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Property Facultative Underwriter

Shape Your Future With Us

General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. It owns General Reinsurance Corporation and General Reinsurance AG, which conduct business as Gen Re.

Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of more than 40 offices, we have earned superior financial strength ratings from each of the major rating agencies.

General Reinsurance, London Branch (a subsidiary of General Reinsurance AG) is offering an excellent opportunity for a Property Facultative Underwriter in our London Office.

Your Role

The role would suit a suit an energetic, forward-thinking, team player with experience in property insurance/reinsurance. The ideal candidate will enjoy working in collaborative teams with the ability to develop leadership qualities. With excellent communication and interpersonal skills, the candidate will thrive in the environment of client interaction.

This position offers the opportunity to work within a highly experienced team with a large portfolio of clients. The successful candidate will be empowered to make underwriting decisions with considerable underwriting authority and corresponding responsibility and accountability.

The role holder will be responsible for marketing, sourcing new business, handling of accounts, underwriting and transacting facultative business.

This position offers a continuing variety of tasks; underwriting authority, developing specialised expertise in a line of business, class of business, or with a specific client. The role holder will be the principal relationship manager for designated clients and will negotiate the transfer of risk, pricing and terms directly with the client.

Responsibilities

Underwriting

  • Contribute to the department goal of growing a profitable portfolio of property excess of loss business
  • Underwrite and price individual risk and programme facultative reinsurance, with adherence to departmental underwriting philosophy, rules and guidelines, use of rating tools and pricing methodologies and documentation standards
  • Understand market pricing and market terms and conditions
  • Demonstrate a deep knowledge of:
    • Contracts and policy forms
    • Pricing structures
    • Terms and conditions
    • Topical underwriting issues
  • Directly communicate/negotiate terms and conditions with clients

Client Account management

  • Develop and maintain relationships with clients at the underwriting and management level
  • Understand treaty structures and facultative reinsurance buying patterns
  • Provide reinsurance solutions meeting clients’ needs whilst not compromising technical pricing or exceeding capacity guidelines
  • Assume responsibility for assigned client relationship, including development and implementation of marketing plans
  • Actively seek new business opportunities within existing relationships and within the wider insurance market
  • Demonstrate awareness of broader industry issues and trends

Teamwork

  • As appropriate, seek out/provide a quality second head on facultative risk transactions
  • Ensure teamwork within client, branch, cross-branch, cross-unit or project teams by contributing to a positive, supportive and disciplined environment
  • Participating in and contribute to training and coaching initiatives;
  • Continuously improve own skills;
  • Accepting responsibility and accountability;
  • Demonstrating a positive attitude and strong value system (e.g. integrity, trustworthiness, respectful);
  • Demonstrating a strong work ethic and a sense of urgency.

Running the Business

  • Participating in branch planning in support of department goals;
  • Understanding and utilize diagnostic reports and provide insights to colleagues;
  • Demonstrating organizational efficiency and time management skills;
  • Ongoing information sharing and interaction with property facultative colleagues and other corporate departments;
  • Adhere to established processing protocols;
  • Endeavouring to continuously improve departmental processes;
  • Coordinating, participating in and leading various special projects for the branch.

Your Profile

  • Experience in property insurance underwriting or London Market property business is essential
  • Strong verbal and written communications skills
  • Interpersonal skills/critical thinking skills
  • Organized, attentive to detail and superior multi-tasking skills
  • Ability to extract and manipulate data proficiently
  • High degree of energy/tenacity
  • Willingness to learn
  • Capacity to work remotely

Does this sound exciting?

Please submit your CV together with details of your salary expectations and in your cover letter please let us know what interests you about the role and why you think you would be right for the position. Submissions should be sent to Human Resources: careerslondon@genre.com, please put “Property Fac Underwriter” in the title of the email.

Closing date: 19 April 2021

Please note only successful applicants will be contacted.

Contact

Human Resources
careerslondon@genre.com

Our Address

London Branch
Corn Exchange
55 Mark Lane
London, EC3R 7NE (UK)

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