Actuarial Trainee

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About the role

Actuaries are problem solvers. They use their mathematical skills to measure the probability of an event occurring in the future and find solutions accordingly. From financial reporting to pricing risk, predictive analysis to digital innovation, Actuaries have a say.

You will join one of our actuarial teams, either in the life insurance (Munich Re UK Life Branch), the general insurance (Munich Re Great Lakes) or the specialty insurance space (Munich Re Specialty Group). Your role will give you the opportunity to grow your technical skills and contribute to the team\’s performance.

Responsibilities

• Assess data, including claim rates across different markets, to support pricing of reinsurance products and to update our view of changing trends.
• Quote on re-insurance tenders to help the company achieve its financial goals, followed by working on the execution of deals won across different product lines.
• Help with the production of financial projections and liability valuations for internal profit and capital reporting.
• Draft written reports, documentation, and presentations for use both internally within the company and with global offices.
• Contribute to the team\’s ongoing efforts to improve processes.
• Develop relationships with business developers and build a meaningful branch-wide network.

Nimble learning – you actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.

Collaborates – you work together with others in your team, the department and wider business (where relevant) to meet shared commitments.

Optimises work processes – you know the most effective and efficient processes to get things done and are constantly assessing how they can be improved.

Resourcefulness – you find a way to get things done with the best use of the resources available to you, knowing when to ask for support from others, but also offering your support to others where you feel your expertise, knowledge and skills can add value.

Effective and Flexible Communication – you communicate clearly and appropriately with your audience. You also share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback along the way.

Inclusive Mindset – Demonstrated commitment to valuing diversity and contributing to an inclusive working and learning environment.

Skills & Experience

• Numerical and analytical skills with the ability to apply judgement
• Communication, including when engaged with a broad range of audiences
• Outstanding teammate who enjoys working in an open, collaborative structure
• Organisational skills to meet targets and manage expectations
• Curious & Adaptable

Qualifications

• Minimum 2:1 degree (achieved or predicted). We will consider applicants from any recognized degree, however there is a preference for a numerate subject area such as STEM, Finance, Economics, or Statistics.
• A level grades (or equivalent) with at least a grade A in one numerate subject.

We offer many benefits over and above a great compensation package, including assistance throughout your actuarial qualification.

Actuarial Qualification

• Payment for Institute and Faculty of Actuaries membership fees
• Payment for actuarial study material, tutorials and exam fees
• Study leave policy for actuarial exams
• Support through the actuarial examinations including Mentors, Mental Health First Aiders, Personal Development Courses

Thought Leaders

You will demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well. You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements

In addition to the responsibilities set out above, the Actuarial Graduate Trainee role will also become responsible for: Ensure compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so 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. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

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. You might just be the candidate we are looking for!

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Application Closing Date

Application Closing Date: 3rd October 2025

Seniority level

• Entry level

Employment type

• Full-time

Job function

• Administrative, Analyst, and Finance

Industries

• Insurance

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