Direct Property Pricing Lead

Munich Re; Greater London; On-site; GBP 90,000 - 140,000; Full time

Benefits offered by this job

25 days annual leave

10% non-contributory pension

Annual bonus eligibility

Private medical + dental insurance

Critical illness + life insurance

Wellbeing & development scheme

Hybrid working + IT home setup support

Job summary

Munich Re Specialty - Global Markets (MRS-GM) is seeking a Direct Property Pricing Lead in London for a 9-month fixed term contract with hybrid working 2-3 days per week. You will own property pricing, collaborate with pricing actuaries and underwriters across Europe, and mentor junior team members.

The role requires strong actuarial knowledge, London market pricing experience, and familiarity with Lloyd’s standards. University degree in a quantitative field is preferred.

Qualifications

• Significant pricing experience in the London Market.
• Qualified actuary by exams OR extensive experience.
• Knowledge of Property direct / facultative insurance is an advantage.

Responsibilities

• Own the Property open market pricing for P&C, ensure timely reviews and model maintenance.
• Collaborate with pricing actuaries and underwriters across European offices.
• Mentor and supervise direct report(s) and review their work.

Skills

Pricing experience

Actuarial knowledge

Communication skills

Mentoring

Pricing modelling

FCA/Lloyd’s knowledge

Team player

Data analysis

Education

Mathematics/Actuarial degree

Tools

Pricing software

Job description

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.

Direct Property Pricing Lead

We are looking for a Direct Property Pricing Leadto join our team in the city of London for a 9 month fixed term contract with hybrid working of 2-3 days per week.

Responsibilities

• Demonstrate ownership of the Property open market business, including P&C, taking responsibility to ensure pricing reviews are undertaken in a timely manner and pricing models are developed and maintained as required
• Work with pricing actuaries and underwriters in MRS-GM European offices, providing pricing support and guidance where necessary
• Effectively manage, mentor and support your direct report(s), including managing their time, providing training and reviewing their work as required
• Work independently on individual pricing assessments of large individual risks, including clear communication of results to the underwriters
• Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks.
• Construction, review and maintenance of pricing models for varied classes of business
• Analysis of pricing model data including parameter validations
• Support for syndicate business planning process
• Production and review of pricing management information
• New business initiative analyses and independent reviews
• Investigation and utilisation of alternative data sources for parameterisation of pricing models
• Support underwriting within depth portfolio analyses and performance management
• Ensure all advice offered is in line with TAS requirements
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

• Significant pricing experience in the London Market
• Qualified actuary by exams OR extensive experience
• Significant experience with Property direct / facultative insurance an advantage
• Highly developed mathematical / statistical knowledge in (re)insurance
• Effective communication skills and ability to translate complex models in business terms
• Strong business acumen and interpersonal skills
• Team player and willingness to train junior members in the team
• Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment
• Knowledge of a range of modelling techniques and applications for pricing
• Current Lloyd’s market knowledge an advantage
• Willingness to continue to develop knowledge of any pricing related matters.
• Knowledge and understanding of FCA regulations and Lloyd’s standards
• Knowledge and understanding of the underlying principles of insurance and reinsurance

Education and Professional Qualifications Required / (preferred)

• University degree in Mathematics, Actuarial Science, Statistics, Economics or similar discipline.

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!

Benefits

• 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
• Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious