Actuarial Associate, Individual Reinsurance Solutions

Munich Re; Toronto; Hybrid; CAD 50,000 - 70,000; Full time

Job summary

A leading reinsurance company based in Toronto is seeking an entry-level actuarial candidate to support pricing, analysis, and modeling for Life and Critical Illness. This position offers a hybrid work environment, competitive compensation, and extensive benefits from day one. Ideal for recent graduates pursuing actuarial designations, this role promises professional growth and an engaging work culture.

Benefits

Competitive compensation including an annual bonus

Market-leading health and dental benefits

Generous time off including vacation and personal days

Immediate participation in a DC Pension Plan

Access to learning resources like LinkedIn Learning

Qualifications

• Entry-level actuarial position, open to new graduates or professionals with 0-2 years of experience.
• Actively progressing towards ASA, ACIA, FSA, or FCIA.
• Proficiency in Excel, Word, Access, PowerPoint, and SQL preferred.

Responsibilities

• Build models in AXIS to appropriately price products.
• Analyze profitability by comparing to past quotes and targets.
• Assist with the development of actuarial assumptions for client products.

Skills

Analytical skills

Organizational skills

Problem-solving skills

Communication skills

Fast learning

Education

University Degree in Actuarial Science, Finance, Statistics, or Mathematics

Tools

Excel

SQL

PowerPoint

Word

Access

GGY AXIS

Datalink

Job description

Position Overview

• Member of the Individual Reinsurance Pricing team, supporting the pricing, analysis, and modelling of reinsurance solutions for the Life and Critical Illness lines of business.
• Works closely with peers, actuaries, and other key individuals from the Toronto and Montreal offices.
• Assists with the development of assumptions and building of actuarial models for Individual Life or Critical Illness business, enabling the delivery of quality quotes on time.
• Supports the delivery of work requirements to more senior actuarial members and internal clients, managing expectations and delivering results and documentation.

Your Role :

• Build models in AXIS to appropriately price products and determine profitability metrics.
• Analyze profitability by comparing to past / comparable quotes and existing profit targets.
• Assist with the development of actuarial assumptions (distributions, experience adjustments, etc.) for client products used in pricing of Individual Life and Critical Illness business.
• Collect and analyze internal and external data to support assumption development processes for reinsurance.
• Support maintenance and updating of pricing management models, and analyze results to report on overall portfolio profitability.
• Participate in enhancing pricing methodologies by developing tools for process and method improvements.
• Contribute to technical aspects of ad-hoc requests and projects, working with team members or stakeholders.
• Assist with the pricing of facultative quotes to deliver results within tight turnaround times.

Your Profile :

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• Actively progressing towards ASA, ACIA, FSA, or FCIA.
• Entry-level actuarial position, open to new graduates or professionals with 0-2 years of experience.
• Fast learner with strong analytical, organizational, and problem-solving skills.
• Ability to adapt in a dynamic environment and work effectively under tight timelines.
• Strong communication skills in conversation, presentations, and written documents.
• Proficiency in Excel, Word, Access, PowerPoint, and SQL preferred.
• Experience with GGY AXIS and Datalink is an asset.

About Munich Re

We engage with everything we have to help humankind act braver and better. As the world’s leading reinsurance company with over 40,000 employees worldwide, Munich Re is committed to transforming risk management and fostering diversity, inclusion, and innovation.

Our data, technology, and teams enable us to drive transformative change in the life insurance industry. We invest in our talent, offering a work environment that promotes professional growth, innovation, and high performance.

What Can We Offer You?

• An engaging, collaborative environment that promotes learning and development.
• A hybrid work environment with in-office and remote days, meeting-free lunch hours, and Focus Friday afternoons.
• Competitive compensation including an annual bonus.
• Market-leading health and dental benefits starting from day one.
• Flexible spending accounts for health and wellness.
• Immediate participation in a DC Pension Plan with employer contributions and optional matching.
• Generous time off including vacation, personal days, holidays, and early closure days.
• Access to learning resources like LinkedIn Learning and professional fee reimbursements.
• Maternity, parental, and adoption leave top-up programs.
• Employee referral, recognition, and rewards programs.

Please note that only candidates selected for an interview will be contacted. Munich Re is committed to an inclusive, accessible work environment and will provide accommodations for qualified applicants with disabilities throughout the recruitment process.