Actuarial Analyst

Munich Re
Closing date
18 Jul 2022

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Contract Type
Full Time
Actuarial Analyst (m/f/d)
London , United Kingdom

Our Purpose:

Together, we engage with everything we have and are, to help humankind act braver and better.
About Great Lakes Insurance:
As provider of primary insurance services in the UK, Great Lakes Insurance SE, UK Branch is a substantial part of our parent, Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE currently operates from its Headquarters in Munich, and via branch offices in UK, Switzerland, Italy and Australia.

In the UK, Great Lakes is currently undergoing the authorisation process from the Prudential Regulatory Authority and Financial Conduct Authority for a Third Country Branch and a Subsidiary. These two entities will secure our future in the primary insurance service market in a post-Brexit world, by enabling us to continue writing our existing business.

It is an exciting time to join our growing and evolving organisation, help us shape the future of primary insurance service provision!

Your job
About the role:
This is a permanent role based at Great Lakes' office at 10 Fenchurch Avenue, London, with the Actuarial Pricing team. There will also be opportunity for business travel to Munich Re's head office in Munich.
Key Responsibilities:
Your role in the Actuarial Pricing Team will include the following tasks:
  • Oversight of Great Lakes' retained insurance business, with a focus on London market property and casualty business.
  • Reporting, data collection and analysis to support underwriting. This may include estimating premium rate changes, claims inflation and other metrics, and evaluation of pricing of the business.
  • Communicating with central functions in Munich where vital (for example Corporate Underwriting and F&C Analytics).
  • Adapting and improving data sourcing, collection and analysis.
  • Maintaining and improving the automation of booking and administrative processes.
  • Assisting in the evaluation of the internal reinsurance programme. This involves collaborating closely with the Risk Management team who provide an analysis of capital requirement.
  • Supporting 'business as usual' activities for the Actuarial Pricing team.

Your profile
Leaders With Vision:
You demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You support a culture in which ethical conduct is expected, recognised, valued and embodied by all.

You treat everyone fairly and with respect.
Regulatory & Conduct Requirements:
Ensuring compliance with Munich Re's Code of Conduct and the FCA Conduct Rules.
Get results You consistently achieve results even under tough circumstances, with the organisation's performance in the front of your mind

Decision quality You make good and timely decisions to keep things moving, using analysis, experience and judgement

Customer focus You build and maintain strong customer relationships, paying attention to their needs and adapting as this evolves

Business insight You are able to apply your knowledge of the business and the market to advance your business' and wider organisation's goals

Cultivates innovation You create new and better ways for Munich Re to be successful e.g. generating ideas, improving operational processes, harnessing new technology etc.

Persuades You use compelling arguments to gain the support, agreement and commitment of others

Manages ambiguity You continue to operate optimally even when things are uncertain and the way forward is unclear

Courage You are not afraid to step up to address difficult issues, saying what you believe needs to be said. You are willing to challenge the status quo, recognising opportunities to do so
Key Skills & Experience:
  • General insurance experience
  • Strong numerical and analytical skills
  • Excellent organisational skills
  • Proficient user of Microsoft Office software
Desirable Skills & Experience
  • Proficient user of Power BI including dashboard creation
  • Proficient user of R software package
  • Proficient user of VBA for Excel
  • Knowledge of machine learning techniques and data analytics
Qualifications and Educational Requirements:
(Partly) qualified actuary (FIA, DAV, FCAS or equivalent) or other suitable subject area

Degree in mathematics, actuarial science or a numerate subject area or equivalent qualifiers

About us


You will be rewarded with a competitive salary, 25 days annual leave (pro rata) along with private medical insurance and employers contributory pension of 10%. We offer a hybrid working policy with a mix of working from home at our London office.
About Us
Here at Great Lakes (A Munich Re company) we seek to offer our staff the opportunity to grow in an exciting, results-oriented and diverse working environment. We believe that your dedication to apply your outstanding knowledge crafts the future; the future of our clients, of Munich Re and of course your own.

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