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Copenhagen, Miami, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website www.chaucergroup.com

Job Profile Summary

Build out and take ownership of all aspects of underwriting and effective profitable portfolio management of Chaucer's Onshore Conventional Power business including developing the business strategy, with emphasis on Onshore Conventional Power to ensure propositions sits alongside and complements existing Renewable Power offering thereby working closely with Head of Renewables & Energy Transition.

Job Description

• Build out Conventional Power business plan and strategy including defining risk appetite, target segments / occupancies / geographies, CAT appetite / strategy

• Formulate pricing methodology as well as develop and implement associated pricing models

• Responsible for managing Conventional Power portfolio always ensuring its profitable and balanced development over time

• Underwrite new and renewal risks and approve endorsements / amendments as required in accordance with the Group, Syndicate and Divisional business plan strategy, underwriting guidelines manual and underwriting authority

• Alongside Divisional Head lead the development of long-term strategy for Conventional Power and related business across all business platforms and Chaucer offices

• Produce and present business plans for agreement by Chaucer underwriting management

• Perform slip and rating analysis and undertake premium monitoring

• Perform PML and aggregation analysis in conjunction with the exposure management team

• Monitor risks written and due for renewal as well as developing list of target accounts

• Monitor & ensure the accuracy and upkeep of all written premium data on Charisma for all risks written within the area of responsibility

• Prepare reports and statistical information as required from time to time

• Assist with the development and enhancement of underwriting systems where applicable, including new and/or enhanced rate/premium benchmarking models

• Develop and maintain relationships with brokers to ensure good flow of new and renewal business that fits strategic appetite, and to enhance Chaucer brand, market profile and reputation

• Develop & maintain relationships with customers to aid business understanding, risk retention and target new business, including travel as required

• Attend market risk presentations and market body meetings as applicable

• Keep up to date with Onshore Conventional Power industry developments to maintain knowledge of technical risk factors

• Liaise with other business areas within Chaucer as required to ensure effective management of the energy account including credit control, compliance, claims, exposure management, internal risk review and actuarial functions

• Maintain supportive relationships across the energy team and around the other Chaucer underwriting divisions, both in London and overseas

• Ensure timely and effective administrative processing and peer review of risks written

• Strive to achieve personal objectives as set out by Divisional Head

Skills & Competencies

• Experience specific to insurance of Onshore Conventional Power

• Experience of negotiating with brokers and liaising with clients

• Underwriting experience specific to the Lloyd's & London Market

• Excel and Word - Intermediate

• Mathematics, data and analytical skills

• Global Macro Economics

• Organised and able to work to tight deadlines and manage multiple priorities

• Able to communicate with different levels and is adaptable

• Resilient and able to work in a pressured environment

• Works as part of a team

Education

• ACII qualified

Why Join Chaucer?

An established market leading Insurer, where over the past 5 years, the Chaucer Group has seen significant and successful growth. In 2019, we wrote $1.4bn of Gross Written Premium, closed 2023 with $2.7bn, and are on track to write well over $3bn in 2024.

This is an exciting time for Chaucer; we have the people, the platforms, the expertise and the relationships to continue our recent success. We will remain focussed on the areas where we can provide the most expertise and value to our brokers and clients.

We offer:

• A flexible hybrid work model that supports individual and team needs.
• A diverse, inclusive culture that values people for who they are.
• Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.