Assistant Underwriter

Join our team and build your career in specialist Marine Insurance 

Are you ready to continue your career in Insurance and be part of a dynamic, knowledge-driven team at a global market leader? MSIG Specialty Marine is looking for an enthusiastic Assistant Underwriter to become an essential part of our Yacht Underwriting team. In this role, you will provide vital support to the Yacht Underwriting team, contributing to effective underwriting operations, excellent broker service, robust portfolio reporting and strong business performance. 

The Opportunity 

As an Assistant Underwriter within the Yacht team, you will play a key role in supporting the underwriting and operational management of a diverse yacht portfolio. Working closely with Underwriters, Brokers and internal stakeholders, you will ensure accurate policy administration, data integrity, reporting and financial processes. The role offers excellent exposure to all aspects of yacht underwriting and provides an opportunity to develop technical, analytical and market-facing skills within a specialist marine insurance business. 

The role has two primary areas of focus: 

• Supporting the Yacht Underwriting team through policy administration, data management, broker servicing and underwriting operations. 

• Managing Lead Yacht reporting activities, including consortium bordereaux preparation, premium and claims reporting, reconciliations and associated accounting processes. 

This role would suit an individual looking to build a long-term career in underwriting within the marine and yacht insurance market. 

Key Responsibilities 

Underwriting Support: 

• Assist in preparing quotations, conducting risk screening and supporting the application of technical pricing models. 

• Maintain essential documentation and liaise with brokers to ensure smooth communication. 

• Support technical pricing administration and compliance-related queries. 

• Keep underwriting systems up-to-date and documentation well organised. 

• Assist underwriters in the processing of new business, renewals, endorsements, approvals and cancellations, ensuring accuracy and timely completion. 

• Support portfolio monitoring through production and analysis of management information, exposure data and underwriting performance metrics. 

• Support risk assessment activities through data gathering, quality control and exposure analysis.  

• Produce underwriting information packs, portfolio analysis and management information reports.  

• Ensure underwriting files meet regulatory, audit and internal governance requirements. 

Client Relationships & Excellent Service: 

• Build and maintain strong relationships with brokers and internal stakeholders. 

• Handle broker queries professionally, delivering high-quality and personalised service. 

Data Analysis & Portfolio Monitoring: 

• Analyse underwriting, premium and claims data to identify trends and support decision-making.  

• Produce regular management information and portfolio analysis reports.  

• Support monitoring of underwriting performance against agreed portfolio objectives.  

• Assist with data quality reviews and portfolio management initiatives. 

Lead Yacht Reporting and Financial Administration: 

• Record and reconcile premiums, claims and payments.  

• Maintain and reconcile Lead Yacht bank account transactions.  

• Prepare and process underwriting-related payments in accordance with delegated authority and approval procedures.  

• Produce monthly Consortium Bordereaux, including commission calculations and broker submissions.  

• Prepare premium and claims triangulations and other portfolio management information.  

• Provide cashbook and financial reporting data to Finance Operations.  

• Investigate and resolve reporting discrepancies and data quality issues.  

• Develop and maintain reporting tools and Excel-based management information.  

• Monitor and action underwriting controls, compliance reporting and operational KPIs. 

• Support the production and validation of delegated authority and consortium reporting data. 

Team Collaboration & Organisational Support: 

• Participate in knowledge sharing and companywide projects. 

• Facilitate smooth communication across departments and assist in resolving issues effectively. 

• Provide support for daily operational needs to strengthen the Underwriting team. 

Personal Development: 

• Progress towards completion of relevant qualifications. 

• Ensure own development and knowledge remain up to date. 

• Attend training courses as required. 

• Assist in the training of new and junior staff as required. 

Who we are looking for 

We are seeking an organised and numerate individual who enjoys working with data, has strong attention to detail and is keen to develop a career in underwriting. The successful candidate will be comfortable managing multiple priorities, building relationships with brokers and colleagues, and taking ownership of reporting and operational processes within a busy underwriting environment. 

Key Competencies: 

Essential 

• Strong Microsoft Excel skills, including formulas, pivot tables, data analysis and reporting; experience working with large data sets would be advantageous. 

• Excellent attention to detail and strong analytical and numerical skills. 

• Strong organisational and time management skills. 

• Effective written and verbal communication skills. 

• Ability to prioritise workload and meet deadlines. 

• Strong administrative and data management capability. 

• Team-oriented with a collaborative approach. 

• Customer and service focused mindset. 

Desirable 

• Previous insurance, underwriting support or broker operations experience. 

• Experience using policy administration, underwriting or insurance systems. 

• Knowledge of marine or yacht insurance. 

• Experience producing bordereaux, reconciliations or financial reporting. 

• Progress towards or willingness to undertake CII qualifications. 

Skills & Experience 

• Experience within insurance, underwriting support, broker operations, delegated authority administration or financial administration would be advantageous. 

• Confident working with large volumes of data and maintaining data quality. 

• Experience in marine, specialty or Lloyd's market insurance would be advantageous but is not essential. 

What we offer 

This role offers a unique opportunity to gain hands-on experience across underwriting, portfolio management, reporting and delegated authority operations within a leading specialist yacht insurer. Successful candidates will develop a broad understanding of the yacht insurance market whilst building the technical and commercial skills required for future career progression within underwriting. 

In addition, we offer: 

• A stimulating full-time position in an international environment. 

• The opportunity to build a rewarding career within a knowledge driven organisation. 

• Competitive salary with a comprehensive benefits package. 

• Flexibility to support work-life balance (Hybrid working arrangements are available in line with company policy). 

• A vibrant, supportive team that values continuous professional growth. 

• Structured learning and development opportunities, including support towards CII qualifications. 

• Exposure to specialist yacht underwriting and opportunities for career progression within the underwriting function. 

• Access to experienced market professionals and mentoring from senior underwriters. 

• Opportunity to develop technical underwriting knowledge within a specialist yacht portfolio.