Underwriter Senior

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face.

About the role

The Surety Underwriter Senior will be responsible for the marketing, underwriting, administration, and overall business development of an assigned geographic territory in accordance with the company’s surety business model to meet projected profitability and expense goals. You will serve as the lead underwriter for the assigned region, acting as the front line for the commercial surety line of business. The position supports the Head of Commercial Surety in balancing the needs to achieve budgeted financial results (premium volume, loss ratio, premium collections, and expense management including commissions) through sound underwriting practices to produce profitable results. You will also lead Book of Business reviews and assist in portfolio management. This role includes significant underwriting authority to enhance the customer and broker experience, with an emphasis on autonomy to better service agents and clients using an agile and lean approach.

Responsibilities

• Develop and execute a strategic business plan to expand the surety portfolio while maintaining full P/L responsibility for the region.
• Establish and maintain key surety broker relationships in compliance with guidelines for new and renewal surety business.
• Develop and underwrite a profitable portfolio, coordinating new/renewal business while exercising proper underwriting pricing and discipline in compliance with underwriting guidelines, systems, and procedures.
• Hire, develop, and train team members in your region, including Sr. Underwriters, Underwriters, Associates, and Trainees as appropriate.
• Collaborate with MRSNA Surety colleagues to fully leverage capabilities and increase the customer base.

Requirements

• Bachelor’s degree in Business Administration, Economics, Finance, Accounting, or a related field.
• 10+ years of progressive experience working with surety products.
• Entrepreneurial skill set with excellent marketing, negotiating, and communication skills.
• Proven track record of developing and maintaining strong relationships with agents/brokers.
• Ability to think strategically and function tactically.
• Exceptional communication skills to engage brokers, clients, and colleagues, and convey a vision and client-focused solutions.
• Ability to present and negotiate complex agreements with brokers.
• Effective time management and organizational skills.
• Willingness to travel up to 40%.

The company is open to considering candidates in numerous locations, including Philadelphia PA, New York NY, Princeton NJ, Hartford CT, or Remote.

Pay

The base salary range for this position is $161,000 - $296,000, plus opportunity for a company bonus based on a percentage of eligible pay. The salary range reflects market variations across locations, with adjustments made per geography. Most candidates will start in the bottom half of the range.

Benefits

• Two health insurance plan options (PPO or High Deductible) with prescription drug coverage included.
• Vision and dental insurance plans.
• Basic life insurance equal to 1x annual salary and AD&D coverage equal to 1x annual salary, provided at no cost.
• Short- and Long-Term Disability coverage.
• Supplemental Life and AD&D plans available for purchase for yourself and dependents (includes spouse/domestic partner and children).
• Voluntary Benefit plans (Accident, Critical Illness, and Hospital Indemnity) to supplement health and life insurance.
• A robust 401k plan with up to a 5% employer match.
• A 100% company-funded retirement savings plan.
• Paid time off starting at 24 days per year, with additional days added for milestone service anniversaries.
• Eligibility for a yearly bonus.
• Health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program for charitable donations.
• Paid time off to volunteer in your community.