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Underwriter
This position is responsible for underwriting and managing a cargo book of business within MSIG UK, operating within delegated authority to deliver accurate, disciplined and commercially sound underwriting decisions.
Working under broad supervision and in close collaboration with Senior Underwriters and the Underwriting Senior Leadership Team, the role will contribute to the execution of MSIG UK’s underwriting strategy and the development of a high quality, profitable portfolio.
The candidate should be a proactive self-starter who is comfortable managing high workloads during busy periods and able to follow through on instructions effectively to meet deadlines. They should be capable of balancing competing priorities, adapting to changing demands, and maintaining an organised approach under pressure.
The candidate should demonstrate sound knowledge and understanding of cargo insurance, including Stock throughput. Knowledge of other lines of marine business would also be considered an advantage.
Responsibilities
- Ensures the effective delivery of client portfolio strategies and business plans
- Work with Senior Underwriters and Underwriting SLT to generate and manage client relationships
- Reviews applications and financial requirements for risks requiring technical underwriting skills
- Determines acceptability of risk in accordance with company guidelines and standards
- Recommends appropriate pricing and coverage modifications or enhancements for risks after completing analysis and consideration of application documentation, business factors and competitive situations
- Prepares quotations and answers questions from Brokers, internal and external stakeholders, and escalates issues as necessary
- Prepares written communications on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations. Where appropriate, verbally notifies Brokers of decisions in order to ensure clear understanding of the decision
- Analyses quality, quantity, and profitability of risks underwritten and prepares reports for management review.
- Assist in marketing products and services through the brokerage community and make field visits
- Develop and maintain positive Broker relationships
- Maintains current knowledge on state/territory issues, regulations and trends
- Manage the location/market so that is complies with relevant risk, regulatory and legal requirements and so that it complies with Group policies.
- Works with Senior Underwriter and Underwriting SLT on risks exceeding authority level or requiring specialist handling
- Represent MSIG UK at corporate networking events, ensuring MSIG UK values and behaviours are upheld at all times
- Develop proficiency in all relevant MSIG UK systems
- May perform additional duties as assigned
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Required Skills And Qualifications
- Good business and commercial market awareness
- Strong networking skills
- Experience contributing to and delivering a clear underwriting strategy
- Developing technical expertise and negotiation skills
- Strong interpersonal skills and communication skills
- Ability to effectively interact with peer level MSIG UK internal and external stakeholders
- Ability to work independently
- Strong analytical and problem solving skills
- Sound financial and commercial acumen
- General computer literacy (Microsoft Suite – Excel, Word, PowerPoint etc.)
- Keen interest in self-professional development. Candidate would need to be CII qualified or studying towards, as well evidencing ownership of their development by regularly attending training events.
What You Can Expect From Us
- Competitive base salary
- A great team and supportive colleagues
- Hybrid Working environment
- A strong focus on diversity, inclusion and equal opportunities
- A programme of wellbeing and mental health support
- Holiday: 28 days core annual leave
- Pension: 12.5% non-contributory pension contribution
- Private Medical Insurance (family members/dependents can be added)
- Flex Fund: £1,000 (to spend on flexible benefits, including, but not limited to, Dental Care, Holiday Buy, Private GP etc.)
- Life Assurance: 5x annualised base salary
- Continuous Learning Approach: Including study support with professional qualifications.
- Employer Supported Volunteering: 3 days volunteering leave - full pay.
About MSIG UK
MSIG UK is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company, Ltd (“MSI”) and specialises in providing commercial property, casualty, marine and credit insurance products and services to its clients. MSIG UK is also a member of MS & AD Insurance Group Holdings, Inc, one of the world’s largest general insurers.
In February 2024, we celebrated 100 years of MSI’s presence in the UK, and our enduring commitment to our UK based insurance and reinsurance clients. As part of this centenary, we rebranded from MSI EU to MSIG UK. This change aligns our UK business with the rest of our parent company’s international network and better leverages the brand value of the MSI name.
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Being part of MSI’s international network of companies gives us significant opportunities to help develop and deliver new solutions for clients. The change in trading name also signals a new growth phase for us as we look to build our presence and portfolio in the London Market.
MSIG UK is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
At MSIG UK, we pride ourselves on maintaining a friendly, collaborative, and supportive work environment. Every individual plays a key role in our success by fostering a culture of mutual respect, open communication, and shared achievement. We value integrity, innovation, and a customer-first mindset, ensuring that we deliver high-quality insurance solutions.
Conduct Rules
With The Implementation Of The SM&CR (Senior Managers & Certification Regime), The Financial Services And Markets Act Gave The FCA New Powers To Write Conduct Rules And Apply Them To All Employees Within a Firm. The Conduct Rules Set Basic Standards Of Good Personal Conduct. They Stipulate That You Must
- Act with integrity
- Act with due care, skill and diligence
- Be open and co-operative with the FCA, PRA and other regulators
- Pay due regard to the interests of customers and treat them fairly
- Observe proper standards of market conduct
- Act to deliver good outcomes for retail customers
We are committed to creating a diverse and inclusive employee experience for all. Our values underpin our culture and influences the way we interact with each other, our clients and our partners – One Team, Client Focus, Our People, Integrity, Openness, Kaizen. We welcome applications from anyone and promote equal opportunities for growth and development regardless of race, gender, religion or belief, sexual orientation, age, disability, or socio-economic background.
This role description outlines the key responsibilities for this role. It complies with the Company’s Code of Ethics and Integrity and Security Policies. It is not an exhaustive list and the role holder should be aware that they may be asked to perform additional duties by their line manager as deemed appropriate.
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