Property Facultative Underwriter

Description

Job Summary: MAPFRE RE is seeking a Property Facultative Underwriter for an international and highly technical environment focused on industrial risk analysis and strategic decision-making. Key Highlights: 1. Technical analysis and underwriting of complex Property Facultative risks. 2. Portfolio management, technical control, and performance monitoring. 3. Liaison with cedants and brokers, technical-commercial support. **MAPFRE RE**, a professional reinsurer within the MAPFRE Group and one of the world’s leading reinsurers, seeks to hire a Property Underwriter to join its Underwriting Lines and Facultative Department, based in Madrid (Spain). The position operates within an international, highly technical, and specialized environment, involving direct exposure to complex industrial risks and strategic underwriting decisions. **Responsibilities** As part of the Underwriting Department for the Property line, the selected candidate will perform, among others, the following responsibilities: **Risk Underwriting and Technical Analysis** * Analyze and underwrite Property Facultative risks by evaluating inspection reports, production processes, insured assets, construction materials, active and passive protection measures, exposure to natural catastrophic risks, historical loss experience, operating accounts, and operational structure. * Assess the appropriateness of insurance terms, limits, sub-limits, deductibles, and exclusions, ensuring consistency between assumed risk level and expected profitability. * Review quotations and proposals submitted by Management Centers and decide on acceptance, modification, or rejection of risks in accordance with internal guidelines, technical criteria, and authorized underwriting limits. **Portfolio Management and Technical Control** * Manage the assigned portfolio, ensuring its technical balance, profitability, and accumulation control—both per risk and per event. * Monitor technical results, significant claims, portfolio deviations, business indices, and catastrophic exposures, proposing corrective actions when necessary. * Participate in the management and monitoring of significant claims from a technical and learning perspective to continuously improve underwriting practices. **Technical-Commercial Liaison and Support** * Maintain fluent and technically sound communication with cedants and brokers in assigned markets, contributing to the development and consolidation of long-term commercial relationships. * Respond to technical inquiries regarding risks, coverages, and contractual conditions, ensuring a high service standard. * Analyze and evaluate exceptions, policy condition modifications, or elevated referrals for potential acceptance or rejection. **Technical Governance and Function Development** * Actively participate in drafting, reviewing, and maintaining technical underwriting standards, risk appetites, and internal procedures. * Contribute to internal underwriting audits and quality improvement initiatives. * Participate in developing, maintaining, implementing, and training on internal underwriting tools, accumulation control systems, and risk analysis platforms. * Promote knowledge management—both internally and externally—through training, technical documentation, and participation in cross-departmental initiatives led by the Underwriting Department. **Contractual Analysis** * Provide the Underwriting Department’s technical expertise in analyzing contracts, clauses, exclusions, coverage extensions, and special conditions applicable to Property business, assessing their impact on effective risk transfer. * Analyze and provide opinions on special acceptances, non-standard conditions, and exceptions to Technical Underwriting Standards, ensuring alignment with the Company’s risk appetite, technical criteria, and profitability objectives. * Identify and mitigate potential contractual gaps, implicit accumulations, or adverse impacts in claim scenarios, coordinating with technical and legal departments as required. **Requirements** * University degree in Industrial Engineering or another related technical discipline. * High level of English (C1), essential for international communication; knowledge of additional languages is a plus. * Prior experience in: * Underwriting of industrial risks. * Risk management, risk engineering, damage claims appraisal, or handling of material damage claims. * Insurance or reinsurance environments, especially in Property lines. * Advanced office software skills, particularly in information analysis and management tools. * Willingness to travel occasionally. **Key Competencies** * Analytical thinking and synthesis capability. * Rigorous analysis and technical decision-making. * Customer orientation and commercial sensitivity with a technical focus. * Attention to order, quality, and risk control. * Teamwork and cross-functional collaboration. * Project-based work and prioritization ability. * Commitment, responsibility, and professional autonomy. * Mindset of continuous improvement and technical innovation.