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Insurance underwriter: Salary and conditions

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  • Typical starting salary for a trainee underwriter on a graduate scheme: £25,000.
  • Range of typical salaries at senior level/with experience: £40,000-£65,000.
  • Salaries for qualified underwriters with the right experience can exceed £100,000.
  • Salaries vary between employers and location and may include a range of additional benefits such as discounted insurance, share and pension schemes and bonuses.
  • Working hours are mainly 9am to 5pm, possibly with some extra hours at busy times. Flexible hours are usually offered.
  • The work is mainly office based, with some visits to insurance brokers and/or client premises.
  • Self-employment or freelance work is rare, although a few underwriters do establish businesses as insurance agents or brokers.
  • London is the UK's major insurance centre and therefore the majority of jobs are available in London and the surrounding areas. However, opportunities do exist in other cities and large towns.
  • The job may incur a certain level of stress due to the need to make decisions about risks and, on occasion, may involve working to tight deadlines.
  • Travel within a working day, absence from home overnight and overseas travel is uncommon.

Salary figures are intended as a guide only.

Written by AGCAS editors
August 2012

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