Average Underwriter Salary

£27,647
Avg. SalaryShow Hourly Rate
£2,684
Bonus
£600
Profit Sharing
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The average salary for an Underwriter is £27,647.
10%
£19k
10%
£28k
50%
£54k
90%
90%
MEDIAN £27,647
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United States (change)
Salary
£19k - £54k
Bonus
£623 - £10k
Profit Sharing
£0 - £3k
Total Pay
£19k - £58k

Your Market Worth Over Time

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Job Description for Underwriter

Underwriter Tasks
  • Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
  • Underwrite, submit, approve or pend coverage amounts and premiums, and present decisions to management.
  • Monitor existing policies for compliance with company guidelines.
  • Manage underwriting territory and select new business based on analysis of their profitability.

Popular Employer Salaries for Underwriter

The top respondents for the job title Underwriter are from the companies Aviva Ltd, Hiscox and QBE Europe. Reported salaries are highest at XL Group Inc where the average pay is £50,000. Other companies that offer high salaries for this role include QBE Europe, earning around £45,000. Aviva Ltd pays the lowest at around £21,800. Hiscox also pays on the lower end of the scale, paying £25,888.

Underwriter Job Listings

Popular Skills for Underwriter

Skills in Insurance, Risk Management / Risk Control and Data Analysis are correlated to pay that is above average. Skills that pay less than market rate include Loan Underwriting and Customer Service.

Pay by Experience Level for Underwriter

An entry-level Underwriter with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of £21,382 based on 71 salaries. An early career Underwriter with 1-4 years of experience earns an average total compensation of £25,115 based on 241 salaries. A mid-career Underwriter with 5-9 years of experience earns an average total compensation of £33,020 based on 141 salaries. An experienced Underwriter with 10-19 years of experience earns an average total compensation of £37,257 based on 79 salaries. In their late career (20 years and higher), employees earn an average total compensation of £30,505.
Employees with Underwriter in their job title in London, England: London earn an average of 50.7% more than the national average. The lowest salaries can be found in Leeds, England: West Yorkshire (22.6% less), Edinburgh, Scotland: Edinburgh (18.4% less) and Glasgow, Scotland: Glasgow (15.6% less).

Years of Experience

This data is based on 553 survey responses.
Entry Level
12.8%
Early Career
43.6%
Mid Career
25.5%
Experienced
14.3%
Late Career
3.8%

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