About Us: At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.
We are currently looking for a Senior Surety Underwriter to be based in Madrid on a full-time basis, reporting into the Head of Underwriting, Spain.
In order to successfully establish and profitably grow our Surety business in the Spanish market, we are looking for an exceptional individual with a proven track record of growth and profitable underwriting in the Surety Line of Business in the Spanish market.
Ideally, our successful candidate has experience across Wholesale business – having underwritten business regionally in Spain and international Surety business.
An entrepreneurial spirit is a must, with a high degree of comfort in building a business presence from scratch and preparedness to roll up the sleeves for tasks both big and small.
Responsibilities:Responsible for product development together with the Head of Underwriting Spain and Surety CUO to deliver new product rates, rules, and policy forms and the maintenance, consistency of existing product rates, rules, and policy forms.In close collaboration with the Head of Underwriting Spain and Surety CUO, manage the Surety portfolio in Spain to achieve the business mix and performance goals as established by the CUO Surety.Maintain and execute the Surety underwriting authority delegation and referral processes in Spain.Monitor insurance market trends and developments in Spain in order to make adjustments as appropriate to underwriting policy and strategy.Conduct and develop effective relationships with insureds and brokers, to both strengthen existing trading relationships and secure new business that falls within the Underwriting business plan.Originate new business relationships and process transaction opportunities in Spain and for international clients.Grow the business from scratch and be accountable for the performance of assigned clients and transactions.Conduct a full analysis of the underlying counterparty and/or transaction in close collaboration with Credit Analysis Teams for complex risks.Provide sound and thorough underwriting recommendations and decisions.Conduct accurate pricing for the transaction and contribute towards further development and refinement of pricing processes.Prepare high-quality transaction submissions/ triage for clients in your own responsibility and drive the discussion/ approval process end-to-end.Review contract, bond, and indemnity wordings and ensure compliance with internal guidelines and policies.
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