Reserving Actuary (Non-Life)

Reserving Actuary non-life (m/f/d)

Company: Munich Re

Location: Munich, Germany

Central Reserving (CR) uses quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re’s group-wide non-life business. This includes continuous monitoring of the reserve position as well as the further development of actuarial methods, underlying systems, and tools. Additional responsibilities include the financial reporting on non-life technical provisions.

As a member of Central Reserving, your primary focus will be on operational reserving activities for Great Lakes Insurance as well as actuarial reserving analyses on the worldwide Global Specialty Insurance (GSI) portfolio. You will be an integral member of an international team, working closely with colleagues based in both Munich and London.

To complement our team of experts in this area, we are looking for motivated individuals to perform in-depth actuarial reserving analyses and to interpret results in a way that drives business insights and recommendations.

YOUR JOB

• Evaluating reserves based on actuarial methods in combination with portfolio knowledge and market factors for selected non-life segments.
• Communicating with underwriting and pricing colleagues, as well as with controlling, accounting, risk management, and claims staff to obtain necessary information and share relevant findings with experts around the globe.
• Performing actuarial analyses (multi-year analyses, pricing-reserving comparisons, in-depth portfolio analyses) and creating presentations for various stakeholders, such as boards, committees, business units, or auditors.
• Actively exercising and developing the evaluation of large loss expectations for the worldwide GSI portfolio.
• Contributing to quarterly and annual internal as well as external reporting (IFRS17, SII, HGB) for Great Lakes and the GSI portfolio.
• Supporting automation and complexity reduction.
• Participating in the design and implementation of global training programs for non-life reserving professionals.

YOUR PROFILE

• University degree in actuarial science, mathematics, or a related field with a strong quantitative focus.
• Actuarial education (Aktuar DAV or similar degree from another actuarial society), started or completed.
• In-depth actuarial experience in ultimate loss estimation for non-life business (e.g., pricing, reserving, underwriting, or risk management) is required.
• Strong quantitative and analytical skills with emphasis on practical application.
• Strong verbal and written communication skills, including the ability to explain technical concepts to non-technical audiences.
• Motivated, open-minded with a team-oriented focus and discreet concerning confidential matters.
• Willingness to share expertise with less experienced colleagues.
• Strong organizational abilities, a high degree of accuracy, and the ability to work independently to find effective and efficient solutions.
• Proficiency in English is mandatory, with additional languages being a desirable asset.

Application Instructions

Please apply through our online portal and upload your CV, as well as your academic reference letters, including school certificates, graduation certificates, and transcripts of record for any degrees. We recommend writing a cover letter to tell us more about why the position and Munich Re is of interest to you.

About us

As the world's leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment, or even space travel.

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.

Sounds like you? Push boundaries with us and be part of Munich Re.

Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.

Unlock your potential

• Diversity, Equity & Inclusion: We embrace the power of differences and are convinced that diversity fosters innovation and resilience.
• Continuous Learning: We believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: We actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: Appropriate compensation for your high level of commitment.
• Retirement provision: State-of-the-art in-house pension solutions.
• Work-life balance: Promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: Focus on your physical and mental health far beyond legal requirements.
• Hybrid working: Living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized if equally qualified.

Münchener Rückversicherungs-Gesellschaft

Ryan Stewart

Human Resources

Apply now!