Head of Marine and Specialty

𝐉𝐎𝐁 𝐒𝐔𝐌𝐌𝐀𝐑𝐘

As the Head of Marine and Specialty, you will be a strategic leader, fully responsible for the profitable growth and complete oversight of the Marine and Specialty insurance lines. This includes developing strategies, driving market expansion, and innovating products. You’ll also lead and develop a high-performing team of underwriters. This role demands strong expertise in underwriting, portfolio management, compliance, and financial performance, with the authority to make key decisions shaping these critical business segments.

𝐐𝐔𝐀𝐋𝐈𝐅𝐈𝐂𝐀𝐓𝐈𝐎𝐍𝐒, 𝐒𝐊𝐈𝐋𝐋𝐒 & 𝐄𝐗𝐏𝐄𝐑𝐈𝐄𝐍𝐂𝐄:

• Bachelor’s degree in Business, Insurance, Maritime Studies, Engineering, or related field
• Preferred: Master’s degree or certifications (e.g., ACII, CPCU)
• 15+ years of progressive experience in the insurance industry, focused on Marine and Specialty lines
• Expertise in underwriting principles, pricing, and reinsurance for Marine and Specialty risks
• Strong knowledge of operational risk, regulatory compliance, and internal controls
• Proven leadership in managing teams and developing insurance portfolios
• Familiar with local and international insurance markets and regulatory environments
• Skilled in strategic decision-making and solving complex problems
• Excellent communication, negotiation, and stakeholder management abilities
• Proficient in digital tools, workflow systems, and performance analytics

𝐉𝐎𝐁 𝐑𝐄𝐒𝐏𝐎𝐍𝐒𝐈𝐁𝐈𝐋𝐈𝐓𝐈𝐄𝐒:

Strategic Leadership & Business Development

This role is responsible for developing and executing the overall strategy and business plan for Marine and Specialty lines, ensuring alignment with company goals. This includes identifying new market opportunities, product development, and distribution channels to drive profitable growth. The leader must also monitor market trends, competitor activities, and regulatory changes to maintain a competitive edge. A key aspect is establishing and managing underwriting guidelines, pricing strategies, and risk appetite, while also building strong relationships with brokers and clients and representing the company at industry events.

Underwriting & Portfolio Management

The leader oversees the entire underwriting process, ensuring adherence to best practices. This involves monitoring and analyzing portfolio performance, identifying areas for improvement, and implementing corrective actions. They are also responsible for ensuring appropriate reinsurance arrangements are in place and conducting regular portfolio reviews and risk assessments to optimize profitability and manage exposure. Staying updated on technical underwriting developments is crucial.

Team Leadership & Development

A significant part of the role involves leading, mentoring, and developing a high-performing team of underwriters and specialists. This includes setting clear expectations, providing feedback, conducting appraisals, and fostering a collaborative and results-oriented environment. Identifying training needs and promoting continuous learning are also key responsibilities.

Compliance & Governance

The leader ensures all business activities comply with relevant regulatory requirements and internal policies. They must have a strong understanding of local and international insurance regulations affecting Marine and Specialty lines and contribute to the development of internal controls and risk management frameworks.

Financial Performance & Reporting

This involves developing and managing the budget for the department, monitoring key performance indicators (KPIs), and providing regular reports on portfolio performance, profitability, and growth. The leader also contributes to overall financial planning and forecasting processes.

Decision-Making Authority / Judgmental Complexity

• The role holds significant decision-making authority across several critical areas:
• Underwriting: Setting guidelines, approving risks within delegated authority, and determining pricing strategies.
• Business Development: Identifying new opportunities, developing partnerships, and negotiating terms.
• Portfolio Management: Implementing strategies to optimize performance, managing reinsurance, and taking corrective actions.
• Team Management: Decisions related to team structure, resource allocation, performance, and professional development.
• Budget Management: Managing the departmental budget and approving expenditures.
• Strategic Initiatives: Contributing to and implementing strategic initiatives for the Marine and Specialty lines.

Kindly get in touch with Umar Farooqui – I for a confidential discussion