Senior Casualty Treaty Underwriter

Munich Re • Princeton, NJ

5d • $237,100 - $347,700

About The Position

Munich Re is seeking a Senior Casualty Treaty Underwriter to underwrite, price, and support a portfolio of new and renewal casualty treaty reinsurance business in accordance with company guidelines, strategy, and profitability standards. The role includes assessing risks and coverage, pricing business, negotiating contracts, and helping maintain and develop a profitable portfolio. The underwriter will work independently and with management, supervise junior underwriters, serve as a subject matter expert for the broader Casualty Treaty team, and lead projects related to underwriting processes and strategies. The position may be based in New York City or Princeton, New Jersey; the posted salary range applies to Princeton. Travel for audits and client and broker visits is approximately 25% of the time.

Requirements

• 15 or more years of primary insurance and/or reinsurance company experience.
• Underwriting knowledge of casualty treaty and niche classes.
• Strong interpersonal and social skills, with the ability to work as a team player.
• Strong negotiation, oral and written communication, and presentation skills.
• Ability to think creatively and handle multiple projects flexibly.
• Effective time management skills.
• Excellent computer skills and proficiency in MS 365.
• Willingness to travel approximately 25% of the time for audits and client and broker visits.
• Bachelor of Science or Bachelor of Arts degree required.

Nice To Haves

• Knowledge of actuarial concepts, industry trends, accounting, and legal matters.
• Experience in primary and/or reinsurance General Liability, Umbrella, Auto, Excess Liability, Professional Liability, or other specialty underwriting.
• CPCU, ARe, FCAS, or ACAS designation.
• Advanced degree, such as an MS or MBA, or a degree in another quantitative field.

Responsibilities

• Underwrite, price, and support new and renewal General Casualty treaty reinsurance business in accordance with divisional strategy, corporate and divisional guidelines, best practices, delegated authority, and profitability standards.
• Perform risk and coverage analysis, assess account results, evaluate coverage, price business, and recommend proposed terms and conditions.
• Negotiate contract terms and wording with clients and brokers.
• Supervise junior underwriters and work independently or in cooperation with management on underwriting decisions.
• Collaborate with management and senior executives on complex issues, larger clients and accounts, projects, analyses, and internal relationships.
• Complete underwriting audits of clients and prospects to evaluate the quality of their books of business, and maintain close dialogue with casualty brokers and insurance companies.
• Attend industry conferences, seminars, expert panels, and other marketing events; participate in broker and client marketing efforts and industry organizations.
• Lead projects involving the development and implementation of casualty underwriting processes and strategies, and provide input on or develop client strategies where applicable.
• Develop proficiency with Munich Re pricing models and other risk evaluation tools, and strengthen technical product and underwriting expertise in primary and reinsurance markets.
• Collaborate with colleagues across functional areas and the Group, contribute to line-of-business monitoring and business development, and share knowledge.
• Serve as a subject matter expert for the broader Casualty Treaty team.

Benefits

• Company bonus opportunity based on a percentage of eligible pay.
• Health insurance coverage, including PPO or High Deductible plan options and prescription drug coverage.
• Vision and dental insurance.
• Basic life insurance equal to one times annual salary and AD&D coverage equal to one times annual salary at no cost.
• Short- and long-term disability coverage.
• Supplemental life and AD&D plans available for employees and dependents.
• Voluntary accident, critical illness, and hospital indemnity plans.
• 401(k) plan with up to a 5% employer match.
• Company-funded retirement savings plan.
• Paid time off starting at 24 days per year, with additional days for milestone service anniversaries.
• Paid holidays.
• Health and wellness programs at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• Corporate matching gifts program for charitable donations.
• Paid time off to volunteer in the community.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior