Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Join our team as a Reserving Actuary, leading key actuarial processes and collaborating globally.
- Company: Munich Re Specialty aims to be the top Primary Specialty Insurance provider with a supportive culture.
- Benefits: Enjoy 25 days annual leave, private medical insurance, and a non-contributory pension scheme.
- Why this job: Be part of a bold, curious team driving innovation and sustainability in the insurance industry.
- Qualifications: A degree in Mathematics or Actuarial Science; qualified actuary preferred but experience counts too.
- Other info: Diversity and inclusion are at our core; we welcome all backgrounds and experiences.
The predicted salary is between 43200 - 72000 £ per year.
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptablestrategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
Please see our website for more information.
Reserving Actuary
We are looking for a Reserving Actuary to join our team on a full time basis in our London City office. You will perform a broad range of actuarial work within the Reserving and Reporting function, in particular leading on the first lining reserving responsibilities MRSG and liaising with the actuarial community working across global teams.
Responsibilities
- Lead the development and implementation of reserving processes and systems for first line reserving of MRSG business written on a number of legal entities within the Group.
- Lead quarterly reserving processes for MRSG business by reconciling data sets, analysing and producing reserving results, including reviewing results produced by other members of the team.
- Support the quarterly Best Estimate and Syndicate reserving processes for Syndicate business written via Lloyd’s platform, including leading reserving meetings and preparing information for the Reserving Committee.
- Monitor claims experience using actual versus expected analysis, and document the results for review.
- Carry out deep dives on key reserving uncertainties and reserving classes. Communicate results to key stakeholders.
- Present results to a variety of stakeholders to provide insight and recommendations on reserving and performance related results. This will be include liaising with the actuarial community and working across global teams under GSI4.
- Work collaboratively and proactively engage relevant stakeholders, e.g. support reporting teams on key drivers of reserving movements, etc.
- Build knowledge of actuarial reserving through on-the-job learning and structured training, and assist in the same for analysts;
- Assist as required with wider reserving tasks such as the annual reserve report, benchmarking exercises and deep-dive reserving investigations; and
- Contribute to other Reporting and Reserving tasks as needed.
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
Knowledge and Skills
- Mathematics or Actuarial Background
- Good working knowledge of Excel and databases
- Able to understand and explain key Actuarial processes
Education and Professional Qualifications
- University Degree in a quantitative field such as Mathematics, Actuarial Science or Statistics.
- Qualified actuary (FIA or equivalent) or qualified by experience.
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!
Diversity, Equity & Inclusion
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.
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.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re – choose your impact!
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
#J-18808-Ljbffr
Reserving Actuary employer: Munich Re
Contact Detail:
Munich Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reserving Actuary
✨Tip Number 1
Familiarise yourself with the latest trends and developments in actuarial reserving. This will not only help you understand the role better but also allow you to engage in informed discussions during interviews, showcasing your enthusiasm and knowledge.
✨Tip Number 2
Network with professionals in the actuarial field, especially those who work in reserving roles. Attend industry events or join relevant online forums to connect with potential colleagues and gain insights into the company culture at Munich Re.
✨Tip Number 3
Prepare to discuss your experience with data analysis and Excel, as these are crucial skills for the Reserving Actuary position. Be ready to provide examples of how you've used these tools to solve problems or improve processes in previous roles.
✨Tip Number 4
Demonstrate your understanding of the importance of diversity, equity, and inclusion in the workplace. Be prepared to share your thoughts on how these values can enhance team performance and contribute to a positive work environment at Munich Re.
We think you need these skills to ace Reserving Actuary
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Reserving Actuary position. Familiarise yourself with the key tasks mentioned in the job description, such as leading reserving processes and communicating results to stakeholders.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the job description. Emphasise your mathematical or actuarial background, proficiency in Excel and databases, and any experience with reserving processes.
Craft a Compelling Cover Letter: Write a cover letter that showcases your enthusiasm for the role and the company. Mention specific aspects of Munich Re's culture and values that resonate with you, and explain how your background makes you a suitable candidate for the position.
Proofread Your Application: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. A polished application reflects your attention to detail, which is crucial for an actuarial role.
How to prepare for a job interview at Munich Re
✨Understand the Role
Make sure you have a solid grasp of what a Reserving Actuary does. Familiarise yourself with the key responsibilities mentioned in the job description, such as leading reserving processes and communicating results to stakeholders.
✨Showcase Your Technical Skills
Be prepared to discuss your proficiency in Excel and databases, as well as your understanding of actuarial processes. You might be asked to solve a problem or analyse data during the interview, so brush up on your technical skills.
✨Prepare for Scenario Questions
Expect questions that assess how you would handle specific situations related to reserving uncertainties or stakeholder communication. Think of examples from your past experience where you successfully navigated similar challenges.
✨Emphasise Collaboration
Since the role involves working with global teams and various stakeholders, highlight your ability to collaborate effectively. Share examples of how you've worked in teams to achieve common goals, especially in a diverse environment.
