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About the Role

The role holder will be a member of the Protection pricing team and part of the wider Pricing division. The team is responsible for delivery of quotes, deal executions, client requests, monitoring inforce treaties, supporting basis development, and maintaining tools and processes. Opportunities to gain exposure to Longevity and Structured reinsurance pricing are available.

Responsibilities

Develop technical knowledge and expertise relevant to reinsurance pricing.
Draft written reports and documentation for results and methods employed.
Deliver accurate and timely work as part of a team working towards deadlines.
Assist with the delivery of quotes and projects, including data manipulation, experience analysis, setting pricing assumptions, and producing metrics for commercial negotiations.
Assist in the production of key metrics and analysis to support commercial negotiations.
Develop relationships with commercial teams and build a branch-wide network.
Represent the team and communicate results to senior management and other departments.
Contribute to improving Pricing tools and processes and embrace new technology.
Assist in the development and review of the Pricing basis and assumptions.
Assist commercial teams on their activities when required.
Input into team discussions on non-technical topics and show interest in branch-wide initiatives.
Develop an understanding of the UK life insurance and Longevity market.
Ensure compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.

Requirements

Relevant knowledge or experience of the UK life insurance market, or relevant pensions knowledge.
Knowledge or experience of Pricing processes including production of experience analysis, assumptions setting and modelling methodology is desirable.
Ability to grasp new concepts and technical issues quickly, and communicate them effectively to colleagues.
Strong analytical and numerical skills with a willingness to offer judgement calls where there is uncertainty.
Ability to work on own initiative.
Confidence and diplomacy to challenge peers and manage upwards.
A team player who can adapt and work effectively with different people across the branch.
Strong computer literacy, particularly in Microsoft Excel & Word skills.
Experience with R, Python, Basic VBA or similar programming is required.
Experience with Power BI is desirable.
Demonstrate inclusive behaviour and encourage colleagues to play an active role in creating an inclusive culture.
Treat colleagues and sales and business partners fairly and with respect.

Skills

Excel
Word
R
Python
Basic VBA
Power BI

Location

Munich

Work Type

Full-time

Experience Level

Entry-level
Mid-level

Education Level

University graduate or equivalent
Commitment to train towards Actuarial qualification

Salary/Compensations

Great compensation package
On target bonus

Benefits

25 days annual leave with the option to purchase more
Private medical insurance
10% employers' contributory pension
Fully paid 6 months family leave

About the Company

The UK life market is one of the most competitive life markets in the world.
Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes.
This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition.
At UK & Ireland Life we have three pillars to our business strategy: protection, longevity and reinsurance structuring.
We provide clients with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing.
We think big: Change and culture are continuously role-modelled.
We create and articulate a compelling and ambitious shared purpose, vision and direction.
We pave the way towards success and see failure as learning.
We care & dare: We are empathetic.
We know when to lead and know when to let others lead.
We attract, grow and coach future leaders.
We communicate in a clear & authentic way: We interact with a positive and humble spirit.
We solicit feedback, ask and listen, learn and unlearn.
We grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients.
We embrace new ways of working using digitalisation to deliver solutions.
We lead the We: We have a passion for winning and growing as a team.
We inspire people to be capable of joint performance.
We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged.
At Munich Re, embracing the power of differences is at the core of who we are.
We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better.
We recognise diversity can be multi-dimensional, intersectional, and complex.
We want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.
We are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

Equal Opportunity

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.