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Legal Counsel, Allianz Risk Transfer (ART)

Job Level:  Professional

London, ENG, GB, SE1 9LQ

Due Date:  As soon as possible
Area of Expertise:  Legal & Compliance
Unit:  Allianz Global Corporate Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  2166

Job Purpose/Role


AGCS’ dedicated Alternative Risk Transfer (ART) team is growing its presence in London, to improve further our delivery of personalized solutions for our clients as they manage, control and reduce risk.  These solutions include multi-year, multi-line insurance products, Insurance Linked Market (ILM) business as well as fronting and captive reinsurances services.


Based in London and reporting directly to the Head of Deal Legal ART LoB , you will be integrated into the global underwriting teams of ART LoB to co-construct bespoke solutions for our clients. You will work closely with our Insurance Linked Markets (ILM) team in Bermuda and participate in developing cross sell opportunities with other AGCS LoBs to provide innovative and complex solutions in a fast changing environment.


Key Responsibilities


  • Support the ART business teams in the negotiation and execution of transactions and other deal-related activities and pro-actively manage all relevant legal and regulatory aspects of international transactions, including cross border aspects.
  • Draft and/or review all documentation relating to the company's insurance and reinsurance business (binders, slips, contracts, I&L Agreements, trust agreements, assignments, LOCs, and NDAs) against ART’s internal standards and business requirements.
  • Promote and maintain relationships with brokers and key business partners including participating in regular conference calls/meetings with key clients to obtain feedback on outstanding contract issues.
  • Provide solution-oriented and practical legal advice & support as well as well as functional guidance for management and business teams and monitor legal, regulatory, compliance & internal developments affecting ART LoB’s business.
  • Actively participate in legal practice group and underwriting meetings for the ART business teams, and perform required legal sign-offs in line with ART Legal’s internal standards.
  • Support good governance within the existing UW Governance framework and coach UW community on legal, regulatory and general compliance topics.
  • Manage internal and external customer expectations; anticipate issues and concerns of internal customers and address them proactively and directly.
  • Ensure good knowledge transfer of relevant issues to other members of ART Legal team and the AGCS Legal department, e.g., material developments in laws and best practices.


Key Requirements/Skills/Experience


  • Qualified to practice under English law.
  • At least 5 years’ experience in structuring and documenting insurance and reinsurance transactions (involving multiple legal entities in multiple jurisdictions) under English law and other governing laws commonly used in international (re-) insurance. Experience in Insurance Linked Markets business, in particular collateralized reinsurance transactions would be a plus.
  • Solid understanding of regulatory implications of cross-border insurance transactions and self-procured (non-admitted business), as well as familiarity with the principles of European regulations on Insurance Distribution (IDD) and financial instruments (EMIR; MIFID).
  • Experience operating in regulated environments, including an understanding of internal control framework and compliance requirements under Solvency II framework.
  • Able to work in an international matrix organisation and cross-functional teams.
  • Ability to actively participate in client negotiations; solid understanding of key risk drivers and key economics typical for a complex /reinsurance transaction.
  • Solid business acumen and broad understanding of economic drivers and implications of structured insurance & reinsurance transactions.
  • Strong personality, willingness to contribute beyond owns technical area of expertise.


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. Join us. Let’s care for tomorrow.


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.


Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.


Worldwide, AGCS operates with its own teams in 32 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,300 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2019, AGCS generated a total of €9.1 billion gross premium globally.


For more information, visit www.agcs.allianz.com or follow us on Twitter @AGCS_Insurance and LinkedIn.

At AGCS UK we are not only impressive for our clients, but also for our employees as we offer the

following generous benefits:

-Flexible buy/sell holiday options

-Bupa private medical insurance

-Generous pension contributions

-Enhanced paid maternity, paternity, shared parental leave


-Flexible working options

-Subsidized on-site massages

-Employee stock purchase plan for Allianz shares

-Education / study sponsorship

-Global mobility within AGCS and the wider Allianz Group

…and many more individual flexible benefits to choose from. We pride ourselves on our approach to

wellbeing and provide regular seminars, activities, and events devoted towards the overall health of our employees.