Job Description

Career Level 3
The role is responsible for 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 (MRAB) strategy and own mandate and authority. The role is required to maintain consultative relationships with clients/markets in their portfolio, for the specific line of business, in order to monitor and improve the portfolio sustainability and profitability. In addition, there is a need to contribute to the co-development of innovative solutions for clients/markets, in line with the Munich Re (MR) risk appetite. This role reports to the Operational Manager for Property Treaty.
Your Role:

• Implement the particular business line strategy independently, by underwriting new and existing business, in accordance with the MRAB underwriting authority.
• Assess, price, administer, and where necessary design treaty offers in line with Munich Re's risk appetite, underwriting guidelines, and internal authorities, while leveraging advanced pricing techniques and risk assessment tools-including actuarial analysis and catastrophe modeling-to evaluate client underwriting processes and provide credible assessments of portfolio quality.
• Ability to design and review reinsurance wordings and structures, ensuring compliance with legal and regulatory frameworks
• Cooperating with client management to ensure that optimal service levels to clients are maintained including meeting clients and/or negotiating treaty terms and conditions
• Participate in identifying and acquiring clients, as well as broker targets, for traditional and innovative risk transfer mechanisms to create value for MRAB.
• Developing non-traditional reinsurance and (where appropriate) primary insurance concepts in cooperation with specialists within Munich Re Group, if necessary
• Actively contributing 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

Your profile:

• Undergraduate Degree in a relevant line of business, such as Law, Engineering, Economics, Actuarial/Statistical, Insurance and the like
• At least 4 - 6 years of relevant Insurance experience or at least 3 - 5 years of relevant Reinsurance experience.
• Teamwork skills and a willingness to share knowledge

At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us. As part of our commitment to opportunity, growth and diversity, preference may be given to candidates in line with our Employment Equity Plan

Skills Required