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CUO - Retail

Munich Re

CUO - Retail

Salary Not Specified

Munich Re, City of Westminster

  • Full time
  • Permanent
  • Onsite working

Posted 3 weeks ago, 28 Aug | Get your application in now before you miss out!

Closing date: Closing date not specified

job Ref: 163ebe796e5e44f49be7edae3b4bc60f

Full Job Description

  • Responsible for managing all technical underwriting activities (Retail) of MRSGM in Europe, NA and APAC, ensures the quality of underwriting, and assures that all underwriting and pricing guidelines, protocols, and controls are consistently applied throughout the region.

  • Establish, implement, and monitor Retail underwriting strategy, policy, guidelines and controls for Europe, NA and APAC, consistent with MRSGM objectives and directives, and consistent with client group focus.

  • Direct and manage overall technical underwriting activities (Retail) for MRSGM in Europe, NA and APAC while assuring that a high level of technical proficiency is achieved in all areas.

  • Responsible for product development together with Global Product CUOs and Global Product Heads to deliver new product rates, rules and policy forms and the maintenance, consistency of existing product rates, rules and policy forms.

  • In close collaboration with Country MDs and in-country Heads of Underwriting, manage the portfolio across Europe, NA and APAC to achieve the business mix and performance goals as established by the Group CUO.

  • Maintain and execute MRSGM underwriting authority delegation and referral processes in Europe, NA and APAC

  • Monitor insurance market trends and developments across Europe, NA and APAC in order to make adjustments as appropriate to underwriting policy and strategy.

  • Coach and lead a high performance matrix management team of Country Heads of Underwriting; play an integral part in the attraction, recruitment and retention of required talents.

    We are searching for an exceptional individual with a proven track-record of growth and profitable underwriting across several lines of business (first and third party) in multiple regions. Ideally, our successful candidate has experience across both Retail (non-Wholesale) and Wholesale business - having underwritten business regionally in Europe and NA or APAC. Knowledge of Lloyd's of London UW practices would be a benefit. An entrepreneurial spirit is a must, with a high degree of comfort in building a business presence from scratch and preparedness to roll up the sleeves for tasks both big and small.


    • Our successful candidate is culturally astute across Europe, NA and / or APAC, preferably speaking 1-2 main European languages (e g German, French, Spanish) in addition to English and with strong interpersonal skills - having a black belt in stakeholder management across all levels of an organization.,
  • Demonstrated ability in an executive leadership position, ideally as Chief Underwriting Officer, Head of Underwriting or Product Head

  • In-depth knowledge of exposure and experience rating processes

  • In-depth technical knowledge of single risk and delegated underwriting in Specialty lines of business

  • Excellent people skills, including stakeholder management

  • Possess personal qualities of integrity, credibility, and commitment to corporate mission

  • Strong negotiation skills

  • Excellent communication (written, verbal and presentation), interpersonal and networking skills with all levels of organizations

  • Strategic and forward-thinking with a proven track-record of general business management, including planning and forecasting

  • Cross-cultural savvy, ideally having lived and / or worked in Europe (outside UK) and APAC

  • Language skills, ideally speaks +2 main European languages in addition to English, Extensive primary insurance underwriting experience, ideally across both Retail (non-Wholesale) and Wholesale (e g Lloyd's) platforms

  • Extensive people management experience

  • Strong experience of operating within an executive position, ideally as Chief Underwriting Officer

  • Experience across multiple lines of business / products

  • University degree and/or relevant professional qualification

  • Relevant insurance qualification

    At Munich Re Specialty - Global Markets, individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we're committed to building a strong and inclusive culture where everyone is welcomed and valued for their "own expression of self-identity"., Munich Re Specialty - Global Markets is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.


    • As well as operating in the Lloyd's of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

    Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build - to enable people and businesses to thrive.

    Chief Underwriting Officer, Retail

    Since its formation as a stand-alone division of Munich Re in 2023, Munich Re Specialty (MRS) has the ambition to become a profitable top-10 global primary Specialty insurer. Complementing an already strong presence in the UK and the US, Munich Re Specialty - Global Markets (MRSGM) has been tasked with expanding our primary Specialty business in continental Europe and APAC. We have started the European expansion journey, adding to our current operations in Regional UK, Ireland and Germany, while our plans for APAC are in a near-final development stage.

    In order to successfully establish and profitably grow our global Retail (non-Wholesale) business across several regions, we are looking for a Global Retail Chief Underwriting Officer to join our team.

    At MRSG, you'll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!

    Diversity & Inclusion

    Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

    Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.