Engineering Facultative Underwriter - Reinsurance

The successful candidate will be responsible for underwriting and managing Engineering Facultative Reinsurance business originating from India and other approved territories, while maintaining underwriting discipline and supporting the Company's profitable growth strategy. During the initial phase of employment, the successful candidate will work closely with Santam's Head Office underwriting team. Underwriting decisions and recommendations will be subject to a peer review process to ensure alignment with Santam's underwriting philosophy, technical standards, and governance framework.

As the individual gains familiarity with Santam's underwriting guidelines and demonstrates consistent underwriting performance, an appropriate level of underwriting authority will be delegated in accordance with the Company's governance framework.\n\nThe selected candidate will report directly to the Principal Officer & Country Head – India Operations.\n\nWhat will make you successful?\nKey Responsibilities:\nUnderwrite Engineering Facultative Reinsurance risks in accordance with Santam's underwriting guidelines and delegated authority limits.\nAssess and underwrite risks including Construction All Risks (CAR), Erection All Risks (EAR) & Contractors' Plant & Machinery (CPM, and other engineering classes within the Company's underwriting appetite.\nAnalyse underwriting submissions, including technical information, project details, engineering reports, claims history, Munich Re or Indian Tariff policy wordings, and contractual documentation.\nEvaluate project risks, construction methodologies, contractor experience, and loss prevention measures.\nPrice risks and prepare underwriting recommendations.\nNegotiate terms, conditions, and pricing with brokers and cedants.\nDevelop and maintain strong relationships with brokers, cedants, and business partners.\nSupport business development initiatives and identify new underwriting opportunities.\nMonitor portfolio performance, profitability, and exposure management.\nEnsure compliance with IFSCA regulations, internal governance standards, and underwriting guidelines.\nWork closely with underwriting, actuarial, claims, finance, and operations teams.\nPrepare underwriting reports and management information for portfolio monitoring.\n\nQualifications & Experience:\n8–10 years of experience in Engineering Reinsurance Underwriting, preferably in Facultative Reinsurance.\nExperience with an international reinsurer, Lloyd's syndicate, or a global insurance/reinsurance organisation will be highly preferred.\nStrong technical knowledge of engineering insurance and reinsurance products.\nGood understanding of large infrastructure, power, energy, manufacturing, and industrial projects.\nExcellent negotiation, communication, and relationship management skills.\nStrong analytical and decision-making abilities.\nSelf-motivated with the ability to work independently in a dynamic and entrepreneurial environment.\nBachelor's degree in Engineering (Civil, Mechanical, Electrical, or equivalent) is preferred. Candidates with degrees in Commerce, Finance, Insurance, or related disciplines with relevant engineering underwriting experience will also be considered.\nProfessional qualifications such as FIII, ACII, CPCU, or equivalent will be an added advantage.\n\nSkills:\nEngineering Facultative Reinsurance Underwriting.\nTechnical risk assessment and pricing.\nConstruction and infrastructure project evaluation.\nPower, Renewable Power, BESS and industrial risk underwriting.\nFinancial and technical analysis.\nStrong broker and cedant relationship management.\nExcellent written and verbal communication skills.\nProficiency in Microsoft Excel, PowerPoint, and underwriting systems.