Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups. Headquartered in London, with international hubs in Copenhagen, Dubai, Miami, Dublin, Singapore, Sydney and Bermuda, to be closer to our clients across the world. To learn more about us please visit our website www.chaucergroup.com.
Job summary
Play a key role in the Delegated Authority Centre of Excellence (DA CoE) team, bringing together the Group’s DA portfolio. The role will involve overseeing and supporting across all of the Group’s delegated authority relationships, including MGAs, binders, lineslips and consortiums. This will include performance reviews, oversight and review of new and renewal business, driving the DA strategy forward and working closely with the DA Oversight team with regards to DA compliance, administration, operational, and governance. Building strong relationships with the underwriting teams, the Head of DA CoE and the Head of DA Oversight, the role will also include membership on the DA Underwriting Committee, while taking ownership of the DA ‘virtual’ P&L.
Main duties
- Take responsibility for designing, building and implementing the underwriting focused DA framework across the Group, including the Cross Selling of products via MGAs
- Proactively support the on-boarding of DA business, working with underwriters and the DA Oversight team
- Help shape the Group’s DA strategy and take responsibility for embedding this across all lines of business
- Develop, maintain and monitor ‘best practice’ across all aspects of DA underwriting and work closely with the DA Oversight team on non-underwriting, supporting a culture of continuous improvement
- Supporting the Group’s DA data, MI and analysis ambitions
- Design and implement DA MI and reports across the relevant Group and entity committees, as well as for use by the DA CoE, underwriters and senior management
- Implement DA ‘virtual’ P&Ls at a Group, entity and divisional level, taking responsibility for each
- Coordinating and overseeing the mid-year assessment of MGAs (and other DA methods of placement), in relation to performance and compliance/best practice
- Help drive the DA Underwriting Committee (DAUC) and DA Underwriting Working Group forward, with clear aims and robust review and approval processes
- Take responsibility for, or assisting with, ad hoc projects relating to Delegated Authorities
- Where necessary, attending broker and client meetings and building a rapport with brokers and MGAs
- Help the Group improve our position from an MGA pricing and rate change perspective, working closely with our Pricing team
- Help the Group improve our position from an aggregate management and monitoring perspective, working closely with our Exposure Management team
- Supporting with the building of business cases for writing new lines of business (via MGAs) and obtaining coverholder approvals
- Working with the Head of DA Oversight and their team to enhance the oversight and controls framework
- Act as a conduit between the DAUC and the underwriters, utilising the Monthly DA Underwriters Meeting
- Carry out market analysis in relation to DA business and best practices
- Communication of the DA Strategy and underwriting stance and changes and improvements proposed
- Support our Innovation team in relation to new and existing MGAs
- Support and influence the DA training program
- Support the Active Underwriters of 1084 and 1176 in relation to all DA Lloyd’s/PBO matters, as well as the Head of Underwriting at CIC in relation to Central Bank of Ireland (CBI) matters
Regulatory responsibilities
- Comply with all policies and procedures and ensure that due regard is paid to providing good customer outcomes and the fair treatment of customers.
- Compliance with Lloyd’s Byelaws and Minimum standards
- Compliance with FCA and PRA requirements (UK Regulator)
- Compliance with Central Bank of Ireland (Irish Regulator)
- Ensure all Chaucer Group Product Governance processes in the UCM are followed
Relevant experience
- MGA and binder experience, ideally from a Syndicate / Managing Agent / Lloyd’s of London perspective
- Knowledge of Lloyd’s DA regulation with regards to binders
- Insurance knowledge, ideally across multiple lines of business
- Strong presentation skills, including Excel and Powerpoint
- Analytical and strategic approach
- DCOM and ATLAS knowledge, although not essential
- ACII
Personal skills
- Excellent organisational skills
- Excellent communication skills with the ability to liaise at all levels
- Adapt to a pressured environment
Why Join Chaucer?
Chaucer is a leading global insurer operating in both Lloyd’s and company markets, helping industries worldwide manage risk-from nuclear, shipping, manufacturing, and property. Headquartered in London, with offices in Copenhagen, Bermuda, Sydney, Ireland, Miami, Dubai, and Singapore, we’re close to our clients wherever they are.
We have shown strong financial success with our Gross Written Premiums growing from $1.4bn in 2019 to $3.5bn in 2024. Backed by strong teams, platforms, and client relationships, Chaucer is poised for continued success.
We offer:
A flexible hybrid work model that supports individual and team needs.
A diverse, inclusive culture that values people for who they are.
Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.
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