General information

City: London, UK
Country: United Kingdom of Great Britain and Northern Ireland
Creation Date: 06-Sep-2024
Employment Type: Permanent
Employment Type: Full time
Ref #: 1234571105

Description & Requirements

Role Title: Assistant Underwriter
Department: Fin Pro
Team: Professional Indemnity – Large Corporate & International
Location: London
Type: Permanent


About the Role:


The role is in providing underwriting support to the team involved in the large corporate and international risks in accordance with the business plan. The candidate will have the opportunity to develop their own underwriting capability and to ultimately underwrite their own business within the appropriate delegated underwriting authority.


About the Department & Team:


Professional Indemnity is a mature class of business at LSM having been in the market for over 40+ years. Our underwriters provide over 100+ years of combined professional indemnity experience and offer a broad range of products across multiple jurisdictions.
The team has been profitable over recent years and is a Green Class allowing for growth. It is now a significant business within LSM with a structure that supports its growth aspirations.


Key Responsibilities:


Strategy and Planning

• Follow the annual business plan for the Underwriting division in order to make appropriate decisions
• Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice
• Contribute as and when required to the planning process through research and preparation of relevant materials

Delivery

• Maintain relationships with customers, brokers, business partners, reinsurers and colleagues to maximise influence and achieve business objectives
• Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team
• Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including:

• Support the review and analysis of the portfolio, to identify progress towards business objectives
• Process entries, as required, onto relevant systems in a timely manner 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
• 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 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 Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience:

• 
  A level of understanding of Professional Indemnity Insurance
• Build understanding of relevant market conditions for specific class/portfolio
• Develop knowledge of legal and regulatory requirements
• Become proficient in the knowledge and use of underwriting systems, process and procedure
• Intermediate level understanding of relevant software including Excel and other departmental software packages
• A high level of numeracy and literacy skills
• Good interpersonal and communication skills
• Strong organisational and prioritisation skills
• Good attention to detail
• Experience gained within the insurance industry
• Intent or progress towards relevant insurance qualification

About Liberty Specialty Markets (LSM)


Liberty Specialty Markets 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