Actuarial Analyst Placement Year

The National Farmers Union Mutual Insurance Society Limited; Stratford-upon-Avon; On-site; GBP 27,000 - 37,000; Full time

Benefits offered by this job

Annual bonus up to 10%

Contributory pension up to 20%

25 days annual leave

Health and wellbeing plan

Mentoring opportunities

Employee discounts

Job summary

NFU Mutual offers a valued placement in our Actuarial team. You will work with actuaries and analysts to support key business decisions, gain exposure to reserves, data analysis and MI reporting, and develop skills with Excel and potentially SQL.

Ideal for penultimate-year undergraduates in actuarial science, maths, statistics or economics who want practical experience in a core insurance function and to contribute from an early stage while receiving structured on-the-job training and mentorship.

Qualifications

• Penultimate year of an actuarial or numerically focused undergraduate degree.
• A-level Maths with at least an A grade.
• GCSE English Language at least a B grade.
• Understanding of acting in an actuarial function within insurance.

Responsibilities

• Calculate and analyze reserves for future claims.
• Analyse data and trends to identify insights.
• Perform profitability analysis and business planning.
• Share MI and insights with the business.
• Work with actuarial models and tools.
• Support process improvement and reporting.

Skills

Strong communication

Data confidence

Analytical thinking

Organisation

Problem-solving

Attention to detail

Education

Actuarial/science or numerically focused undergrad

A-level Maths (A)

GCSE English Language (B)

Tools

Excel

SQL

VBA

Job description

At NFU Mutual, our actuaries sit at the heart of our business, helping us understand risk, manage reserves and ensure we remain financially strong for our customers. You'll join our close-knit Actuarial team, working alongside actuaries and analysts to support key business decisions. You'll gain exposure to a range of activities, including:

Key responsibilities

• Calculation and analysis of reserves (the money we hold to pay future claims)
• Analysing data and trends to identify key insights
• Profitability analysis and business planning
• Sharing technical management information (MI) and insights with the business
• Working with actuarial models and tools
• Support process improvement and reporting

This is a varied and hands-on role where you'll be trusted and encouraged to contribute, apply your analytical skills, and support real business outcomes from an early stage. This placement year offers a fantastic opportunity to develop your skills and gain valuable experience within a core actuarial function. It may be ideal undergraduates in the penultimate year of their degree who are looking to gain practical experience before graduating. Your development Although you'll be a key member of your team, you'll also gain exposure to how different actuarial areas connect across the wider function. We'll support you with:

Training & Development

• Structured on-the-job training and guidance from experienced actuaries
• Opportunities to build your technical skills, including Excel, data analysis, and potentially SQL
• Involvement in team and departmental projects
• Opportunities to present your work and share insights, including an end-of-placement presentation on what you've learnt

Entry Requirements

• Penultimate year of an undergraduate degree in actuarial science, mathematics, statistics, economics or another numerically focused subject, with an 'A' in A-Level Maths, other A-Levels at grade B or above, and at least grade 6 (B) in GCSE English Language
• Developed a strong understanding of working in an actuarial function within a successful insurance company
• Built on your practical analytical and problem-solving skills
• Gained insight into how actuarial work supports wider business decision-making
• To be successful in this role, you'll be working towards a degree in actuarial science, mathematics, statistics, economics, or a related numerically focused subject. You'll also need strong academic foundations in Maths and English, including an 'A' in A-Level Maths and at least a grade 6 (B) in GCSE English Language.

We're looking for someone who can bring

• Strong communication skills - able to explain complex ideas clearly and confidently
• Data confidence and curiosity - comfortable working with data and keen to develop technical skills
• Analytical thinking - able to interpret data, identify trends and draw meaningful conclusions
• Organisation and prioritisation - managing multiple tasks and deadlines effectively
• Problem-solving skills - approaching challenges logically and creatively
• Attention to detail - producing accurate, high-quality work

Experience with Excel or programming (e.g. SQL/VBA) is beneficial but not essential - we'll support you in developing these skills. Any work experience would be valuable but is by no means a requirement. What really matters is your curiosity, enthusiasm and drive to learn. If you bring an open mind, a positive attitude, and a willingness to get involved, we'll give you all the guidance and opportunities you need to make the most of your time with us.

We're one of the UK's leading general insurance and financial services organisations, and for over 110 years we've put our customers at the heart of everything we do. Our people are just as important to us, so we're proud to be recognised as "a great place to work". Our Gallup Exceptional Workplace 2026 award was not only awarded with Distinction, but it also marked us as the first UK based company to earn a Gallup Exceptional Workplace award for eleven consecutive years. We've also been consistently recognised by Glassdoor. We appeared in the Glassdoor Best Places to Work UK list in 2023, 2024 and 2026 - and in 2026, we were the highest ranked insurance business in the UK, highlighting our strong employee experience and the positive feedback our people share on the platform. Additionally, we were named in the LinkedIn Top Companies 2026 list of "Best midsize employers to grow your career in the UK", and we've been certified as a UK Top Employer by the Top Employers Institute in 2023, 2024, 2025 and 2026. We offer a supportive and empowering culture where people are inspired to perform, given opportunities to grow, and recognised and rewarded for their contribution. Our people are proud to work for a company that respects them and their communities, and they trust us to be financially sustainable-so we're successful now and in the future.

At NFU Mutual, we support an inclusive workplace and value all the differences that make us unique. We celebrate the creativity and innovation that comes from diverse perspectives and experiences and share a common vision of doing the right thing for our customers and employees. We recognise that some candidates may experience barriers during the recruitment process. So, we encourage candidates to discuss any adjustments or accommodations they need to be the best they can be throughout our recruitment process. We're proud to be a Disability Confident Employer, a Race at Work and Women in Finance Charter signatory and welcome applications from people of all backgrounds, regardless of age, ethnicity, disability, neurodiversity, gender, religion, marital status, sexual orientation, or socioeconomic background.

Benefits and Rewards

• Salary £31,864 per annum
• Annual bonus (up to 10% of salary)
• Contributory pension scheme, up to 20%, including your 8% contribution
• 25 days annual leave + bank holidays + buy/sell/save holiday trading scheme
• A Family Friendly policy that helps you balance your work and family responsibilities
• Access to savings at High Street brands, travel and supermarkets
• £20 contribution to a monthly gym membership - subject to T&Cs
• Health and wellbeing plan - cashback for dentist, opticians, physio and more
• Access to voluntary benefits, including health assessments, private medical insurance and dental insurance
• Employee Volunteering - volunteer in the community for one day each year
• Mentoring opportunities to help you grow your career
• Unlimited access to Refer a Friend £500 bonus scheme
• Life Assurance cover of 4 x salary
• Employee discounts of 15% on a range of NFU Mutual insurance policies.
• Salary sacrifice employee car scheme - subject to eligibility