Assistant Underwriter: Power & Renewables

General information

City:London, UK

Country:United Kingdom of Great Britain and Northern Ireland

Creation Date:14-Jun-2023

Employment Type:Permanent

Employment Type:Full time

Ref #:1234570262

Description & Requirements

Role Title: Assistant Underwriter

Division: Power & Renewables

Department: Energy, Specialty

Location: London

Type: Underwriting

About the Role:

This is an assistant underwriting role supporting the Power & Renewables team in London. The assistant underwriter will focus on supporting the underwriting of a portfolio of power generation and renewable energy accounts including both operational and renewable energy construction risks (solar/wind/BESS).

The assistant underwriter will gain exposure to a wide variety of clients and technologies and exhibit a willingness to learn about the sector and its impact on the Energy Transition. The role requires interacting with members of the wider Energy & Construction teams as well as other underwriting divisions such as marine cargo and casualty, as well as claims, actuarial and exposure management.

About the Department & Team:

The Power & Renewables division is a growing area of the Energy department with renewable energy becoming a key focus area. LSM has a long-term objective to be a leading insurer in the transition from fossil fuel to renewables and clean energy sources supporting both existing energy and utility companies and new renewable energy enterprises.

Key Responsibilities:

Strategy and Planning

• Understand and follow the annual business plan for the Power & Renewables division in order to make appropriate decisions
• Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice
• Contribute as and when required to the planning process through research and preparation of relevant materials

Delivery

• Maintain relationships with customers, brokers, business partners, reinsurers and colleagues to maximise influence and achieve business objectives
• Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team
• Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including:
• Negotiating rates, terms and conditions for existing and new business
• Compliance with the production and issue of documentation in accordance with contract certainty requirements
• Support the review and analysis of the portfolio, to identify progress towards business objectives
• Process entries, as required, properly onto relevant systems in a timely manner ensuring accuracy of data with relation to both underwriting and aggregate exposures

Policy, Process and Procedures

• Compliance with all applicable internal and external laws, regulations, policies, procedures, and guidance
• Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM’s commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules ,Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience:

• 
  Understanding of relevant market conditions for specific class/portfolio
• Demonstrates proactivity in learning about emerging sectors and technologies
• Good knowledge of legal and regulatory requirements
• Become proficient in the knowledge of underwriting systems, processes and procedures.
• Analytical, with an understanding of relevant software including Excel and other software packages
• A high level of numeracy and literacy skills
• Good interpersonal and communication skills
• Confident in proactively building relationships with internal and external contacts
• Strong organizational and prioritization skills
• Good attention to detail
• Experience gained within the insurance industry
• Intent or progress towards the relevant qualifications

About Liberty Specialty Markets (LSM)

Liberty Specialty Markets is part of Liberty Mutual Insurance Group, a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• 
  Offering a vibrant and inclusive environment and committing to their career development.
• Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
• Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

For more information, please follow the links below:

https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us

https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion