Markel opens application for underwriting graduate program in Singapore

Program is designed for those interested in pursuing a long-term insurance career

Markel opens application for underwriting graduate program in Singapore

Insurance News

By Mika Pangilinan

Markel has opened applications for its 2023 Asia Underwriting Graduate Program, which is designed for people looking to start a long-term career path in the insurance industry.

Based in Singapore, the program offers structured on-the-job, technical and professional skills training, in addition to support towards professional qualification.

The program also provides opportunities to develop field expertise and knowledge through rotations or secondments, projects and mentoring.

On its website, Markel said it is calling for “self-starters” to apply, with the program accepting candidates from all disciplines.

Applicants must have a bachelor or higher university degree and must have achieved or be on track for a GPA of at least 3.0 for a 4.0-scale grading system or 4.0 for a system on the 5.0 scale.

They must also exhibit the “Markel Style,” the insurer added, referring to the applicant’s dedication to “excellence, customer focus, business results, collaboration, and strong foundations.”

“The formative years of any career are very important, and that’s why we offer the support, opportunities, and community that early and new career professionals need to accelerate their career development,” the Markel website said.

The program is set to start on or before Aug. 1. The assessment process involves the submission of an online application, followed by a telephone interview. Applications are then sent to the assessment centre before being considered for a final interview.

The company posted a comprehensive loss to shareholders worth US$1.3 billion, which it attributed to “net investment losses and unrealised losses on our fixed maturity portfolio.” It also saw net investment losses of US$1.6 billion that resulted in the equity portfolio seeing a decrease in fair value.

“We typically hold our fixed maturity investments to maturity and generally would expect these losses to reverse,” Markel said of the results.

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