A core task of Central Reserving is to conduct the quantitative and qualitative assessment of non-life business segments as well as to review the portfolios of branches and subsidiaries across the world. Further reserving tasks comprise a wide variety of topics, as for example actuarial analyses such as multi-year analyses, pricing-reserving comparisons, or detailed portfolio analyses as well as the large loss expectations for the reinsurance portfolio. Based on these tasks, Reserving plays a central role in the internal and external non-life reporting of Munich Re. Within the department, you will focus on reserving tasks related to Great Lakes Insurance SE, a primary insurance company of Munich Re. You will work in an international team with colleagues based in Munich and London. To complement our team of experts in this area, we are looking for motivated individuals to perform in-depth analyses on the Great Lakes technical provisions and to translate results into a reporting and business context. This position is full-time (37 hours per week).

Your job

• Evaluating reserves based on actuarial methods in combination with portfolio knowledge and market factors for selected non-life segments
• Communicating with underwriting and pricing, but also with controlling, accounting, risk management and claims staff to obtain necessary information and to share relevant findings with experts around the globe
• Leading or participating in reserve reviews performed for/at Munich Re branch offices in Europe and Asia, thereby assuming tasks of the responsible reserving actuary
• Performing actuarial analyses (multi-year analyses, pricing-reserving comparisons, portfolio analyses) and creating presentations for various stakeholders, such as board committees, business units or auditors
• Actively supporting and developing the evaluation of large loss expectations for the world-wide reinsurance portfolio
• Contributing to quarterly and annual internal as well as external (IFRS17, SII, HGB) reporting with regards to the non-life reinsurance business
• Supporting automation and complexity reduction as well as the transition towards new ways of collaboration

Your profile

• University degree in actuarial science or mathematics or related field with a strong quantitative focus
• Actuarial education (Aktuar DAV or similar degree of other actuarial society), intended or completed (qualification supported by Munich Re)
• Experience in non-life reinsurance loss estimation (applicable experience can include reserving, pricing, underwriting, risk management or controlling) advantageous
• Ability to influence, consider feedback and communicate appropriate decisions to employees at all levels of the organization
• Excellent quantitative and analytical skills with emphasis on practical application
• Strong verbal and written communication skills, including the ability to explain technical concepts to non-technical audiences (English required, further languages beneficial)
• Motivated, open-minded with team-oriented focus and discreet concerning confidential matters

About us

As the world’s leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel.

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.

Sounds like you? Push boundaries with us and be part of Munich Re.

Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: appropriate compensation for your high level of commitment.
• Retirement provision: state of the art in-house pension solutions.
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: focus on your physical and mental health far beyond legal requirements.
• Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.