Head of Business Development

About UK Life Branch:

With our head office in Munich, the UK Life Branch (UKLB) is based in 1 Fen Court, London. The UK life market is one of the, if not the, most competitive life markets in the world. Life insurers work in a dynamic market where medical advancements, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is further challenged by changing regulations and ever tougher competitive competition. With modest long-term growth, decreasing number of insurers, and an over supply of reinsurers, we need an effectively executed, smart strategy, in order to succeed.

About the Role:

The Head of UK Business Development role is a pivotal and influential position within the UK Protection division. As part of the Protection Leadership Team, you will report to the Head of Protection on the UK ExCo. With a strong understanding of the UK advised Protection market, you will be responsible for shaping and delivering the new business strategy, identifying sustainable and profitable opportunities in line with agreed strategy and risk appetite.

In a market facing modest long-term growth, continued consolidation of insurers, and oversupply of reinsurers, this is a challenging and rewarding opportunity. Success will come from developing yourself and a diverse team of Business Developers, and from collaborating across disciplines - with actuaries, underwriters, claims specialists, and other experts. Progress will be achieved through collective effort, not individual contribution alone.

Key Responsibilities:

Business Management and Strategy

• Protect and grow the UK in-force business, ensuring alignment with commercial appetite, IFRS, VNB metrics, and other relevant measures.
• Design and deliver clear client strategies and objectives that support UKLB and Protection priorities, through best-in-class client management.
• Build and manage an active new business pipeline aligned with UKLB and Protection strategy, overseeing an effective quote process to achieve optimal commercial outcomes.
• Analyse complex client and industry situations, presenting clear options, solutions, risks, and actions to safeguard the bottom line and foster sustainable partnerships.

Team Leadership and Development

• Support and develop the Business Development team to meet financial targets and personal growth aspirations through coaching, training, and constructive feedback, delivered respectfully.
• Motivate the team to demonstrate a growth mindset, resilience, and excellence, aspiring to be "best in class" in the market.
• Foster an inclusive, collaborative, and inspiring team culture, creating a safe and supportive environment that encourages learning, diversity, and high performance.
• Ensure the team operates in line with the UK regulatory environment, UKLB risk appetite, pricing basis, legal requirements, and other relevant standards.

Operational Excellence and Communication

• Coordinate and prioritise internal resources to deliver on both internal and client commitments effectively, while supporting team wellbeing.
• Lead the effective use of hospitality and external marketing to reinforce Munich Re's thought leadership and strengthen client relationships.
• Maintain open and transparent communication across the branch, including with the Protection Leadership Team and UKLB ExCo, ensuring alignment and a no-surprise approach.

People and Culture

• Actively support the wellbeing of all colleagues across UKLB, drawing on appropriate resources where needed.
• Champion diversity, equity, and inclusion by standing up for underrepresented groups, challenging behaviours that do not align with our values, and acting as a visible ally.
• Recognise the influence of your leadership and set a positive example in line with our Leadership Values, contributing to initiatives that support and strengthen UKLB's culture.

Plus any additional duties and responsibilities that may reasonably be expected to be undertaken in accordance with the role.

Key Skills & Experience:

• Demonstrated experience in leading and supporting a team to deliver on objectives while encouraging ongoing learning and development.
• Strong understanding of the UK advised Protection market with a proven record of relevant commercial and business experience.
• Clear and effective communicator with excellent interpersonal and presentation skills.
• Skilled in negotiation and relationship management.
• Ability to assess complex situations, exercise sound judgment, and prioritise effectively.
• Strong organisational capability to balance deadlines and client expectations.
• Ability to produce high-quality written material tailored to purpose and audience.
• Experience of engaging and influencing at ExCo or senior leadership level.
• Proficiency with spreadsheets and data analysis.
• Experience in Life Reinsurance; actuarial background (qualified or part-qualified) would be an advantage.

Desired Qualifications and Educational Background:

• No specific educational requirements. An actuarial qualification (full or part) would be beneficial but not essential.

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the Head of Business Development role will also become responsible for:

• Understanding the responsibilities and adhering to the requirements of undertaking a regulated role under the Senior Manager and Certification Regime
• Ensure compliance with Insurance Distribution Directive
• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• Ensuring compliance with Munich Re's Code of Conduct and the FCA Conduct Rules

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%.

We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.

About us:

You will work in an environment where we think big: Change and culture are continuously role modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning.

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders.

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn.

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions.

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged.

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don't meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.