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Company
Munich Re
Location
London , United Kingdom

WHO WE ARE

Munich Re is one of the largest reinsurers in the world. Spanning over six continents and across more than 50 sites, Munich Re's teams embody a rich blend of age groups, genders, cultures, and, most importantly, ways of thinking. This fusion culminates in a truly inclusive and globally interconnected network of approximately 40,000 people. Find out more about who we are and what we stand for – wherever we are based.

WHAT YOU WILL BE DOING

Actuaries are problem solvers. They use their mathematical skills to measure the probability of an event occurring in the future and find solutions accordingly. From financial reporting to pricing risk, predictive analysis to digital innovation, Actuaries have a say.

You will join one of our actuarial teams, either in the life insurance (Munich Re UK Life Branch) or the general insurance space (Munich Re Syndicate Group or Munich Re Great Lakes). Your role will give you the opportunity to grow your technical skills and actively contribute to the team’s performance.

Some important skills and tasks of a graduate actuary involve:

• Analysis of data, including claim rates across different markets for use in pricing reinsurance products and updating our companies view of changing trends.

• Quote on re-insurance tenders to help our company achieve its financial goals, followed by working on the execution of deals won across different product lines.

• Help with the production of financial projections and liability valuations for internal profit and capital reporting.

• Draft written reports, documentation and presentations for use both internally within the company and with global offices.

• Contribute to the teams’ ongoing aim to improve processes to ensure we are the most efficient and competitive we can be.

• Develop relationships with our business developers and constructing a meaningful branch-wide network of contacts.

We take the development of our employees seriously and would support movement to alternative teams 12 to 24 months after your initial placement.

BENEFITS

We offer many benefits over and above a great compensation package, including support throughout your actuarial qualification

Financial benefits

• Great compensation package

• Annual target-based bonus

• Pension contribution

• Insurance coverage (life and private medical)

• Leisure scheme

• Many other financial benefits including employee discount scheme across major retailers and vehicle scheme

Actuarial qualification

• Payment for Institute and Faculty of Actuaries membership fees.

• Payment for actuarial study material, tutorials and exam fees.

• Study leave policy for actuarial exams.

• Support through the actuarial examinations including Mentors, Mental Health First Aiders, Personal Development Courses.

Active support

• Payment for Institute and Faculty of Actuaries fees.

• Payment for actuarial study material, tutorials and exam fees.

• Study leave policy for actuarial exams.

• Support through the actuarial examinations including Mentors, Mental Health First Aiders, Personal Development Courses.

WHAT WE ARE LOOKING FOR

We are looking for new or recent university graduates to join our business in September 2024. We seek smart, curious and passionate candidates who are keen to learn about the reinsurance industry and are excited by the prospect of completing the actuarial examinations.

Your profile

• Numerical and analytical skills with the ability to apply judgement

• Motivation to learn

• Communication skills including when engaged with a broad range of audiences

• Outstanding teammate who enjoys working in an open, collaborative structure

• Organisational skills to meet targets and manage leader expectations

Qualifications/requirements

• Minimum 2:1 degree (achieved or predicted). We will consider applicants from any recognised degree, however there is a preference for a numerate subject area such as Mathematics, Finance, Economics, or Statistics

• A level grades (or equivalent) with at least one numerate subject

BEFORE YOU APPLY

We do not require a covering letter for this role. You will only be assessed on the content of your CV. Please ensure your CV contains all information you consider relevant, including extra-curricular activities and wider personal skillset, such as additional languages. Please ensure the filename of your CV contains your full name.

DIVERSITY, EQUITY AND INCLUSION

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity, Equity and Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

We are proud to announce that Munich Re has been rated as a 5-Star Diversity, Equity and Inclusion (DEI) Employer for 2023 by Insurance Business UK. You can read more about it here.

Munich Re is an equal opportunities employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.