Careers

Underwriter / Senior Underwriter – Energy Underwriting

Job Purpose:

Oversee the downstream energy team workflow and work to achieve the department and origination goal. Specifically, responsible for the production and management of the energy downstream portfolio.

 

Description:

– Ensure regular meetings are held with the other underwriting assistants to discuss energy matters.

– Oversee general functioning of the teams and individuals, ensuring that standards are being maintained in terms of work quality, attendance and punctuality.

– Counter sign e-mail offers to brokers, provided the underwriter has already signed file with self-explanatory offer.

– Counter sign slips / endorsements where the underwriter has already given his unqualified agreement and where no outstanding subjectivities / warranties remain.

– Provides support to the Underwriter which includes a wide range of responsibilities within the underwriting process, including premium income monitoring and aggregation reporting.

– Agreement of wordings (but not where Kuwait Re are slip leader) from London market brokers only where a full MRS slip has been agreed, incorporating common manuscript wordings (WELCAR; LSW244; EED8/86 etc).

– Agreement of endorsements (but not where KRe are slip leader) from London market brokers which are deemed to be Slip Leader only or Slip Leader and Agreement Parties only according to GUA Marine Energy Schedule – June 2003. No authority is granted for All Underwriter endorsements.

– Decline business not deemed suitable for Kuwait Re where the account handler also deems the submission to be a “decline”.

– Ensure that the team meet company guidelines on the aggregations to ensure month reports are run on key exposure concerns.

– Negotiate with brokers and drawing up contracts;

– Gathering and assessing background information in order to effectively assess the risk involved;

– Use market, industrial and other sources to enhance awareness of technical factors and developments relevant to portfolio underwriting and the oil & gas industry generally.

– Assist with the developments and enhancements of underwriting systems where applicable.

– Keeping detailed and accurate records of risks underwritten and decisions made.

– Develops and maintains highly effective business relationships with assigned agents and brokers as well as internal and other external clients in order to attract, develop/grow and retain profitable business for the department.

– Attend market conferences and liaise with brokers and develop good working relationships with broking and support teams.

– Assist with any other duties required by the manager.

– Other responsibilities relevant to the functions of the department that may be assigned to you by the department manager from time to time.

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Underwriter / Senior Underwriter – Engineering Underwriting

Job Purpose:

Support the implementation of the Underwriting strategies, initiatives, and the day-to-day Underwriting operations at Kuwait Re in compliance with Kuwait Re Underwriting policies and procedures and in line with best practices.

 

Description:

– Support the implementation of all the Underwriting strategies and objectives of Kuwait Re as per the directions and under the supervision of the Head of Underwriting.

-Support the Head of Underwriting in implementing the entire Underwriting operations at Kuwait Re including the development, management, and maintenance of relationships with clients (cedents and brokers).

– Generate reports about the performance of the reinsurance underwriting practices highlighting the main issues pertaining to the underwriting division.

– Examine reinsurance proposals and calculate associated risks, and select appropriate and competitive premiums based on information and judgment and in accordance with Kuwait Re pricing policy.

– Collect background information and assessment of risk associated with the concerned business opportunity and judge whether to accept or reject accordingly and report for the head of underwriting for advice on complex cases.

– Draft reinsurance policies and terms, conduct background investigation, risk assessment and analysis, determine pricing of reinsurance policies and calculating premiums.

– Develop, manage, and maintain business relationships with clients (cedents and brokers), record and document all client information including historical transactions, and avail such information on the shared database of Kuwait Re for the use of other concerned divisions / departments e.g. Claims.

– Support business development efforts by identifying new products / business lines initiatives that allow for overall business growth of Kuwait Re in coordination with the Head of Underwriting.

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Underwriter / Senior Underwriter – Property Underwriting

Job Purpose:

Support the implementation of the Underwriting strategies, initiatives, and the day-to-day Underwriting operations at Kuwait Re in compliance with Kuwait Re Underwriting policies and procedures and in line with best practices.

 

Description:

– Support the implementation of all the Underwriting strategies and objectives of Kuwait Re as per the directions and under the supervision of the Head of Underwriting.

-Support the Head of Underwriting in implementing the entire Underwriting operations at Kuwait Re including the development, management, and maintenance of relationships with clients (cedents and brokers).

– Generate reports about the performance of the reinsurance underwriting practices highlighting the main issues pertaining to the underwriting division.

– Examine reinsurance proposals and calculate associated risks, and select appropriate and competitive premiums based on information and judgment and in accordance with Kuwait Re pricing policy.

– Collect background information and assessment of risk associated with the concerned business opportunity and judge whether to accept or reject accordingly and report for the head of underwriting for advice on complex cases.

– Draft reinsurance policies and terms, conduct background investigation, risk assessment and analysis, determine pricing of reinsurance policies and calculating premiums.

– Develop, manage, and maintain business relationships with clients (cedents and brokers), record and document all client information including historical transactions, and avail such information on the shared database of Kuwait Re for the use of other concerned divisions / departments e.g. Claims.

– Support business development efforts by identifying new products / business lines initiatives that allow for overall business growth of Kuwait Re in coordination with the Head of Underwriting.

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Underwriter – Treaty

Job Purpose:

Support the implementation of the Underwriting strategies, initiatives, and the day-to-day Underwriting operations at Kuwait Re in compliance with Kuwait Re Underwriting policies and procedures and in line with best practices.

 

Description:

– Reviewing new and renewal business; preparing detailed risk analysis and recommendations adhering to underwriting guidelines.

– Ability to price proportional and non-proportional treaties

– Develop and built relationship with cedant and brokers

– Ascertaining that all contract wordings complies with department guidelines and authority levels to ensure that it passes all audits.

– Assist in developing underwriting strategy and business plans to generate profitable portfolio

– Assist in treaty negotiations

– Analyse and monitor account experience and provide manager with guidance on any emerging issues.

– Managing relationships with existing and prospective clients and brokers

– Assist in quoting various treaties.

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