Singapore
We are seeking an experienced Legal & Wordings Counsel specializing in insurance law to join our Asia legal team based in Singapore. The ideal candidate will have a strong background in insurance law and/or insurance policy drafting and a familiarity with the Singapore insurance market.
What You'll Be DOING
What will your essential responsibilities include
- Provide expert legal advice and support to our underwriting business partners on a wide range of insurance-related legal issues with priority in drafting insurance policy wordings in all Lines of Business, reinsurance agreements, contract construction, and risk assessment. This will include reviewing our existing products and those of our competitors, the creation of new products, providing clear but legally cogent analysis and explanations, from individual clauses right through to entire product wordings.
- Supporting underwriters in achieving underwriting discipline both through coverage analysis in collaboration with the APAC Europe Litigation team and highlighting potential coverage exposure to emerging risks.
- Collaborate with cross-functional business partners, including senior management, HR, claims, compliance, finance and risk teams, to provide legal guidance and support on strategic initiatives and business operations. This is expected to include but is not limited to – third party service agreements, outsourcing agreements, business agreements with insurance intermediaries, NDAs and confidentiality terms, terms of assignment and/or novation of insurance policies and/or ancillary contracts.
- Proactively looking for opportunities to contribute constructive feedback to the business, including providing regular legal training on both wordings and legal issues, participating in post-bind underwriting reviews and incorporating lessons learned into pre-bind guidance.
- Overseeing changes in insurance legislation and regulations primarily in Singapore, Hong Kong, and Malaysia, ensuring that our business partners are fully informed of the changes that may impact our key business functions, and supported in any changes that are required to be made.
- Manage and coordinate external legal counsel when necessary and oversee legal proceedings and non claims litigation related to insurance matters involving the company.
- Conduct legal research and analysis to support decision-making and provide timely and accurate advice to the company on insurance-related matters.
- Support projects run by our Legal and Wordings teams at APAC Europe and local levels.
You will be a member of the Asia Legal Team. You will report directly to our Senior Legal Counsel, Singapore and will have a dotted line to the APAC Europe Wordings manager.
What You Will BRING
We're looking for someone who has these abilities and skills:
- Qualified lawyer admitted to practice in Singapore (or a comparable common law jurisdiction) with a minimum of 4 years post qualification experience, ideally within a law firm (with a focus on insurance advisory work) or an insurer or insurance intermediary – knowledge of Hong Kong and/or Malaysian laws a plus.
- Proven experience in insurance law, with understanding of insurance contracts, policy wording, claims handling, and regulatory compliance specific to the Singapore insurance industry.
- Excellent communication (written and oral) and interpersonal skills in English language, with the ability to effectively collaborate with internal and external stakeholders. Business fluency in Chinese will be a bonus.
- Ability to interpret and analyse (re)insurance clause and/or wording requests and to satisfy these by drafting your own (re)insurance clauses and wordings from scratch in a clear and robust manner (in English).
- A comprehensive understanding of what the business, legal and compliance needs are for individual insurance classes, with a focus on non-consumer type insurance products.
- Analytical and problem-solving abilities, with a attention to detail and the ability to work independently.
- Ability to thrive in a fast-paced and dynamic environment, with a proactive and solution-oriented approach to legal challenges in the insurance sector.
- Intellectual curiosity, with an ability to consider and approach challenges from all angles and with a diverse and open-minded approach.
- Experience in the use of contract analytics technology tools a plus.
Who WE Are
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it.
How By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines and specialty.
With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.
Learn more at axaxl.com
What We OFFER
Inclusion
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That's why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential.
It's about helping one another — and our business — to move forward and succeed.
- Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
- Robust support for Flexible Working Arrangements
- Enhanced family-friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.
Total Rewards
AXA XL's Reward program is designed to take care of what matters most to you, covering the full picture of your health, wellbeing, lifestyle and financial security. It provides competitive compensation and personalized, inclusive benefits that evolve as you do.
We're committed to rewarding your contribution for the long term, so you can be your best self today and look forward to the future with confidence.
Sustainability
At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called Roots of resilience, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Our Pillars
- Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We're committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
- Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We're training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
- AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL's Hearts in Action programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.
For more information, please see axaxl.com/sustainability.
