Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
About the Role:
Construction & Energy Department based in Oslo. Underwrite business in accordance with the business plan and within delegated underwriting authority.
Key Responsibilities
- Start and organise this new Construction/Energy Department in the Oslo office, under the responsibility of both the Local branch manager and Construction/Energy Line of Business Managers in The Netherlands and Europe.
- Support the development of the annual business plan for the Underwriting division and ensure delivery of the plan in accordance with stated risk tolerances.
- Ensure the team’s awareness of the business plan and its context so that they can take appropriate action and make informed decisions.
- Contribute and participate in all meetings to share and develop strategy, knowledge and best practice.
- Contribute new ideas and concepts to support the development and delivery of the business plan.
- Communication of LSM Europe’s risk appetite to brokers and clients.
Delivery
- Establish and strengthen relationships with brokers, industry bodies, business partners, reinsurers and colleagues, to maximize influence and achieve business objectives.
- Demonstrate understanding and awareness of market dynamics and market cycles to drive and enhance business performance.
- Continually develop expertise and technical knowledge through appropriate development initiatives. Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including:
- Negotiating rates, terms and conditions for existing and new business.
- Compliance with the production and issue of documentation in accordance with contract certainty requirements.
- Contribute and influence in the review and analysis of the portfolio, to identify progress towards business objectives.
- Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures.
- Liaise with LSM Europe Risk Engineering team where appropriate.
- Participate in all LSM Europe Construction/Energy Department meetings as the representative for Oslo.
Policy, Process and Procedures
- Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance
- Adhere to underwriting standards, instructions and best practice methodology to minimize risk
- Apply any reinsurance requirements in accordance with stated risk tolerances and to deliver against business plan.
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviors as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to placing customers at the center of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively always demonstrate compliance with these requirements and behaviors. These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
Skills and Experience:
- Extensive knowledge of relevant market conditions for specific class/portfolio
- Strong knowledge of legal and regulatory requirements
- Thorough understanding of class specific underwriting and reinsurance knowledge
- Intermediate/ advanced level understanding of relevant software including Excel and other departmental software packages
- Strong level of numeracy and literacy skills
- Strong interpersonal and communication skills
- Strong analytical skills
- Strong negotiation skills
- Strong organisational and prioritisation skills
- Ability to analyse and use data for decision making
- Strong attention to detail
- Significant experience gained within the insurance industry
- Use of risk profiling and pricing tools and loss models
- Strong established customer/broker relationships
For further information please contact our our recruitment partner CRUIT as, Rune Frøyslie, senior advisor, tel +47 402 82 150, or Kari Meyr, researcher, tel +47 452 25 533
