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 #: 1234571096

Description & Requirements

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


About the Role:


Underwrite worldwide business across various professions in accordance with the business plan and within delegated underwriting authority. While this role has an international focus, particularly the US, there may also be some work on UK risks. Knowledge of international business and experience in underwriting A&E, Accountants, D&C, Insurance Brokers, Lawyers, Surveyors and/or Misc accounts is preferred

The focus of the role is international business and experience in large corporate risks and representing LSM and our values in all interactions with clients and brokers and involvement with external market group(s) would be beneficial. The individual will be expected to work closely with key stakeholders to help create new relationships and build out new opportunities across other business to further enhance the success and profitability of the team.


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 and Professional Indemnity strategy document in order to make appropriate decisions
• Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice
• Contribute new ideas and concepts to support the development and delivery of the business plan • Contribute as and when required to the planning process through research and preparation of relevant materials
• Work cross-functionally with counterparts in other functions (e.g. Claims, Actuarial, Finance, Portfolio Management etc.) to achieve objectives

Delivery

• Establish and promote strong relationships with clients, brokers, business partners, reinsurers and colleagues, to maximise influence and achieve business objectives
• Represent Liberty’s interests with internal and external groups, and through participation in industry forums and corporate activity to safeguard or enhance Liberty’s market position
• Demonstrate understanding and awareness of market dynamics and market cycles to support the performance of the underwriting team
• Continually develop expertise and technical knowledge through appropriate development initiatives
• Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including a) Negotiating rates, terms and conditions for existing and new business b) Compliance with the production and issue of documentation in accordance with contract certainty requirements
• Contribute and influence in the review and analysis of the portfolio, to identify new business development opportunities
Ensure entries are properly recorded onto relevant systems in a timely manner whilst 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 our Liberty Values, 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 the Senior Managers and Certification Regime Conduct Rules ,Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing

Skills and Experience:

• Good knowledge of relevant market conditions for Professional Indemnity
• Knowledge of legal and regulatory requirements
• Understanding of class specific underwriting and reinsurance knowledge
• Strong level of numeracy and literacy skills
• Strong interpersonal and communication skills
• Strong negotiation skills
• Strong organisational and prioritisation skills
• Ability to analyse and use data for decision making
• Strong attention to detail
• Degree or equivalent qualification desired – e.g. ACII
• Experience gained within the insurance industry

About Liberty Specialty Markets (LSM)


Liberty Specialty Markets is part of 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