Underwriting Manager

We have an exciting opportunity for an individual to join our Isle of Man based captive management team and to contribute to growth in an international risk and insurance environment as part of the Willis Towers Watson Group.

The role requires overall responsibility for the management of a portfolio of captive (re)insurance companies and the provision of technical underwriting support across the team. The successful candidate will report to the Head of Office.

This is a Certification Regime role under the Financial Conduct Authority’s (FCA’s) Senior Manager and Certification Regime and will be subject to the FCA’s Conduct Rules

Responsibilities:

• Manage the day-to-day delivery of captive management services to a portfolio of clients, and be the primary point of contact within WTW, for the nominated client companies, in relation to all (re)insurance management services.
• Maintain an on-going relationship with nominated clients and gaining an understanding of the clients’ business and industry.
• Contact for Underwriting and Claims queries/information on captives.
• Responsible for producing information, on a basis agreed with the client to enable the captive Board of Directors to make informed decisions.
• To liaise with the parent company, insurance supervisor, insurers, brokers, reinsurers, auditors, directors, lawyers and actuaries to fulfil the above responsibilities.
• Responsible for assisting (re)insurance companies under management to comply with Isle of Man Financial Services Authority (IOMFSA) regulations and filing requirements, together with company legislation and agreed guidelines.
• You will have management responsibility to supervise a small team of captive underwriters and administrators.
• Contribute to the wider Global Captive Practice joint initiatives in sales and marketing, including involvement in the preparation of feasibility studies.
• Underwriting for specific clients.

Financial

• Production of detailed Underwriting accounts, review of premium and claims information, assist in budgets/forecasts preparation.
• Liaise with insurers, brokers, reinsurers, risk consultants, loss adjusters in relation to the underwriting activities of the captives.
• Inform on the impact to the technical result due to changes in underwriting performance.

Documentation

• Review all relevant contracts/policy wordings/agreements, in regard to underwriting and claims issues and to report to the Directors therein.

Client Liaison

• Liaise with clients regularly and culture positive relationships including out of office hours entertaining.

Board Meetings

• Assist in coordinating quarterly Board meetings, including the production and issuance of Board packs and minutes for same.
• Presentation of information in a Board meeting environment.

Marketing

• Undertake presentations to both prospective and current clients, including preparation of material used at same.

Payments

• Arranging for payment of claims and related expenses subject to collating the appropriate documentation and authorisation.
• Authorised signatory for specific clients.

Internal Audit/Compliance

• Review of files and procedures within the company.
• Ensure compliance with all Group and Client Procedures.

Governance/Company Solvency

• Be aware of compliance requirements imposed on companies under management in IOM and the local Solvency requirements.

The Requirements

• Experience gained in captive management operations in leading domicile is preferred but not essential.
• As a minimum we are looking for a successful candidate to have the following attributes:
• Experience of (re)insurance underwriting preparation.
• Hold a professional Qualification and/or in-depth insurance industry experience.
• Have a track record working with commercial clients within an insurer, broker or advisory operation, or working within a corporate environment.
• Subject to permit for non-Isle of Man residents.

At WTW, we believe difference makes us stronger. We want our workforce to reflect the different and varied markets we operate in and to build a culture of inclusivity that makes colleagues feel welcome, valued and empowered to bring their whole selves to work every day. We are an equal opportunity employer committed to fostering an inclusive work environment throughout our organisation. We embrace all types of diversity.