Corporate Engineering & Energy Underwriter | Munich Re Careers

Munich Re

Company Name: Munich Re
Company Website:
Job Type: Full-time
Job Location: New York, NY
Job Posted Date: 01-02-2023
Posted on:

Job’s Overview:

Munich Re is seeking a Corporate Engineering & Energy Underwriter in New York, NY. Please take a moment to read the job post below if you are interested:

  • We will consider location this position in: New York City, Atlanta, San Francisco, Houston and Chicago.

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.

The 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.

The Opportunity

Future focused and always one step ahead.

The Engineering & Energy business units of Munich Re F&C (Facultative & Corporate) 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 Munich Re F&C (MRF&C) North America Corporate Engineering & Energy team, we are looking for a qualified Construction underwriter who will be tasked with underwriting large builders risk placements. The underwriter is to be based in either New York, Chicago, Houston or San Francisco.

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) North America Corporate Engineering & Energy Division of Munich Re. Determine the appropriate terms and conditions and to 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 MRF&C NA Corp. Engineering & Energy clients and so contribute to its overall profitability.


  • Builders Risk underwriting for a variety of civil, energy and power construction projects per risk appetite through contacts with 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 when necessary motivate modifications of it.
  • 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.
  • Develop and support new products and filings to satisfy client needs by using depth of underwriting background/experience for program development.
  • Enhance policy forms and rating tools as well as being innovative with respect to distribution channel choices. For example, to consider the use of finite risk products and dual trigger products for Engineering & Energy risk-related exposures.
  • 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.
  • Relative to losses: track and monitor loss development for construction the Construction portfolio including keeping current on industry loss trends and work with the Claims department as needed.


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

Seminars and 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, so providing technical input as well as sourcing key market knowledge.
  • Assist the Manager, Property Engineering & Energy as and when required in fulfilling all managerial and administrative duties of the MRF&C North America Corporate Engineering & Energy.

Qualifications include:

  • Preferred Mechanical/Chemical/Electrical/Civil Engineer or English, Economics and business (preferably with a Bachelor’s Degree) or related with a minimum of 5 years practical industry experience.
  • Good understanding of the US Builders’ Risk insurance market with an established network of Engineering and Construction brokers.
  • Entrepreneurial mindset and can- do attitude; focus on execution.
  • Good ability to work cross functionally, cross-culturally; Loss Control Engineering, Claims, Underwriting Analysts, other Engineering teams in London, Munich and globally.
  • Knowledge of internal processing procedures and systems would be beneficial.
  • Negotiation and relationship marketing skills.
  • Strong computer skills
  • Excellent verbal/written, language and communication skills
  • Ability to travel nationally and internationally.
  • Management/leadership skills.

The salary range posted below applies to the Company’s NYC and San Francisco locations.

The base salary range anticipated for this position is $104,600 –$208,800, plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC and San Francisco. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company – that’s among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.

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 you stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

Getting the Corporate Engineering & Energy Underwriter designation comes with some responsibilities. It would be a wise idea to take a few minutes to learn more about it so you can make an informed decision.

Applicants must meet the above-mentioned requirements in order to qualify for consideration to work as a Corporate Engineering & Energy Underwriter .

By clicking on the apply now button, you will be redirected to the official recruitment website where you can fill out your application.