Risk Actuary

Hannover Re is one of the world’s leading reinsurers. It transacts all lines of property & casualty and life & health reinsurance and is present worldwide with around 4,000 employees. German business of the Hannover Re Group is written by the subsidiary E+S Rück. Established in 1966, Hannover Re is recognized as a reliable partner for innovative risk solutions, exceptional customer intimacy and financial soundness.

The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".

In Bermuda, the core subsidiary Hannover Re (Bermuda) Ltd. is a BMA regulated dual license reinsurer and has a focus on property catastrophe reinsurance contracts, mainly on an excess of loss basis, as well as on life & health business, mainly financial solutions. We offer reinsurance capacity on a global basis with more than USD 1.9 billion of gross reinsurance revenues.

We are currently seeking applicants for our Risk Actuary position. The Risk Actuary is responsible for all internal and external actuarial activities related to the L&H portfolio. Internal reporting duties include the review and validation of economic capital valuations for use in capital allocation and value creation metrics.

Main Responsibilities:

• Responsible for the quarterly actuarial IFRS and forecasting process.
• Ensure all internal (management, HR Entities) and external stakeholder (Auditors, Regulators) data and documentation requests for financial reporting data are effectively managed.
• Value the reinsurance portfolio to fulfill the company’s reporting duties in accordance to existing guidance for Internal Capital Model, Solvency II, Bermuda Regulatory and Rating Agency model reporting.
• Contribute to the development and enhancement of the company’s actuarial valuation models in Risk Agility FM, SQL, Excel (VBA).
• Assure all documentation and model governance of the companies RAFM Reporting models meets international standards of regulation.
• Maintain existing and develop new actuarial experience studies in R.
• Support and enhance the company’s data management process.
• Review financial reporting & risk related tasks carried out by the other team members.
• Maintain strong relationships with the Business Development and Finance Departments and other Group resources.
• Monitor and support the development of group reporting systems and act as the key Re7 user of the Corporate Actuarial department.

Requirements:

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics or another mathematical based subject.
• Associate or Fellow of Society of Actuaries, Institute and Faculty of Actuaries or qualifications from another recognized actuarial body.
• Minimum of 5 years actuarial experience in valuation for life and health (re)insurance.
• Advanced knowledge of International Financial Reporting Standards (IFRS), Solvency II (balance sheet and variation analysis), and local Bermudian economic capital frameworks.
• Strong analytical and problem-solving skills as well as capability to assume responsibility for complex reporting processes.
• Advanced user and development knowledge of Risk Agility FM, R, SQL, Power BI and VBA.
• Ability to manage multiple projects and produce quality deliverables with tight deadlines.
• Ability to multi-task and work under pressure.
• Excellent communication skills both verbal and written.
• Excellent organizational and time-management skills.

Hannover Re (Bermuda) Ltd. is an equal opportunity employer. Qualified persons should apply by 31 October 2025.