Property Treaty Underwriter

Property Treaty Underwriter

Career Level 3

**Company**
Munich Re
**Location**
Johannesburg, South Africa

**Munich Reinsurance Company of Africa Limited (MRoA) has been operating in South Africa for 50 years. The Head Office of MRoA is in Johannesburg, with a client service Life office situated in Cape Town.**

You will manage the underwriting of new and renewal of existing treaty business, within an assigned portfolio, in a specific line of business, according to the group underwriting strategy, Munich Re of Africa (MRoA) strategy and own mandate and authority. You will maintain consultative relationships with clients/markets in their portfolio, for the specific line of business, to monitor and improve the portfolio sustainability and profitability. Also, there is a need to contribute to the co-development of innovative solutions for clients/markets, following the Munich Re (MR) risk appetite. Reporting into the Head of Property Treaty, you will,

**Your Job**:

- Implement the business line strategy independently, by underwriting all business, observing the MRoA underwriting authority.
- Assess, pricing, administering and where necessary designing treaty offer observing Munich Re risk appetite, underwriting guidelines, internal processes and authorities.
- Assess the underwriting process of clients to provide credible evaluations of the quality of clients’ books.
- Work together with client management to ensure that service levels to clients are maintained including meeting clients and/or negotiating treaty terms and conditions.
- Participate in identifying and acquiring clients, and broker targets, for traditional and innovative risk transfer mechanisms to create value for MRoA.
- Develop non-traditional reinsurance and (where appropriate) primary insurance concepts in cooperation with specialists within Munich Re Group, if necessary.
- Contribute to technical know-how within the Property Treaty Underwriting team through research, participation in projects, cooperation with Munich Re Group experts et.
- Gain full understanding of what constitutes valid and technically accurate underwriting to develop appropriate levels of underwriting skill and technical competency.
- Assist in organising and conducting seminars / workshops, for external clients and internal stakeholders, to enhance levels of Underwriting.
- Guide Junior Underwriters, by conducting on-the-job training, and exposing them to client engagements, deliverables and functions, to develop their underwriting skillset and technical competency.
- Drive emerging topics such as climate change, ESG, and shock inflation and taking ownership for underwriting excellence topics.
- Cocreate new insurance or data analytics solutions together with a broader APA client team and other internal stakeholders.
- Participate in divisional and cross-divisional initiatives and projects.

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**Your Profile**:

- Sound experience in underwriting and pricing of property treaty business with in-depth knowledge of guidelines, tools and processes or University degree in law, business studies/economics, mathematics or the like and professional experience in quantitative or law-related field (e.g. consulting, primary insurance, NatCat modelling, law firm) and commitment to building up relevant knowledge.
- 4+ years of relevant Insurance experience.
- 3+ years of relevant Reinsurance experience.
- Willingness to travel.

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**Our Benefits**:

- Life and Health Benefits.
- Retirement Benefits.
- Hybrid working environment.
- Bonus Scheme.
- Employee Assistance Program.
- Wellness Programs.
- Global Mobility.

**You will work in an environment where we aspire to think big**: Change and culture are challenged. We communicate a compelling and shared purpose and direction. We pave the way towards success and see failure as learning.

**You are going to experience that we care & dare**: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders.

**We aim to communicate in a clear & authentic way**. We solicit feedback, ask and listen, learn and unlearn.

**We lead the We**: We have a passion for winning and growing as a team. We inspire people to deliver a joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged.

LI-Hybrid

**About Munich Re**:
Founded in 1880, Munich Re Group is on the world's leading providers of primary insurance, reinsurance and insurance related risk solution. As pioneers in risk assessment, we promote the digital transformation of the global insurance landscape, expanding products and services as new forms of risk emerge. From space rocket launches to cyber-attacks, from high net worth individual life cover to pandemic, we take care of risk, so our clients can take care of their business.

**Disclaimer**:
At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experience, perspectives a