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.

Within Central Reserving, you will focus on operational reserving tasks related to Great Lakes Insurance, a primary insurance company of Munich Re. You will work in an international team with colleagues based in Munich and London.

To complement our team of experts in this area, we are looking for motivated individuals to perform in-depth analyses on the Great Lakes technical provisions and to translate results into a reporting and business context.

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 to share relevant findings
• Performing actuarial analyses (multi-year analyses, pricing-reserving comparisons, in-depth portfolio analyses) and creating presentations for various stakeholders
• Actively supporting and developing the evaluation of large loss expectations for the world-wide reinsurance non-life portfolio
• Contributing to quarterly and annual internal as well as external reporting with regards to the non-life business
• Supporting automation and complexity reduction as well as the transition towards new ways of collaboration

YOUR PROFILE

• University degree in actuarial science or mathematics or related field with a strong quantitative focus
• Actuarial education (Aktuar DAV or similar degree of other actuarial society) intended, started or completed
• Actuarial experience in loss estimation in non-life insurance (e.g. pricing, reserving, underwriting or risk management) desirable
• Excellent 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 (English required, further languages beneficial)
• Motivated, open-minded with team-oriented focus and discreet concerning confidential matters
• Solid organizational skills and high standard of accuracy combined with independence and the ability to find pragmatic solutions

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 a manageable risk we enable fundamental change.

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.

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.