Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.
Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world’s fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.
Job Summary: We are seeking an experienced and dynamic Profit Center Manager to build and lead our Private Equity division within our commercial insurance company. The ideal candidate will have 10-15 years of underwriting experience, proven leadership skills, and the ability to build and manage a high-performing team. This role will report directly to the SVP of Middle Market and will be responsible for driving profitability, growth, and operational excellence within the Private Equity sector.
Key Responsibilities:
Leadership and Team Building:
- Lead, mentor, and develop a team of underwriters and support staff to achieve business objectives.
- Manage Sr. Advisor -Investments, focused on developing private equity firm relationships.
- Foster a collaborative and high-performance culture within the team.
- Identify and recruit top talent to build out the Private Equity division.
Strategic Planning and Execution:
- Develop and implement strategic plans to drive growth and profitability in the Private Equity sector.
- Analyze market trends, competitive landscape, and emerging risks to inform business strategy.
- Collaborate with senior leadership to align the division's goals with the overall company objectives.
Underwriting and Risk Management:
- Oversee underwriting activities to ensure adherence to company guidelines and risk appetite.
- Review and approve complex underwriting submissions and provide guidance on risk selection.
- Implement best practices and continuous improvement initiatives to enhance underwriting quality and efficiency.
Client and Broker Relationships:
- Build and maintain strong relationships with key clients, brokers, and other stakeholders dedicated to the Private Equity channel.
- Develop new and nurture existing private equity firm relationships alongside business development leader.
- Develop and execute strategies to expand the client base and enhance customer satisfaction.
- Represent the company at industry events, conferences, and meetings.
Financial Management:
- Monitor and manage the financial performance of the Private Equity division, including budgeting, forecasting, and reporting.
- Identify opportunities to optimize profitability and operational efficiency.
- Ensure compliance with regulatory requirements and internal policies.
Innovation and Product Development:
- Drive innovation in product offerings and underwriting approaches to meet the evolving needs of the Private Equity market.
- Collaborate with product development teams to create and launch new insurance products.
Qualifications:
- Bachelor's degree in Business, Finance, Insurance, or a related field; advanced degree or professional designations (e.g., CPCU, ARM) preferred.
- 10-15 years of underwriting experience in the commercial insurance industry, with a focus on Private Equity or related sectors.
- Proven leadership experience with a track record of building and managing high-performing teams.
- Strong strategic thinking and analytical skills, with the ability to make data-driven decisions.
- Excellent communication and interpersonal skills, with the ability to build relationships and influence stakeholders at all levels.
- In-depth knowledge of underwriting principles, risk assessment, and insurance products.
- Strong financial acumen and experience in managing budgets and financial performance.
- Ability to thrive in a fast-paced, dynamic environment and adapt to changing market conditions.
Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.
