Senior Underwriter Construction (m/f)

We are looking for a Senior Underwriter Construction, based in Madrid.
Your Team
Allianz Commercial specializes in providing comprehensive and customized insurance services and solutions for clients across the entire construction industry. As industrial specialists, we have a long-standing tradition of supporting our clients with their construction risks, both in the Spanish market and in global risk insurance placements, on a lead and follow basis.
Allianz Commercial's highly experienced underwriters have a proven track record of finding flexible solutions to the challenges brokers and their clients face. We have expert global construction insurance teams, backed by Allianz Commercial's market-leading capacity and our ability to underwrite risks in over 200 countries and territories. Our underwriters are also able to deploy significant capacity on a global scale.
The Impact You Will Have
Reporting to the Team Leader of Construction, you will underwrite profitable new and renewal business to meet the regional targets of the Construction Line of Business (LoB), in accordance with underwriting guidelines and underwriting authority. You will negotiate terms and conditions and take ownership of your own key accounts/clients as well as develop and maintain strong relationships with our broking and client partners in co-ordination with our distribution / client relationship team.
Some of your specific responsibilities will include:
* Underwrite new business and renewal accounts to meet top and bottom-line targets in line with Underwriting Guidelines.
* Negotiate participation, pricing, terms and conditions with brokers. Proactively manage regional portfolio capacity.
* Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of nat cat scenarios.
* Underwrite in line with LoB governance framework - e.g. underwriting authorities, global underwriting guidelines, rules and principles.
* Ensure contract certainty is achieved on all accounts at time of inception.
* Ensure utilization of global pricing tools.
* Contribute to development and execution of regional Underwriting strategy for the Line of Business (LoB) and support key business initiatives.
* Maintain and generate new client and broker relationships.
* Contribute to internal key projects.
* Ensure file is established and maintained for each risk and transaction.
* Assist with the learning and development of more junior team members.
* Proactively support completion of policy administration and credit control processes.
* Positively represent Allianz Commercial externally to the market.
What You'll Bring to the Role
* Preferably a degree in Engineering, Finance, Insurance, Risk Management, Economics or other appropriate discipline.
* A minimum of 5 years' proven track record in underwriting profitable engineering lines and construction business. In depth understanding of LoB products and portfolio.
* Specialized understanding of regional/local LoB insurance markets and competitor landscape.
* Demonstrable, established relationships with brokers at peer group level and well-established within the market.
* Good understanding of legal and regulatory framework.
* Ability to assess risk inherent exposures and natural hazards relevant to LoB.
* Ability to design, develop and implement consistent and robust wordings.
* Ability to manage portfolio and analyze trends and loss scenarios.
* Excellent analytical skills to analyze highly complex data, from multiple sources.
* Excellent communication skills with the ability to persuade and motivate others.
* Ability to integrate AI-driven insights into your work to optimize outcomes and support broader organizational goals.
* Fluent English and Spanish language.
81992 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent
What's in it for you?
Let's care about everything that makes you, you
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.
Let's care for your financial wellbeing
We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.
Let's care for your opportunities to progress
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.
Let's care for life's twists and turns
From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.
Let's care for our society and our planet
With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.
Care to join us?
Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.
Learn more about careers at Allianz Commercial by clicking here.
Learn more about Allianz Commercial by clicking here.
At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.
We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.
Join us. Let's care for tomorrow.
People with disabilities:
We want to give all our candidates the best opportunity to succeed.  If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com
Recruitment Agencies:
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly.  Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters.  Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired.  When we do use agencies, we have a PSL in place, so please do not contact managers directly. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid.
#LI-CP1
#LI-Hybrid