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Job Title: Underwriter – Real Estate
Department: Commercial Property
Location: London
Type: Permanent
About the Role:
This role is required to continue growth within our core Real Estate segment. The candidate should have relevant experience in the UK Real Estate market. The candidate will assist the team in managing our existing book and will also look to seize new business opportunities with our chosen brokers to grow the book.
About the Department & Team:
Commercial Property has achieved significant profitable and sustainable growth over the last 10 years. Now an established market presence with our core Strategic Brokers we are well placed to take advantage of opportunities in our chosen segments of Real Estate, Corporate, Risk Managed and Private Finance Initiatives. With 16 Underwriters we trade with our brokers throughout the United Kingdom from our fully empowered London office.
Key Responsibilities:
Strategy and Planning
- Follow the annual business plan for the Underwriting division and ensure delivery of the plan in accordance with stated risk tolerances.
- Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice.
- Contribute new ideas and concepts to support the development and delivery of the business plan.
- Work cross-functionally with counterparts in other functions (e.g. Claims, Actuarial, Finance, Portfolio Management etc.) to achieve objectives.
Delivery
- Establish and promote relationships with brokers, business partners, reinsurers and colleagues, to maximise influence and achieve business objectives.
- Demonstrate understanding and awareness of market dynamics and market cycles to drive and enhance business performance
- Continually develop expertise and technical knowledge through appropriate development initiatives
- Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including: Negotiating rates, terms and conditions for existing and new business
- Compliance with the production and issue of documentation in accordance with contract certainty requirements
- Contribute and influence in the review and analysis of the portfolio, to identify progress towards business objectives
- Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures
Policy, Process and Procedures
- Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance
- Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk
- Apply any reinsurance requirements in accordance with stated risk tolerances and to deliver against business plan
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules ,Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
Skills and Experience:
- Good knowledge of relevant market conditions for UK & European Real Estate
- Knowledge of legal and regulatory requirements
- Good understanding of class specific underwriting and reinsurance knowledge
- Intermediate/advanced level understanding of relevant software including Excel and other departmental software packages
- Numeracy and literacy skills
- Interpersonal and communication skills
- Analytical skills
- Negotiation skills
- Organisational and prioritisation skills
- Ability to analyse and use data for decision making
- Attention to detail
- Use of risk profiling and pricing tools and loss models
- Knowledge of wordings and legal/appetite/exposure implications
About Liberty Specialty Markets (LSM)
Liberty Specialty is part Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
For more information, please follow the links below:
https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us
https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion
