Life Actuarial Pricing Analyst

Munich Re; Johannesburg; On-site; ZAR 400 000 - 800 000; Full time

Job summary

An established industry player is seeking an Actuarial Analyst to join their Technical Pricing Team. This role involves performing experience reviews, pricing new business, and ensuring compliance with actuarial standards. You will collaborate with various teams to deliver innovative product propositions and support client management strategies. With a strong focus on life insurance, this position offers a dynamic work environment where your expertise in actuarial pricing and technical understanding of life products will be highly valued. Join a company that champions diversity and fosters a culture of partnership and collaboration.

Qualifications

• 4+ years of relevant experience in Life reinsurance or insurance business.
• Newly or nearly qualified actuary with pricing experience.

Responsibilities

• Perform experience reviews and pricing for all regions.
• Lead projects in the life team and ensure actuarial standards are met.

Skills

Actuarial Pricing

Technical Understanding of Life Products

Communication Skills

Negotiation Skills

Experience Reviews

Education

Actuarial Qualification

Relevant Experience in Life Reinsurance

Tools

Excel

VBA

SQL

Power BI

Job description

We are looking for an Actuarial Analyst for our Technical Pricing Team which falls under the Life Retail Product and Pricing department. The Life Retail Product and Pricing department ensures profitable reassurance business across South Africa and Sub Saharan Africa. This adds to the value of new business and embedded value by pricing appropriately, monitoring experience and managing new product innovations.

Established in 1968, Munich Reinsurance Company of Africa serves life and non-life reinsurance clients across the Sub-Saharan Africa from our hub in Johannesburg. Together with our colleagues globally, we influence, collaborate and can be relied on to tackle the world’s most pressing challenges.

Your Role:

1. Perform experience reviews and pricing for all regions.
2. Price new business, new initiatives and product development.
3. Ensure that Munich Re’s actuarial and risk management standards are met.
4. Lead / participate in the various projects undertaken by the life team such as tenders, specific client projects and experience analyses.
5. Coordinate and collaborate with client managers, underwriting, claims, valuations and operations to deliver product propositions.
6. Support the client management strategy e.g. perform research for and accompany client managers as the pricing expert.
7. Support Head of the Retail Pricing team and the Head of the Retail team in providing high quality actuarial consulting service to clients in the area of pricing, product development and risk management.
8. Ensure optimal process efficiency.

Your Profile:

4+ years relevant experience in Life reinsurance or insurance business.

Newly or nearly qualified actuary.

• Pricing Experience with sound technical understanding of Life products including mortality and morbidity rate setting and experience.
• Good experience with actuarial modelling packages, Excel, VBA, SQL, Power BI.
• Good verbal, communication, presentation and negotiation skills.

At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.