Property Facultative Underwriter - Energy, Power & Construction We will consider candidates in: New York City, Chicago, Atlanta, Houston or San Francisco We’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. The Company Munich Re US (MR US) offers 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. We address the key challenges of the future – that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow’s world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients’ needs, creating opportunities to achieve sustained profitable growth. The Opportunity Future focused and always one step ahead Apply specialized Engineering (power-gen & renewable energy and or construction, EAR and CAR) and or Energy (down/midstream and specialty chemical) and insurance knowledge to adequately assess the potential exposure to risks underwritten in the Munich Re Facultative & Corporate Property (MRF&C) U.S. Facultative Engineering & Energy Division of Munich Re. Determine the appropriate terms and conditions and to consider risk-sharing acceptances. Manage a portfolio of facultative clients and consider new opportunities. Responsibilities: Key Responsibilities of this position include: Underwrite for the traditional engineering (power-gen, renewable energy and / or construction) and / or energy (down/midstream energy and specialty chemical) classes of business per risk appetite through contacts with cedants and reinsurance brokers. Underwriter charged with the responsibility for accepting engineering and energy allocated business. Perform the underwriting referral function as needed with colleagues and peers in line with established authority for engineering and energy business, as specified and as required in the underwriting guidelines and mandates. Implement use of pricing and layering models in risk assessments. Support and recommend changes to the Engineering & Energy Underwriting Guidelines as needed. Work within the referral audit process with overall adherence to risk selection and pricing techniques developed for MRF&C Engineering & Energy. Develop and support new products and filings to satisfy Client needs by using depth of underwriting background/experience for program development. Negotiate and conclude the offers, terms of contract with reinsurance brokers and cedants and, when necessary and feasible, submit counter proposals. Analyze and evaluate our distribution of limits, attachment points and layers of Engineering and Energy business to maximize profitability potential. Relative to losses: track and monitor on assigned accounts including keeping current on industry loss trends as it relates to Engineering and Energy account portfolio and work with the Claims department as needed on individual claims. Marketing Establish and maintain sound contact with reinsurance brokers and cedants, keeping abreast of market developments and client needs. Provide, in close consultation with the MRF&C Division, Engineering & Energy products and services to maximize business opportunities. Promote MRF&C Engineering & Energy capabilities and competencies. Seminars and Media Participate in appropriate Engineering & Energy industry seminars/workshops as a speaker and/or trainer. Devise, organize and assist in successful delivery of MRF&C Property Engineering & Energy technical seminars. Contribute to technical journals. Participation on Technical Market Committees Ensure appropriate representation on technical insurance market committees, so providing technical input as well as sourcing key market knowledge. Qualifications: 10 years of experience in (re)insurance, broker community and/ or corporate risk market. Mechanical/Chemical/Electrical/Civil Engineer or English, Economics and business (preferably with a bachelor’s degree) or related with a minimum of 5 years practical Power-gen and or Construction and or Energy industry experience preferred. Knowledge of internal processing procedures and systems would be highly beneficial. Negotiation and relationship marketing skills. Excellent verbal/written, language and communication skills. Ability to travel nationally and internationally. The Company is open to considering candidates in numerous locations, including Atlanta, GA, Houston, TX, San Francisco, CA, NYC, New York and Chicago, IL. The base salary range anticipated for this position is $193,100 to $283,100, 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). The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC or San Francisco. 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. At 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. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. J-18808-Ljbffr
