Pricing Actuary

Munich Re Syndicate; London; On-site; GBP 60,000 - 80,000; Full time

Job summary

Join Munich Re Syndicate as a Pricing Actuary, where you'll assess pricing for large risks, develop pricing models, and support underwriting teams. This role emphasizes collaboration and effective communication, suitable for a qualified actuary with strong analytical skills. Enjoy a competitive salary and a flexible work environment dedicated to your professional development.

Benefits

Non-contributory pension

Private medical care

Life assurance

Qualifications

• Qualified actuary or extensive relevant experience.
• Experience with Cyber insurance advantageous.
• Familiarity with various modeling techniques for pricing.

Responsibilities

• Independently assess pricing for large risks and review binders.
• Support pricing team to meet Lloyd's standards.
• Develop and maintain pricing models.

Skills

Mathematical knowledge

Statistical knowledge

Communication

Business acumen

Interpersonal skills

Education

Qualified actuary by exams

Job description

Social network you want to login/join with:

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity are key drivers of our success and innovation. We believe leveraging diverse perspectives and backgrounds, and empowering all employees, motivates us to perform at our best and gives us a competitive edge. We are committed to building a strong, inclusive culture where everyone is welcomed and valued for their unique self-identity.

About us

MRSG is part of the Munich RE group, known for excellence and quality of service across primary and reinsurance markets. We operate in the Lloyd’s of London market and globally through offices in the UK, Ireland, the US, Asia, Singapore, Labuan, and Dubai.

Our solutions cover Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit, Property, Contingency, and Yacht insurance. Our purpose is to inspire confidence and foster innovation, enabling clients and businesses to thrive.

Pricing Actuary Responsibilities

• Independently assess pricing for large risks and review binders, communicating results clearly to underwriters.
• Support the pricing team to meet Lloyd’s standards, including technical risk rating and monitoring delegated underwriting contracts.
• Develop, review, and maintain pricing models across various classes of business.
• Analyze pricing data and validate model parameters.
• Assist in syndicate business planning processes.
• Produce and review pricing management reports.
• Conduct analyses for new business initiatives and perform independent reviews.
• Explore alternative data sources for pricing model parameterization.
• Support underwriting with portfolio analyses and performance management.
• Ensure all advice complies with TAS requirements.
• Promote good conduct to achieve optimal outcomes for customers and policyholders.
• Understand escalation procedures and responsibilities within the Product Conduct Risk Strategy Group, Underwriting & Claims Subcommittee, ExCo, and Board regarding Conduct Risk.

Knowledge and Skills

• Qualified actuary by exams or extensive relevant experience.
• Experience with Cyber insurance is advantageous.
• Strong mathematical and statistical knowledge in (re)insurance.
• Effective communicator, able to translate complex models into business terms.
• Strong business acumen and interpersonal skills.
• Team-oriented, willing to mentor junior members.
• Deep knowledge of actuarial methods, techniques, and their practical application.
• Familiarity with various modeling techniques for pricing.
• Willingness to develop further knowledge in pricing matters.
• Understanding of FCA regulations and insurance/reinsurance principles.

Your career with us

At MRSG, you’ll find opportunities for flexibility, development, and support to advance your career, along with a competitive salary and benefits promoting wellbeing and work-life balance, including a non-contributory pension, private medical care, life assurance, and more.