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Property Underwriter

Job Level:  Professional

Chicago, IL, US, 60606 Minneapolis, MN, US, 55416 Remote, Remote, US, Remote O'Fallon, MO, US, 63368

Available until:  04/07/2023
Area of Expertise:  Underwriting
Unit:  Allianz Global Corporate & Specialty
Employing Entity:  Allianz Global Risks US Insurance Compan
Job Type:  Full-Time
Remote Job:  Hybrid working
Employment Type:  Permanent
ID:  21777

AGCS Intro

Whether it’s airplanes, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Global Corporate and Specialty (AGCS) have got the major risks fully covered when it comes to protecting businesses.


Allianz is in search of a talented Underwriter to join the Midcorp Property team in the Midwest. We would ideally like someone that can be based out of Chicago or Minneapolis but can consider qualified remote candidates from anywhere based in the Midwest. If you have Commercial Property Underwriting experience and want to join a prosperous company with plenty of opportunity for growth please apply today!


Job Summary:

  • Underwrite profitable new and renewal business to meet LoB targets
  • Negotiation of participation, pricing and terms and conditions
  • Ownership of accounts / clients
  • Develop and maintain relationships with brokers and clients


Job Responsibilities:

  • Underwrite Profitable business
    • Underwrite new and renewal accounts to meet top and bottom line targets
    • Negotiate participation, pricing and terms and conditions with brokers
    • Proactively manage capacity
    • Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation
  • Underwriting Approach and Compliance
    • Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles
    • Ensure contract certainty is achieved on all accounts at time of inception
    • Ensure utilisation of global pricing tools
  • Policy Documentation and Administration
    • Ensure accurate policy documentation issued to broker (where AGCS responsibility to do so) or broker has issued documentation (where broker responsibility)
    • File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled
    • Proactively support completion of policy administration and credit control processes
  • Market Management
    • Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary)
    • Proactively liaise with MMC on market management initiatives
  • Relationship Management
    • Positively represent AGCS externally to the market
    • Proactively drive involvement of functional areas in Underwriting process, including e.g. MMC, ARC, Claims, Operations
    • Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g. risk managers)
  • Coaching
    • Training, developing and coaching of less experienced staff (including Junior Underwriters, Operations and Credit Control)


Job Requirements:

  • Proven track record in Underwriting profitable business in LoB. Understanding of LoB products and portfolio
  • Demonstrable, established relationships with brokers at peer group level
  • Good understanding of regional / local LoB insurance markets and competitor landscape
  • Understanding of legal and regulatory framework
  • Experience working in complex, global matrix organization
  • Preferably a degree in Economics, Law, or other appropriate discipline
  • Progress towards professional insurance qualifcation (e.g. CII)
  • The annualized base pay range for this role is $60,938-$103,464. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AGCS total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.




Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. 
We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in.
We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation.
Great to have you on board. Let's care for tomorrow.
Note: Diversity of minds is an integral part of Allianz’ company culture. One means to achieve diverse teams is a regular rotation of Allianz Executive employees across functions, Allianz entities and geographies. Therefore, the company encourages its employees to have motivation in gaining varied skills from different positions and to collect experiences from across Allianz Group.

Nearest Major Market: Chicago