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Pricing Actuary, Property

Pricing Actuary, Property

Company: Munich Re Syndicate

Location: London, United Kingdom

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.

About us

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan, and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency, and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Property Pricing Actuary

We are looking to employ a Property Pricing Actuary to be based in London, Manchester, or Birmingham and to work with us on a Full-Time basis.

This position will provision of actuarial pricing support to MRSL.

The Role

  • Assist the Property Pricing Manager in providing effective, efficient, and reliable Pricing support to the underwriting division, ensuring all pricing related regulations and requirements are adhered to, to assist the business in achieving a profitable and successful operating model
  • Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts
  • Support and mentor more junior team members, including review of their work
  • Work independently on individual pricing assessments of large or unique risks, or monitoring of Delegated underwriting contracts, including clear communication of results to the underwriters
  • Build, review, maintain and enhance pricing models, striving to achieve the optimum balance between rating integrity and market suitability while considering data availability and user capabilities
  • Assist in development work – for example to streamline operational processes relating to data management
  • Support for syndicate business planning process
  • New business initiative analyses and independent reviews
  • Ensure all advice offered is in line with TAS requirements
  • Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.

What we are looking for

  • 4+ years of pricing experience in the London Market
  • Knowledge and understanding of FCA regulations and Lloyd’s standards
  • Knowledge and understanding of the underlying principles of insurance and reinsurance
  • Highly developed mathematical / statistical knowledge
  • Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgments within a business environment
  • Current Lloyd’s market knowledge
  • Knowledge and understanding of the dynamics and rating considerations for Property.
  • Experience with mentoring junior members of an actuarial team.
  • Willingness to continue to develop knowledge of any pricing related matters.

Qualifications

  • University degree in Mathematics, Actuarial Science, Statistics, Economics, or similar discipline.
  • Qualification as a fellow of the Institute and Faculty of Actuaries or equivalent international body and / or relevant work experience (4+ years) in a dedicated actuarial role.

Your career with us

At MRSG, you’ll find the flexibility, development, and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance, and more!

Diversity & Inclusion

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

Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.

Push Boundaries. With us. | Munich Re

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