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Senior Underwriter, Financial Institutions

Job Level:  Professional

London, GB, EC3V 0HR

Due Date:  As soon as possible
Area of Expertise:  Underwriting
Unit:  Allianz Global Corporate Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  1058

Job Purpose/Role


At AGCS we specialise in offering Financial Lines insurance for the most complex and challenging exposures. With a focus on larger global risk portfolios and major national risks, we offer tailor made Financial Institutions insurance through our global network.

Reporting to the Head of FI, UK you will work closely with clients and brokers to develop personalised solutions as well as developing new relationships. You will be responsible for underwriting profitable new and renewal business to meet Financial Institutions targets regionally including global elements. Your responsibilities also include negotiating participation, pricing and terms & conditions, supporting the acquisition of new business and retaining existing business.


Key Responsibilities


In this role you will.....


  • 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 in line with Line of Business governance framework - e.g. Underwriting Authorities, global MSU and Underwriting Guidelines
  • Ensure contract certainty is achieved on all accounts at time of inception
  • Ensure utilisation of global pricing tools
  • 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  and maintained for each risk and transaction handled
  • Proactively support completion of policy administration and credit control processes
  • Positively represent AGCS externally to the market
  • Proactively drive involvement of functional areas in Underwriting process, including e.g. MMC, Claims, Operations
  • Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g. risk managers)


Key Requirements/Skills/Experience


  • Ideally CII qualified or equivalent or working towards it
  • At least 5 years’ experience as an Underwriter, Broker or relevant equivalent in the financial institutions sector
  • Ability to assess risk inherent exposures relevant to the product
  • Analyse current performance against benchmarks, applying how the market operates and functions, the business needs and customer needs
  • Design, develop and implement consistent, robust wordings
  • Solid understanding of the policy administration life cycle, information collection, policy issuance, premium bookings, credit control & cancellation
  • Excellent communication skills and ability to create relationships with a wide range of people
  • Ability to persuade and motivate others to act
  • Able to analyse information gathered from various sources, and draw appropriate conclusions

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 the Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks.

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 industries, but also wineries, satellite operators and 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. 

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