Job Details

Property Engineering Energy Underwriter - Construction

We're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.

Company

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re's facultative and corporate business into one global unit. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

Opportunity

The Engineering & Energy business units of Munich Re F&C provides custom‑made insurance solutions to the power, energy and construction industries. The team is a recognized market leader in these classes of business. For the US Corporate Engineering & Energy team, we are looking for a qualified Construction underwriter who will be tasked with underwriting large builders risk placements. This role is preferably based out of one of the following office locations: New York, Chicago, Houston, San Francisco, or Atlanta.

Apply specialized EAR and CAR underwriting risk analysis skills and insurance knowledge to adequately assess the potential exposures for construction risks underwritten in the Munich Re Facultative & Corporate Property (MRF&C) U.S. Corporate Engineering & Energy Division. Determine the appropriate terms and conditions and consider risk‑sharing acceptances. Manage a growing pipeline of construction submittals. Assist where necessary on power‑gen & renewable energy and down/midstream energy and specialty chemical risk accounts within the portfolio. Deliver superior construction underwriting and contribute to overall profitability.

Responsibilities

• Produce, underwrite and manage a portfolio of civil, energy and power construction projects per risk appetite through contacts with retail and wholesale insurance brokers, risk purchasing groups and captives.
• Underwriter charged with the responsibility for accepting Engineering (Power‑Gen & Construction) and Energy allocated business.
• Perform the underwriting referral function as needed with colleagues and peers in line with established authority for Engineering and Energy business, as specified and as required in the underwriting guidelines and mandates.
• Implement use of pricing and layering models of the MRF&C Energy and the Munich Re rating and drive modifications when necessary.
• Support and recommend changes to the Engineering & Energy Underwriting Guidelines as needed.
• Work within the referral audit process with overall adherence to risk selection and pricing techniques developed for MRF&C Engineering & Energy.
• Support, recommend and develop new products and filings to satisfy client needs by using depth of underwriting background/experience for program development.
• Drive policy form enhancements and rating tools as well as being innovative with respect to distribution channel choices.
• Be a support/referral resource to other distribution channels and client groups, providing construction underwriting expertise and input.
• Negotiate and conclude the offers, terms of contract with brokers/clients and, when necessary and feasible, submit counter proposals.
• Analyze and evaluate our distribution of limits, attachment points and layers for Engineering & Energy business to maximize profitability potential.
• Track and monitor loss development for the construction portfolio including keeping current on industry loss trends and working with the claims department as needed.

Marketing

• Establish and maintain sound contact with clients, keeping abreast of market developments and client needs.
• Provide, in close collaboration with the MRF&C Division, Engineering & Energy products and services to maximize and develop new/existing business opportunities.
• Promote MRF&C Engineering & Energy capabilities and competencies.

Seminars & Media

• Participate in appropriate construction‑related industry seminars/workshops as a speaker and/or trainer.
• Devise, organize and assist in successful delivery of MRF&C Property Engineering & Energy technical seminars.
• Contribute to technical journals.

Participation on Technical Market Committees

• Ensure appropriate representation on technical insurance market committees, providing technical input and sourcing key market knowledge.
• Assist the Manager, Property Engineering & Energy (Energy, Power & Construction) as and when required in fulfilling all managerial and administrative duties of the MRF&C U.S. Corporate Engineering & Energy.

Qualifications

• Bachelor's Degree with preference in a technical field such as Engineering.
• 10+ years practical industry experience preferred.
• Knowledge of internal processing procedures and systems would be highly beneficial.
• Negotiation and relationship marketing skills.
• Strong computer skills.
• Excellent verbal and written communication skills.
• Ability to travel nationally and internationally.
• Management/leadership skills.

Location & Salary

Locations: Princeton (NJ), New York City (NY), Chicago (IL), Houston (TX), San Francisco (CA), and Atlanta (GA). The base salary range reflects market variations across various locations and will be adjusted per geography. Expected range: $174,200 – $290,300 plus a company bonus based on eligible pay.

Benefits

• Health insurance plan (PPO or High Deductible) with prescription drug coverage.
• Vision and dental insurance plans.
• Basic life insurance equal to 1x annual salary and AD&D coverage equal to 1x annual salary.
• Short and long‑term disability coverage.
• Supplemental life and AD&D plans for self and dependents.
• Voluntary benefit plans (Accident, Critical Illness and Hospital Indemnity).
• Robust 401(k) plan with up to a 5% employer match and a 100% company‑funded retirement savings plan.
• Paid time off beginning with 24 days per year, increasing with service milestones; paid time off for family care needs and volunteer work.
• Eligibility for yearly bonus as a Munich Re employee.
• Health and wellness programs at no cost.
• Tuition assistance and educational achievement bonuses.
• Corporate matching gifts program.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Seniority Level

Mid‑Senior level

Employment Type

Full‑time

Job Function

Finance