Underwriter Iii salary in Iceland

Average Yearly Salary of Underwriter Iii in Iceland is approximately 13,846,378 ISK (96,787 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Underwriter Iii do?

The occupation of an Underwriter III involves assessing and evaluating insurance applications to determine the risk level and appropriate coverage for clients. Underwriters III typically work with complex and high-value policies, such as commercial or specialty insurance. They review various factors, including financial statements, industry trends, and claims history, to make informed decisions on policy approvals, terms, and pricing. Underwriter III also collaborate with brokers, agents, and other professionals to gather necessary information and provide recommendations on risk management strategies. They may negotiate terms and conditions with clients and ensure compliance with underwriting guidelines and regulations. Strong analytical skills, attention to detail, and knowledge of insurance products and industry trends are essential for this role.

Skills: Underwriter III, Insurance, Risk assessment, Policy evaluation, Analytical skills, Compliance, Specialty insurance.
Job industry: Insurance

How much does Underwriter Iii make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Underwriter Iii a well paid job?

Yes, our data shows that Underwriter Iii is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Underwriter Iii?

High salary for Underwriter Iii would be somewhere between 15,231,016 ISK and 20,077,248 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Underwriter Iii in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 13,846,378 ISK
Estimated Monthly Salary: 1,153,865 ISK
Estimated Weekly Salary: 266,277 ISK per week
Estimated Hourly Salary: 6,657 ISK per hour
By working as Underwriter Iii a person can save up to 5,337 USD per month or 64,041 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Underwriter Iii

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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