At a Glance
- Tasks: Drive data-led pricing strategy and shape underwriting decisions in marine insurance.
- Company: Join Munich Re Specialty, a leader in Primary Specialty Insurance with a bold culture.
- Benefits: Enjoy 25 days leave, private medical insurance, and a non-contributory pension.
- Other info: Hybrid working model with excellent professional development opportunities.
- Why this job: Make an impact in marine pricing while mentoring junior team members.
- Qualifications: Significant pricing experience in the Lloyd’s market and strong mathematical skills.
The predicted salary is between 60000 - 80000 £ per year.
Munich Re Specialty - Global Markets (MRS-GM) is aiming to become the leading Primary Specialty Insurance provider. With a strong culture encouraging boldness and curiosity, we invite candidates to explore this role.
Location: London City office (full-time, hybrid 2‑3 days per week)
As part of our global actuarial team, you will drive data‑led pricing strategy, shape underwriting decisions, and influence portfolio performance across a diverse marine book.
Responsibilities- Assume responsibility for pricing the Global Markets Marine portfolio, including managing and prioritising case pricing reviews, tool development and ad‑hoc analysis.
- Work autonomously on pricing assessments of large risks and binder reviews for Marine classes, communicating results clearly to underwriters.
- Effectively manage, mentor and support junior team members, providing training and reviewing work.
- Uphold Lloyd’s oversight framework standards, including technical rating and monitoring of delegated underwriting contracts.
- Support the syndicate business planning process for the Marine portfolio.
- Construct, review and maintain pricing models in Excel and hyperexponential Renew.
- Analyze pricing model data, including parameter validation.
- Produce and review pricing management information.
- Conduct new business initiative analyses and independent reviews.
- Support underwriting with depth portfolio analyses and performance management.
- Ensure all advice aligns with TAS requirements.
- Promote good conduct to deliver best outcomes for customers and policyholders.
- Understand escalation lines and responsibilities of PCRSG, UCSC, ExCo, and Board for conduct risk.
- Significant pricing experience in the Lloyd’s market.
- Experience with marine insurance is an advantage.
- Strong commercial understanding of insurance products; ability to price renewals with little or no claim experience.
- Highly developed mathematical/statistical knowledge of (re)insurance.
- Effective communication skills, translating complex models into business terms.
- Strong business acumen and interpersonal skills.
- Team player, willing to train junior members.
- Detailed knowledge of actuarial methods and the ability to apply them in practice.
- Knowledge of a range of modelling techniques for pricing.
- Current Lloyd’s market knowledge.
- Independence to manage the marine pricing portfolio.
- Willingness to develop knowledge of pricing‑related matters.
- Knowledge of FCA regulations and Lloyd’s standards.
- Understanding of the underlying principles of insurance and reinsurance.
- 25 days annual leave plus bank holidays.
- 10% non‑contributory pension.
- Eligibility for an annual bonus.
- Private medical and dental insurance.
- Critical illness, life assurance and permanent health insurance.
- Well‑being and development scheme, EAP, health assessments (subject to eligibility).
- Electric vehicle salary sacrifice scheme.
- Study and continuing professional development support.
- Hybrid working and IT home set‑up support.
All candidates in consideration for any role can request a reasonable adjustment at any point in the recruitment process. Please speak to your Talent Acquisition contact for further assistance.
Marine Pricing Lead employer: myGwork - LGBTQ+ Business Community
At Munich Re Specialty - Global Markets, we pride ourselves on fostering a dynamic and inclusive work environment that champions boldness and curiosity. Our London City office offers a hybrid working model, competitive benefits including a generous annual leave policy, and robust support for professional development, making it an ideal place for those looking to grow their careers in marine pricing. Join us to be part of a team that values collaboration, innovation, and the pursuit of excellence in the specialty insurance sector.
Contact Details:
myGwork - LGBTQ+ Business Community Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Marine Pricing Lead
✨Tip Number 1
Network like a pro! Reach out to people in the marine insurance sector, especially those at Munich Re. A friendly chat can open doors that applications alone can't.
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge and understanding of pricing models. Be ready to discuss how you would approach pricing assessments and communicate your findings effectively.
✨Tip Number 3
Showcase your mentoring skills! If you’ve trained or supported junior team members before, share those experiences. It’s a great way to demonstrate your leadership potential.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets the attention it deserves. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Marine Pricing Lead
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Marine Pricing Lead role. Highlight your relevant experience in pricing and marine insurance, and don’t forget to showcase your mathematical and statistical skills. We want to see how you can bring value to our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about marine insurance and how your background aligns with our goals at Munich Re Specialty. Keep it engaging and personal – we love a bit of personality!
Showcase Your Communication Skills:Since effective communication is key in this role, make sure to demonstrate your ability to translate complex concepts into simple terms. Whether it’s in your CV or cover letter, let us see how you can communicate clearly and effectively.
Apply Through Our Website:We encourage you to apply through our website for a smooth application process. It’s the best way for us to receive your application and ensures you’re considered for the role. Don’t miss out on this opportunity!
How to prepare for a job interview at myGwork - LGBTQ+ Business Community
✨Know Your Numbers
As a Marine Pricing Lead, you'll need to demonstrate your strong mathematical and statistical skills. Brush up on your pricing models and be ready to discuss how you've applied actuarial methods in past roles. Prepare to explain complex concepts in simple terms, as effective communication is key.
✨Showcase Your Experience
Highlight your significant pricing experience in the Lloyd’s market. Be prepared to share specific examples of how you've managed case pricing reviews or developed tools that improved pricing strategies. This will show your potential employer that you can hit the ground running.
✨Be a Team Player
Since mentoring junior team members is part of the role, think about how you've supported others in your previous positions. Share examples of training or guidance you've provided, and express your willingness to foster a collaborative environment. This will resonate well with their culture of boldness and curiosity.
✨Understand the Bigger Picture
Familiarise yourself with the Lloyd’s oversight framework and FCA regulations. Be ready to discuss how you would ensure compliance while driving portfolio performance. Showing that you understand the broader context of your work will demonstrate your business acumen and strategic thinking.
