Engineering Facultative Underwriter – Reinsurance

Engineering Facultative Underwriter – Reinsurance Location: GIFT City, Gandhinagar, Gujarat, India Company: Santam Ltd. IIO – GIFT City What will you do? Santam Ltd.

IIO is seeking an experienced Engineering Facultative Underwriter to join its GIFT City office. 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. The selected candidate will report directly to the Principal Officer & Country Head – India Operations.

What will make you successful? Key Responsibilities: Underwrite Engineering Facultative Reinsurance risks in accordance with Santam's underwriting guidelines and delegated authority limits. Assess 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.

Analyse underwriting submissions, including technical information, project details, engineering reports, claims history, Munich Re or Indian Tariff policy wordings, and contractual documentation. Evaluate project risks, construction methodologies, contractor experience, and loss prevention measures. Price risks and prepare underwriting recommendations.

Negotiate terms, conditions, and pricing with brokers and cedants. Develop and maintain strong relationships with brokers, cedants, and business partners. Support business development initiatives and identify new underwriting opportunities.

Monitor portfolio performance, profitability, and exposure management. Ensure compliance with IFSCA regulations, internal governance standards, and underwriting guidelines. Work closely with underwriting, actuarial, claims, finance, and operations teams.

Prepare underwriting reports and management information for portfolio monitoring. Qualifications & Experience: 8–10 years of experience in Engineering Reinsurance Underwriting, preferably in Facultative Reinsurance. Experience with an international reinsurer, Lloyd's syndicate, or a global insurance/reinsurance organisation will be highly preferred.

Strong technical knowledge of engineering insurance and reinsurance products. Good understanding of large infrastructure, power, energy, manufacturing, and industrial projects. Excellent negotiation, communication, and relationship management skills.

Strong analytical and decision-making abilities. Self-motivated with the ability to work independently in a dynamic and entrepreneurial environment. Bachelor'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. Professional qualifications such as FIII, ACII, CPCU, or equivalent will be an added advantage. Skills: Engineering Facultative Reinsurance Underwriting.

Technical risk assessment and pricing. Construction and infrastructure project evaluation. Power, Renewable Power, BESS and industrial risk underwriting.

Financial and technical analysis. Strong broker and cedant relationship management. Excellent written and verbal communication skills.

Proficiency in Microsoft Excel, PowerPoint, and underwriting systems.