Job Title: Underwriter – Political & Financial Risk
Location: London / hybrid
Salary Range: £100,000 - £130,000
Reporting to: Senior Underwriting Leadership
Overview:
An established specialist insurance business is looking to appoint an experienced Political & Financial Risk Underwriter to support the continued growth of its portfolio. This is a broad and technically demanding role spanning banking, finance, trade, commodities, foreign direct investment and other real-economy activities.
The role offers the opportunity to take ownership of a portfolio, develop underwriting strategy and build long-term relationships with brokers, insureds and reinsurers, while maintaining strong underwriting discipline. The position would also suit an experienced Broker or Credit Analyst looking to transition into an underwriting career.
Key Responsibilities:
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Underwrite Political & Financial Risk business within delegated authority and established underwriting guidelines, referring risks where appropriate.
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Support delivery of the agreed business plan, including business mix, premium income and underwriting performance objectives.
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Analyse and evaluate Political & Financial Risk opportunities, making recommendations on risk selection, benchmarking and pricing.
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Prepare detailed political and credit risk analysis to support underwriting decisions.
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Negotiate insurance policy wordings with brokers and other distribution partners, including reviewing associated facility documentation and transaction structures.
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Monitor the existing portfolio and contribute to reporting and analysis relating to underwriting strategy, exposure management and reinsurance.
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Build and maintain strong relationships with insureds, brokers, distribution partners and reinsurers, including business travel where appropriate.
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Ensure underwriting and exposure information is accurately and promptly recorded on relevant systems.
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Work closely with Claims colleagues on complex or distressed risks, restructuring proposals and workout situations.
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Maintain a strong understanding of current affairs, changing geopolitical environments, sovereign and credit risk, lending structures and international financial frameworks.
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Ensure full compliance with applicable laws, regulations, sanctions, policies, procedures and underwriting controls.
What We're Looking For:
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Strong experience and technical knowledge of the Political & Financial Risk insurance market.
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Detailed understanding of PFR policy wordings, coverage, pricing, premium rates and key risk factors.
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Experience managing and taking ownership of a book of Political & Financial Risk business.
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Strong analytical and technical underwriting skills across a traditional PFR portfolio.
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Good understanding of sovereign and credit risk, transaction structures, lending security and emerging-market environments.
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Ability to assess complex transactions and understand potential claims, restructuring and workout scenarios.
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Proactive, commercially minded and entrepreneurial approach.
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Strong communication and presentation skills, with the ability to establish and maintain long-term relationships with key stakeholders.
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Ability to work effectively both independently and collaboratively.
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Strong organisation, planning and prioritisation skills.
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Proficiency with underwriting systems, processes and procedures.
Desirable but Not Essential:
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ACII qualification or equivalent professional insurance qualification.
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Experience as a Political & Financial Risk Broker or Credit Analyst with an interest in moving into underwriting.
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Existing relationships with relevant brokers, clients or other market participants.
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Experience across multiple PFR product types and complex emerging-market transactions.