Department Description

About Great Lakes Insurance SE: As specialty provider of primary insurance services in the UK, Great Lakes Insurance SE, UK Branch is a substantial part of our parent, Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE currently operates from its Head Quarter in Munich, and via branch offices in UK, Switzerland, Italy and Australia. In the UK, Great Lakes is currently undergoing the authorisation process from the Prudential Regulatory Authority and Financial Conduct Authority for a Third Country Branch and a Subsidiary. These two entities will secure our future in the primary insurance service market in a post-Brexit world, by allowing us to continue writing our existing business.

YOUR JOB

About the role: Underwriting Cyber Insurance business for large and/or complex industrial accounts in accordance with Munich Re guidelines and the Cyber Solutions London Market strategy, including assisting with risk assessment and analysis, coverage evaluation, pricing and contract negotiations and account administration. You will be reporting into the Underwriting Manager.

Responsibilities:

• Acquire and underwriting cyber and technology insurance risks for large industrial and corporate clients, including all tasks associated with risk and coverage analysis such as pricing and contract negotiations, following Munich Re guideline
• Further develop a portfolio of profitable cyber-related business and seizing new business opportunities by managing broker and client relationships
• Attend client and market-wide cyber meetings, and discussing and evaluating clients’ individual cyber exposure
• Promote F&C and Munich Re’s cyber capabilities in client and broker meetings, conferences and market events and establishing Munich Re as a reliable, responsible and knowledgeable partner
• Collaborate with other F&C Cyber teams in Munich and the US to execute the single global F&C Cyber Solution strategy
• Work within a close-knit network of cyber experts in Munich Re and participating in challenging global projects with other Cyber teams and central interfaces.

YOUR PROFILE

Skills & Experience:

• Maintaining relationships with clients, brokers and company partners
• Collaborative and team minded attitude, ability to work in team and on your own.
• Make decisions based on logic, risk and commercial aspects, solution based work approach
• High level of commitment
• Accuracy and Diligence
• Self-motivation and Self development.

Qualifications and Educational Requirements:

• University degree in IT security or computer sciences, other technical degree or university degree, economics, law, or other, IT-security certifications, e.g. CISSP, or similar
• Alternatively experience in the London market or other insurance markets underwriting or broking cyber, liability or property insurance for large industry risks

Company text extern Regulatory & Conduct Requirements:

Over the coming years, the branch will transition to a third country branch to continue to operate post Brexit. Therefore, in addition to the responsibilities set out above, the Underwriter role/function will also become responsible for:

• Ensure compliance with Insurance Distribution Directive
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers contributory pension of 10%

About Us

Here at Munich Re we want to offer our staff the opportunity to grow in an exciting and diverse working environment. We believe that your ability to apply your outstanding knowledge crafts the future; the future of our clients, of Munich Re and of course your own. Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.