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President and CEO Munich Re Specialty Insurance

New York City, NY, USA | Munich Re Group

  • Industry:
    Insurance - General
  • Position Type:
  • Functions:
    Business Development
  • Experience:
    15-20 years
Job Description:
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Your job

*We will consider Philadelphia and New York City as locations for this role.

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America.

We are searching for someone to provide leadership, direction, and management of the organization in the establishment and achievement of its short and long-term objectives, envisioning growth, profit, and return on capital for Munich Re Specialty Insurance (“MRSI”) Business. This person is responsible for effectively driving and implementing the strategic initiatives and policies in accordance with the direction established by the local Board of Directors and the global Board of Management. They will communicate on behalf of the Company to parent company/shareholders, employees, Government authorities, other stakeholders and the public.

Responsibilities include:

  • Responsible for the oversight, management and continuing build-out of all specialty insurance company operations which are part of the remit of MRSI. This includes multi-prong businesses with multi-prong business units, and all functions of a primary insurance company, such as underwriting, claims, administration, distribution management, product development, risk management, state filings, policy issuance, reporting and technical services.

  • Motivates and leads a diverse, high-performance management team: Fosters a success-oriented, accountable environment within the Company and ensures that operations are executed in accordance with organization’s policies.

  • Lead and direct the strategic and annual planning process to ensure maximum profit and growth through the MRSI Business.

  • Lead, develop, and drive profitability in all client segments now and in the future, including Excess & Surplus, Specialty Programs, Binding, Public Entity, Digital Partners and other specialties.

  • Enable and champion innovative problem solving and nontraditional approaches to providing risk solutions while reviewing all aspects of a client’s operation and provide insight for profitability, growth and financial stability.

  • Champion the development of a state-of-the-art IT platform to accommodate all specialty lines.

  • Acts as member of the leadership team for Global Specialty Insurance.

Your profile

Qualifications include:

  • Bachelor’s degree in business, accounting, finance or related field.

  • 15+ years of insurance experience including prior senior-level managerial experience.

  • Previous experience in business development, leadership, strategic planning and operations management skills that have led to the creation and continuity of a strong and stable team.

  • Demonstrates critical competencies in following four categories: commitment to results, business savvy, leading innovation and change, and motivating.

  • In-depth knowledge of the evolving markets and insurance industry.

  • Expertise in compliance and US insurance regulations and possess a solid knowledge of underwriting, operations, distribution management, finance, business development and marketing as well as a strong community involvement.

  • Demonstrated leadership in performance management and team building.

  • Demonstrated skill in analyzing and solving issues or problems.

  • Exhibit strong verbal and written communication skills.

  • Demonstrated skill in financial management, forecasting, and reporting.

  • Strong negotiation expertise.

  • Travel within the US as well as internationally is required.

  • The Company is open to considering candidates in multiple locations, including NYC. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $722,740 - $993,760, plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

About us

Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

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