Senior Underwriter - Downstream Energy at IGI - International General Insurance Co. Ltd.

London, England, United Kingdom -

Full Time

Start Date

Immediate

Expiry Date

23 May, 26

Salary

0.0

Posted On

22 Feb, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Underwriting, Risk Analysis, Negotiation, Portfolio Management, Broker Relationship Management, Product Development, Financial Crime Prevention, Peer Review, Data Analysis, Regulatory Compliance, Attention To Detail, Interpersonal Skills, Customer Service, Teamwork, Self-Starter, Prioritization

Industry

Insurance

Description

Job Summary The company operates across 2 primary sites – London and Amman (Jordan). London hosts the majority of the Senior & Class Underwriters in addition to a UK Finance function and Claims, Actuarial and Risk teams. Amman hosts the majority of the underwriting administration, aggregate management, claims, finance, audit, compliance and IT functions. The Energy Underwriting team are based primarily in London. The team is split between Upstream and Downstream with the Class Underwriters and Senior Underwriters based in London and Underwriters and Assistant Underwriters split across London, Amman, Dubai and KL. Job Description Company Description IGI - International General Insurance Co. Ltd. is a leading international specialist commercial insurer and reinsurer with a global portfolio of Energy, Property, Construction & Engineering, Ports & Terminals, Marine, Financial Institutions, General Aviation, Professional Indemnity, Casualty, Directors’ and Officers’, Legal Expenses, Political Violence, Contingency and Treaty Reinsurance. Registered in Bermuda as a limited liability company, with operational headquarters in Amman, Jordan and offices in London, Malta, Bermuda, Norway, Dubai, Kuala Lumpur and Casablanca, we aim to deliver outstanding levels of service to our clients and brokers. Our ratings reflect the financial strength of our business: “A” (Stable) from AM Best; “A-” (Stable) from S&P. In 2024, we had net earnings of $135.2 million. Our holding company has assets in excess of $2,037.6 million, as at 31 December 2024. Job purpose To review and underwriter applications for Downstream Energy (Re)insurance cover received by IGIUK Ltd, determining and evaluating the nature and extent of the risk involved, maximising profit generated by the arrangement, whilst minimising the risk exposure to the business. Key Responsibilities Underwriting Underwriting new business profitably and accurately, reviewing and analysing reinsurance proposals received by IGIUK to determine what degree of risk, if any, to accept on the business’s behalf, by reference to relevant, up to date market information, statistics and specialist data. Negotiating the most favourable terms with brokers and clients, ensuring that IGI’s income is maximised whilst its risk exposure is minimised. Ensuring that all decisions regarding the insurance terms to be offered to clients are made in accordance with IGI’s documented Underwriting procedures Liaising regularly with the IGI Group support and production teams based in Malta, Jordan, KL, Dubai, Casablanca and other offices, to ensure that procedures and process are operating as required and in a consistent manner Undertaking regular peer reviews in accordance with IGIUK’s internal standards and requirements Authorising reinsurance of an insurance or reinsurance arrangement when risk exposure requires this, with reference to IGI’s President A highly collaborative approach to underwriting is essential to ensure that decisions are aligned with relevant line of business strategies and supported by the appropriate Class Underwriters Reviewing underwriting decisions made in IGI’s other offices, providing supporting recommendations as appropriate. Ensuring that individual responsibilities and accountabilities are carried out in line with regulatory and statutory requirements, particularly those relating to the general safeguards aimed at preventing financial crime. Work with the Amman team to ensure signoff summary sheets are correct Manage PPL entries for the IGI UK stamp Portfolio Management Responsible, under guidance of the Class Underwriter, for balancing a growth in volume without losing profitability across the line of business Ensuring all direct reports operate within their respective underwriting authorities, reporting any breaches to the relevant class Head. Ensure any audit requirements and recommendations are promptly implemented and maintained Ensure implementation of risk appetite and tolerance for each of the key risk areas undefined Maintain and develop where required all aspects of client relationship management and third-party service providers Actively manage and grow broker relationships both in the UK and overseas Ensure excellent service is provided to brokers including prompt and efficient turnaround timescales and the correct management of broker expectations Product Development Assess and report where necessary to the relevant line of business head, and emerging risks within the class of business Recommend and review appropriate new business products Ensure all KPI’s are upheld for new business generation undefined undefined Ensure an appropriate level of personal specialist knowledge and competence is maintained through a defined programme of training and continuing professional development as determined by prevailing regulatory requirements and internal standards Professional Conduct Understands and behaves in accordance with the regulators Conduct Rules Understands, and at all times, conducts work and oneself in line with the corporate values – Innovative, coming up with solutions We listen, consider and endeavor to offer solutions to all our customers We encourage our employees to innovate and to come up with new ideas and initiatives Genuine, authenticity matters We are a global team, supporting and collaborating with each other, for the benefit of all our stakeholders We celebrate diversity and recognize that each individual is unique, and of value to ourselves and our society Integrity, remaining true to our employees, customers and stakeholders We put our principles into practices, doing only what’s right for our customers, employees and shareholders We believe in building relationships, internal and external, based on trust, truths and real collaboration Key Attributes & Professional Qualifications We believe in building relationships, internal and external, based on trust, truths and real collaboration A keen interest in own self professional development. Will need to be CII qualified, as well as regularly attending training events to continue their own professional development General computer literacy (excel, word, powerpoint etc) Strong team player who is also able to work on own initiative within authority limits Excellent attention to detail in order to maintain accuracy of data and file records undefined Customer focused, providing excellent customer service skills both internally to the team, as well as externally, with brokers The candidate needs to be a self-starter, who can manage high volumes during busy periods, has the ability to take and execute instructions and meet deadlines. Must work well under pressure and be able to prioritise tasks, especially during busy periods. Excellent Interpersonal skills: active listener, purposeful communication, confident interaction, and ability to work within a team Conduct Rules SMCR was introduced by the Financial Conduct Authority (FCA), includes a set of Conduct Rules that apply to most employees in UK financial services firms. These rules aim to improve individual accountability and promote a healthy culture across the industry. Individual Conduct Rules These are the core five rules that apply to all employees Act with integrity Act with due skill, care and diligence Be open and cooperative with the FCA, PRA, and other regulators Pay due regard to the interests of customers and treat them fairly Observe proper standards of market conduct undefined We are an international specialty insurance and reinsurance group, registered in Bermuda and listed on Nasdaq Capital Markets under the symbol “IGIC”. We underwrite a diverse portfolio of specialty lines worldwide.

Responsibilities

The primary responsibility is to review and underwrite applications for Downstream Energy (Re)insurance cover, determining the nature and extent of the risk to maximize profit and minimize business exposure. This includes profitably underwriting new business, negotiating favorable terms with brokers, and ensuring all decisions align with documented underwriting procedures.