Facultative Property Energy & Construction Underwriter

Facultative Property Engineering & Construction Underwriter
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. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re's US operations, we offer 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.

Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. We believe that  by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

The Opportunity
Future focused and always one step ahead!

The Engineering & Energy business units of Munich Re F&C (Facultative & Corporate) provide custom-made insurance solutions to the power, energy and construction industries. The team is a recognized market leader in these classes of business.

For the Munich Re F&C (MRF&C) North America Corporate Engineering & Energy team, we are looking for a qualified Facultative Engineering & Construction Underwriter. The underwriter is to be based in either New York or Chicago.

In this role you will underwrite and manage a growing pipeline of construction and engineering risk accounts within the Property Facultative US Division of Munich Re Facultative and Corporate, and contribute to its overall profitability. You will apply specialized underwriting risk analysis skills and insurance knowledge to adequately assess and price the potential exposures to Construction and Engineering Risks underwritten in the unit. You will determine the commensurate terms and conditions applicable and consider risk-sharing acceptances.

Responsibilities:

• Develop and maintain strong market presence by developing client and broker strategies.
• Develop new business opportunities and promote Munich Re Group’s capabilities and competencies externally.
• Establish and maintain sound contact with clients and brokers, keeping abreast of market and industry developments and client needs.
• Promote MR F&C Engineering & Energy capabilities and competencies.
• Produce and underwrite a variety of civil, energy and power construction projects through contacts with brokers and cedants in line with MR F&C risk appetite.
• Produce and underwrite Engineering (Power-Gen & Construction) business in line with MR F&C risk appetite.
• Negotiate and conclude the offers, terms of contract with Cedants/Brokers and, when necessary and feasible, submit counter proposals.
• Use the given pricing and layering models
• Review policy forms for compliance with MRF&C guidelines, strategies and best practices developed for MR F&C Engineering & Energy and provide solutions where practical.
• Relative to losses: track and monitor losses and keep up to date on industry loss trends. Work with the Claims department as needed.
• Participate in appropriate energy and engineering-industry seminars/workshops to elevate Munich Re’s brand.

Qualifications:

Successful candidates will possess the following skills and capabilities:
• Mechanical/Chemical/Electrical/Civil Engineer (preferably with a bachelor's degree) preferred, with a minimum 5 years engineering (re)insurance experience.
• Negotiation, Relationship Management and Marketing skills
• Strong computer skills.
• Excellent verbal/written language and communication skills.
• Ability to travel nationally and internationally.
• Ability to work cross-functionally and cross-culturally to collaborate with Loss Control Engineering, Claims, Underwriting Analysts, and teams in London, Munich and globally.

The Company is open to considering candidates in numerous locations, including Chicago, IL and New York City (NYC). The salary range posted below applies to the Company’s Chicago location. The offer will be adjusted per geography.

The base salary range anticipated for this position is $138,400 - $203,000 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 Chicago. 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.
We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:
• Two options for your health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:
• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that is 100% company funded.
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

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.