Underwriters at Munich Re

Underwriters at Munich Re transact reinsurance business. They assume the risks primary insurers cannot or do not want to carry themselves. They analyse and develop business potential, negotiate with insurers about the terms and conditions and the price of reinsurance cover, and accept certain risks on behalf of Munich Re.

Underwriters design reinsurance programmes tailored to the clients' needs. They try to assess the risks as accurately as possible in order to quote a fair price. In addition, legal requirements may differ from country to country, and have to be taken into account.

An underwriter's duties are varied and can be categorised into four pillars:

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  Technical analysis (assessing original policy risk)
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  Legal assessment (drafting/analysing policy wordings)
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  Business know-how (developing client strategies)
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  Actuarial (pricing reinsurance covers)