Underwriter Salaries

Underwriters play a key role in the insurance industry. They assess the risk of insuring people and businesses. This job requires careful analysis and decision-making. The average yearly salary for an underwriter is around $92,393. This figure can vary based on experience and location.

Underwriters often start with a base salary. As they gain experience, their salary increases. Here are some common salary ranges for underwriters:

• 10% earn less than $40,000
• 25% earn between $40,000 and $55,873
• 50% earn between $55,873 and $87,618
• 75% earn between $87,618 and $135,236
• 90% earn less than $166,982

1. Stamford, CT
   Average Salary: $141,219
   In Stamford, professionals assess risk for insurance companies. Major firms like Travelers and The Hartford offer many opportunities. The city's business-friendly environment supports career growth.
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2. Boston, MA
   Average Salary: $127,867
   Boston provides a dynamic setting for those in the insurance industry. Companies like Liberty Mutual and State Street attract top talent. The city's rich history and vibrant culture enhance the job experience.
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3. Chicago, IL
   Average Salary: $114,311
   Chicago is a hub for insurance underwriters. Firms like Allstate and CNA Financial offer diverse roles. The city's strong economy and networking opportunities make it ideal for career advancement.
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4. Baltimore, MD
   Average Salary: $112,465
   Baltimore offers a balanced lifestyle for underwriters. Companies like Legg Mason and T. Rowe Price provide stable positions. The city's affordable cost of living and cultural attractions add to the appeal.
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5. Philadelphia, PA
   Average Salary: $112,212
   Philadelphia is a great place for insurance professionals. Firms like Independence Blue Cross and Cigna offer many opportunities. The city's historic charm and vibrant community life enrich the work experience.
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6. Kansas City, MO
   Average Salary: $110,940
   Kansas City provides a supportive environment for underwriters. Companies like Sprint and AMC Theatres offer solid roles. The city's friendly atmosphere and lower cost of living make it attractive for professionals.
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7. Atlanta, GA
   Average Salary: $110,539
   Atlanta is a thriving city for insurance careers. Companies like Aflac and SunTrust Bank offer diverse opportunities. The city's fast-paced growth and warm climate make it a desirable place to work.
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8. Pittsburgh, PA
   Average Salary: $108,511
   Pittsburgh offers a unique setting for underwriters. Firms like UPMC and Highmark offer many roles. The city's rich industrial history and affordable living make it a great place for professionals.
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9. San Francisco, CA
   Average Salary: $108,362
   San Francisco provides a cutting-edge environment for insurance professionals. Companies like Salesforce and LinkedIn offer innovative opportunities. The city's tech-driven culture and scenic beauty enhance the job experience.
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10. Charlotte, NC
    Average Salary: $107,774
    Charlotte is a growing hub for underwriters. Firms like Bank of America and Truist Financial offer many roles. The city's strong economy and family-friendly atmosphere make it ideal for career growth.
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1. Citi
   Average Salary: $182,082
   Citi offers exciting Underwriter roles with a focus on risk management. They operate globally, with major offices in New York, London, and Hong Kong. Citi values innovation and provides opportunities for professional growth.
   

   
   

2. Munich Re
   Average Salary: $181,771
   Munich Re is one of the world's leading reinsurers. They offer Underwriter positions with a strong emphasis on risk assessment. The company has offices in Munich, London, and New York. Munich Re provides a dynamic environment for career development.
   

   
   

3. Resilience
   Average Salary: $166,500
   Resilience specializes in catastrophe risk modeling. They offer Underwriter jobs that focus on analyzing and mitigating risks. The company operates in New York and London. Resilience values expertise and offers a collaborative work culture.
   

   
   

4. Fannie Mae
   Average Salary: $165,682
   Fannie Mae provides Underwriter roles that focus on mortgage risk management. They have offices in Washington, D.C., and other major cities. Fannie Mae offers a supportive environment for professional growth.
   

   
   

5. QBE
   Average Salary: $156,520
   QBE offers Underwriter positions with a focus on insurance risk management. They operate in Sydney, London, and other key locations. QBE values teamwork and offers opportunities for career advancement.
   

   
   

6. Swiss Re
   Average Salary: $155,433
   Swiss Re is a global reinsurer offering Underwriter roles in risk assessment. They have offices in Zurich, London, and Singapore. Swiss Re provides a dynamic and innovative work environment.
   

   
   

7. Sunflower Bank
   Average Salary: $151,654
   Sunflower Bank offers Underwriter positions with a focus on financial risk management. They operate in major cities across the U.S. Sunflower Bank values expertise and offers a supportive work culture.
   

   
   

8. Argo Group
   Average Salary: $149,379
   Argo Group provides Underwriter roles that focus on insurance risk management. They have offices in Hamilton, Bermuda, and other key locations. Argo Group offers a collaborative and innovative work environment.
   

   
   

9. Santander
   Average Salary: $148,381
   Santander offers Underwriter positions with a focus on financial risk management. They operate in major cities across Europe and the Americas. Santander values expertise and offers a supportive work culture.
   

   
   

10. Wells Fargo
    Average Salary: $142,649
    Wells Fargo offers Underwriter roles that focus on financial risk management. They have offices in major cities across the U.S. Wells Fargo provides a dynamic and innovative work environment.
    

To increase earnings as an underwriter, focus on several key areas. Gaining experience and expertise in specific industries can lead to higher-paying positions. Specializations such as health, life, or property insurance often command higher salaries. Networking with industry professionals and attending relevant conferences can also open doors to better opportunities.

Continuous education and professional development play a crucial role. Certifications such as the Chartered Property Casualty Underwriter (CPCU) or the Associate in Risk Management (ARM) can enhance credibility and earning potential. Staying updated with industry trends and regulations ensures that an underwriter remains competitive. Building strong relationships with clients and colleagues can lead to referrals and promotions. Effective communication skills and attention to detail are essential for success in this field. Here are five factors to consider:

• Industry Specialization
• Professional Certifications
• Continuous Education
• Networking and Relationships
• Communication Skills