Salary Guide 2026 - Flipbook - Page 4
LONDON MARKET UNDERWRITING
Overview of the market
The London market continues to experience pronounced mobility, with significant movement of
individuals which has included individuals moving from: carriers to MGAs, direct insurance to
reinsurance lines, expanding their remit into broader territorial roles, and brokers pivoting into
underwriting. Current recruitment demand is heavily concentrated at the Senior Underwriting level,
while Assistant Underwriter opportunities remain comparatively subdued.
From a line of business perspective, recruitment activity is strongest across Casualty, Terrorism,
Property D&F, Energy, and Reinsurance. Portfolio underwriting capability is also in high demand, as
portfolio solutions divisions expand in response to the continued growth of facility business. 2025 saw
a flow of analytical underwriters being drawn from direct underwriting into treaty roles, as firms
address capability gaps and well documented skill shortages within the reinsurance sector.
Dana Hill
(Director)
Dana.Hill@ipsgroup.co.uk
In contrast to previous years, demand within Financial Lines underwriting has remained muted, largely
driven by prevailing market conditions and overspending on recruitment in prior years when
Clare Dye
conditions were more favourable. When Financial Lines vacancies do arise, many are being
(Associate Director)
downgraded, sourced internally, or left unfilled until market conditions improve.
Clare.Dye@ipsgroup.co.uk
Career progression appears to be accelerating across the market, with a growing proportion of
individuals reaching underwriter status within five years of joining the industry. At the junior end, this
trend is especially concerning for long tail and highly technical classes, where continuity and
knowledge retention are critical. Individuals in the first five years of their careers appear more
susceptible to short term financial and job title incentives, often underestimating the longer-term
impact of frequent moves. The rising cost of living is further influencing this behaviour and working
against employer and team loyalty.
Compensation expectations remain elevated, with candidates typically seeking a 20 to 30% increase
in basic salary alongside an enhanced job title. Unless a candidate is unhappy, any offers that fail to
meet both criteria are highly susceptible to counteroffers (unless the role offers clear career
acceleration, access to more attractive lines of business or territories, or a more prominent employer
brand).
www.ipsgroup.co.uk
Claire-Marie Boyne
(Associate Director)
Clem@ipsgroup.co.uk
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