Underwriter

Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years we have a long history of innovation in savings and investments combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments Asset Management and Life work together to provide access to balanced long-term investment and savings solutions.

Through telling it like it is owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

Underwriter - Life Operations

The Role: M&G Life in its current form was created in October 2024 with the merger of what was formerly the closed book operation and the M&G Wealth Business (open book). M&G Life now covers over 5 million customers with more than 300 Bn invested across all of its products and wrappers and has an ambitious growth plan for 2025 and beyond. M&G Life operations work with a number of partners including Equiniti Diligenta Waystone Paragon Willis Towers Watson as well as M&G Global Services supporting our in-house operation. M&G Life also has international presence with teams in Ireland and Poland using a mix of insourcing and outsourcing service operations to sell to domestic and international markets.

As an underwriter you will play a key role in supporting the underwriting team by assessing analysing and processing applications for annuity and investment bond products within our Life business. Working closely with senior underwriters and cross-functional teams you will ensure that all underwriting decisions are robust compliant and aligned with company policy and FCA standards. This is an excellent opportunity for someone seeking to advance their underwriting career within a dynamic and collaborative environment.

Main Responsibilities:

• Underwrite a range of financial products including annuities and investment bonds ensuring all decisions align with company policies risk appetite and regulatory requirements.
• Conduct comprehensive risk assessments by reviewing financial medical and lifestyle data applying underwriting principles to determine eligibility pricing and appropriate terms.
• Analyse complex cases and escalate where necessary providing clear rationale and recommendations to senior underwriters or risk committees.
• Collaborate with internal teams (e.g. actuarial compliance operations) and external stakeholders (e.g. advisers reinsurers) to obtain additional information resolve queries and ensure smooth case progression.
• Maintain robust documentation of underwriting decisions risk assessments and supporting evidence for audit governance and reporting purposes.
• Monitor regulatory and market developments impacting annuity and bond products adapting underwriting practices to remain compliant and competitive.
• Contribute to process improvement initiatives leveraging data insights and technology to enhance efficiency accuracy and customer outcomes.
• Support training and knowledge sharing within the underwriting team promoting best practices and continuous professional development.

Skills & Experience Requirements:

• Minimum 23 years underwriting experience within financial services ideally covering life pensions or investment products.
• Strong analytical and problem-solving skills with the ability to interpret complex financial and medical information and make sound evidence-based decisions.
• Excellent attention to detail and organisational skills ensuring accuracy in high-volume deadline-driven environments.
• Effective written and verbal communication skills capable of explaining underwriting decisions clearly to both technical and non-technical audiences.
• Proficiency in Microsoft Office (Excel Word Outlook) and comfort with underwriting systems and digital tools.
• Ability to work collaboratively in a team-oriented environment and build strong relationships across functions.
• Demonstrated integrity sound judgement and commitment to high standards of compliance and customer service.

Desirable

• Experience underwriting annuity and investment bond products including knowledge of associated risks and pricing considerations.
• Familiarity with regulatory frameworks such as FCA PRA and Solvency II and their application to life and investment products.
• Understanding of reinsurance arrangements and their role in risk management.
• Progress towards or interest in professional underwriting qualifications (e.g. CII LOMA).
• Exposure to digital underwriting tools automation and data analytics.

Work Level: Experienced Colleague
Location: Stirling Hybrid (2-3 days in the office)
Closing Date: Friday 3rd April 2026

What we offer:

At M&G were committed to helping you thrive and supporting your wellbeing both at work and beyond. Our benefits are designed to help you balance your professional and personal life while planning confidently for your future. Our UK benefits include:

• As a savings and Investments firm we are proud to offer a valuable pension scheme of 18% with 13% made up of Employer Contributions and 5% Employee Contributions. We also offer Share Save and our Share Incentive Plan together with access to financial wellbeing and support services - to help give you real confidence to put your money to work.

• Enjoy 38 days annual leave including bank holidays with the opportunity to purchase up to 5 extra days and additional flexibility through our Time Off When You Need It policy to balance your work and personal commitments.

• Our market leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity adoption surrogacy and paternity leave - as supporting families is a core aspect of our inclusive culture.

• Health & Protection cover including Private Healthcare Critical Illness cover and Life Assurance for you with family options - for peace of mind.

To explore more about life at M&G and our full benefits offering visit Life at M&G

We have a diverse workforce and an inclusive culture at M&G underpinned by our policies and our employee-led networks who provide networking opportunities advice and support for the diverse communities our colleagues represent. Regardless of gender ethnicity age sexual orientation nationality disability or long term condition we are looking to attract promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

M&G is also proud to be a Disability Confident Leader and we welcome applications from candidates with long-term health conditions disabilities or neuro-divergent conditions.

Ifyou need assistanceor an alternative means of applying for a role due to a disability or additional needpleaselet usknow by contacting us at: