What is underwriting?

Underwriting: Analyse risks. Design solutions.

In our reinsurance business, underwriting is the process of deciding whether to accept a risk and write a reinsurance contract. It also involves negotiating and concluding contracts and supporting our clients.

Discover our underwriting profession and the opportunities it offers.

Here at Hannover Re, our underwriting team analyses insurance markets, financial ratios and the legal and regulatory framework. We also assess reinsurance requests from our clients, i.e. other insurance companies, evaluate risks and calculate appropriate premiums. We design tailored reinsurance solutions, negotiate reinsurance treaties directly with our clients or through brokers - and then write them. We also travel directly to our clients to give them the personal attention they deserve – anywhere in the world.

We provide traditional Property & Casualty (P&C) reinsurance, such as life, health, pension and accident business, broken down by region and grouping countries together according to linguistic or cultural aspects. We have grouped highly specialised reinsurance products into separate lines, such as transport, aviation and space risks, or the underwriting of exposed risks such as oil rigs. Our Life & Health (L&H) segment underwrites global life and health reinsurance business.

"What does the US election mean for wind turbines in Europe? What role does it play in corporate investment decisions? And what are our local customers saying about it? From political and economic analysis to personal interaction – working at Hannover Re is different!"

The competencies we use here

Our work is as diverse as the people who make up our team. Knowledge of risk calculation for reinsurance solutions and the valuation of insurance portfolios is a natural fit. But general skills such as customer and service orientation, or dialogue and negotiation skills are also good foundations. 

Even if you have not yet been involved in underwriting, your previous roles may provide a good foundation: if you have experience in healthcare, cyber security, or as a civil engineer, mathematician or lawyer, your skills can be put to good use with us.

We value these skills:

  • Several years' experience in a (re)insurance company in product management or underwriting, or professional experience in an area where you can take over underwriting as a specialist. 
  • Willingness to acquire or develop market, technical and product knowledge as quickly as possible 
  • Marketing and project management skills, including experience with international and agile teams or networks 
  • Willingness to work independently, decision-making ability, sense of responsibility, and entrepreneurial and analytical thinking 

By the way, you don't need to have all these skills. You can find out more about our specific requirements in our current vacancies.

Yes, we're hiring

Take a look at our current vacancies. You never know, you could be part of our team soon. We look forward to your application.

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Are you interested in varied tasks and real opportunities for advancement? There are plenty of them with us. Get in touch!

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