Underwriter II - Energy Transition Lloyd's

Overview

AXA XL is looking for an Underwriter with experience in writing Renewable risks as part of an overall energy transition (ET) business portfolio. The energy transition is integral to the drive towards a more sustainable global economy. Supporting the transition is a key part of our climate and sustainability strategy at AXA XL. AXA XL’s energy transition work begins with the energy portfolio but is a drive that affects the entire economy.

There are three pillars that our energy transition activities and ambitions must straddle: products and services; distribution; and capability and learning and development.

This is a difficult area for underwriting; it will require an agile mindset, balancing a portfolio approach with the fundamentals of underwriting, whilst maintaining a keen eye on profitability. The right candidate will be able to draw upon a solid background of technical underwriting in engineering/renewables/power, or a similarly complex line of business.

AXA XL has been underwriting coverage for renewable energy projects, particularly solar, wind and hydroelectric operations, for some years. We are actively working with clients to provide coverage for a wide range of renewable energy technologies and operations, from windfarms to hydrogen production, to bioenergy to carbon capture underground storage (CCUS) and many others. You will have the support of highly qualified Energy Transition risk engineers and actuaries to keep abreast of the latest developments in technology and to help quantify and price these risks.

You will also be working alongside an established team of Upstream, Downstream, Power and Construction underwriters. The ET book will be the cornerstone to helping to meet AXA XL’s net-zero underwriting goals and a key contributor to its wider energy transition journey.

It will be important to be visible and approachable to brokers and clients alike. Effective verbal and written communication skills, along with collaborative behaviour, will be essential to the role. This is a regulated role under the Central Bank of Ireland’s Fitness and Probity regime.

As an Underwriter II, you will be responsible for delivering a profitable “Underwriting” service to your clients. Your key tasks include underwriting business within the agreed business plan and individual authority; supporting the business planning and forecasting process; monitoring financial exposure within outlined limits; monitoring premium income to ensure it remains within set limits; maintaining awareness of all claims advised while supporting and providing input on settlement of claims;

ensuring adequate reinsurance acquired to cover specific risks; building and maintaining relationships with brokers and clients; supporting the design and structure of risks.

What will your essential responsibilities include?

• Reviewing submissions including applications, policy wording, inspection reports, loss runs, and financial reports while conducting appropriate research to determine degree of risk for each account.
• Calculating appropriate risk premium by considering the risk costs inherent to the Energy sector, reinsurance cessions as well as the Underwriting and general administration costs while ensuring profitability.
• Proactively advising, assisting, servicing and following up with clients on insurance and risk management matters to ensure satisfaction and fulfillment of their insurance requirements.
• Effective relationship management to initiate opportunities for cross-selling offered products and ensuring account retention
• Controlling timely implementation of new and renewed accounts according to quality standards.
• In coordination with other internal teams, determining appropriate reinsurance for risk placements both on excess of loss and quota share basis.
• Reviewing loss control reports and managing policy endorsement requests to process any necessary changes to the policy
• Support the business planning and forecasting process; monitor financial exposure within outlined limits; monitor premium income to ensure it remains within set limits.
• Maintain awareness of all claims advised while supporting and…