Role: Underwriter - Reinsurance
Location: Singapore
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 to deliver on the 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 under the direction of Senior Underwriters. Whilst supporting the senior underwriters with providing critical and pricing analysis of the portfolio, this role also encourages the underwriter to look and further develop new opportunities, learning to provide and articulate their business case for their underwriting decisions.
The portfolio primarily consists of Property Cat XL, Risk XL and Proportional business, the role holder will be responsible for underwriting the portfolio as part of a team led by the lead property underwriter of the 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.
- Where appropriate, 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
- 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.
- Experience of underwriting within property class, experience of other classes desirable
- Diploma level or fully ACII qualified (or working towards this)
- Degree level education
- A good understanding of reinsurance concepts, pricing principles, and treaty structures.
- Proven ability to evaluate risks and make sound commercial decisions on writing them
- 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
What you can expect from us:
A competitive salary and benefits package is a given, but you can also expect:
- A structured career path with clear progression into a full Treaty Underwriter role.
- Comprehensive learning and development support (including study sponsorship).
- A great team and supportive colleagues
- An open mind (especially to 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.
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