Pricing Actuarial Analyst (Life Reinsurance)

Munich Re; Greater London; On-site; GBP 65,000 - 85,000; Full time

Job summary

Munich Re UK Life is seeking a qualified pricing professional to join the Protection pricing team in the UK Market.

You will deliver quotes, perform experience analysis, set pricing assumptions and produce metrics to support commercial negotiations, while collaborating across the branch to drive efficiency and develop pricing tools and processes.

Strong analytical and numerical skills, proficiency in Excel and BI tools, and the ability to communicate results to senior stakeholders are essential.

Qualifications

• University graduate or equivalent.
• Commitment to train towards Actuarial qualification for which the Company will provide support
• Knowledge or experience of Pricing processes including production of experience analysis, assumptions setting and modelling methodology is desirable.
• Relevant knowledge or experience of the UK life insurance market, or relevant pensions knowledge.
• Strong analytical and numerical skills with a willingness to offer judgement calls where there is uncertainty.
• Ability to grasp new concepts and technical issues quickly, and communicate them effectively to colleagues.
• A team player who can adapt and work effectively with different people across the branch.
• Strong computer literacy, particularly in Microsoft Excel & Word skills but also experience with R, Python, Basic VBA or similar programming. Experience with Power BI is desirable.

Responsibilities

• Develop technical knowledge and expertise relevant to reinsurance pricing.
• Draft written reports and documentation for results and methods employed.
• Responsible for delivering accurate and timely work as part of a team working together towards deadlines.
• Assist with the delivery of quotes and projects which includes accurate manipulation of data and production of experience analysis, setting of appropriate Pricing assumptions and producing metrics to support the negotiation of commercial terms.
• Assist in the production of key metrics and analysis to support commercial negotiations both internally with key stakeholders and externally with clients.
• Develop relationships with the commercial teams and construct an important branch wide network of contacts.
• Represent the team and communicate results to senior management and other departments.
• Contribute to the team’s on-going drive to ensure we are the most efficient we can be by proposing and supporting improvements to Pricing tools and process’ and embracing new technology.
• Assist in the development and review of the Pricing basis and assumptions.
• Where required assist the commercial teams on their activities.
• Input in to team discussions on non-technical topics (including people and culture) and show an interest in branch wide initiatives.
• Develop an understanding of the UK life insurance and Longevity market.

Skills

UK life insurance market

Pricing processes

Analytical skills

Numerical skills

Excel

Power BI

R

Python

VBA

Communication

Teamwork

Education

University graduate or equivalent

Commitment to actuarial qualification

Tools

Power BI

R

Python

VBA

Excel

Job description

Munich Re UK Life is seeking a qualified pricing professional to join the Protection pricing team in the UK Market.

You will deliver quotes, perform experience analysis, set pricing assumptions and produce metrics to support commercial negotiations, while collaborating across the branch to drive efficiency and develop pricing tools and processes.

Strong analytical and numerical skills, proficiency in Excel and BI tools, and the ability to communicate results to senior stakeholders are essential.