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Business Development Manager

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 14556 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch:

With the office in Munich, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.

At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.
In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.

About the role:

We are looking for a high-performing Senior Business Development Manager to play an integral role in delivering Munich Re’s Ambition 2030 and strengthening our position as a strategic partner of choice in the UK and Irish life and protection market. This is a senior client-facing role for an experienced individual who can combine market insight, relationship leadership, disciplined execution and strong commercial judgement whilst acting as a trusted deputy and providing strategic support to the Head of Business Development.

Key Responsibilities:

  • Own and develop senior relationships with allocated clients, building trust, credibility and long-term partnership value.
  • Develop and execute clear business development strategies that are aligned to Ambition 2030, client priorities, Munich Re’s risk appetite and profitability expectations.
  • Generate and convert profitable new business opportunities across relevant product lines, ensuring commercial opportunities are appropriately prioritised and progressed.
  • Take accountability for the profitability and performance of existing business, escalating and leading action where terms, rates, treaty structure or client engagement require review.
  • Act as a trusted adviser to clients by understanding their strategy, market position, decision-making structures and reinsurance needs.
  • Use market, competitor and client insight to identify emerging opportunities, threats and areas where Munich Re can differentiate its proposition.
  • Lead complex client discussions and negotiations, balancing commercial growth, risk, profitability and relationship considerations.
  • Coordinate internal expertise across pricing, underwriting, claims, operations, legal, product and senior leadership teams to deliver high-quality client outcomes.
  • Support the Head of Business Development by driving forward agreed strategic priorities, providing clear client insight and acting as a senior representative of the Business Development function.
  • Contribute to raising Munich Re’s profile in the UK and Ireland market through high-quality client engagement, market representation and proactive relationship-building.
  • Support the development of Business Development Mangers through coaching and mentoring.
  • Maintain disciplined records of client meetings, actions, opportunities and decisions through the company CRM system.

The successful candidate will ensure:

  • Client relationships are stronger, broader and more senior, with Munich Re viewed as a credible strategic partner.
  • Business development activity is targeted, commercially disciplined and visibly aligned to Ambition 2030.
  • New business opportunities are identified early, progressed with momentum and converted where they meet Munich Re’s commercial and risk criteria.
  • The Head of Business Development has greater strategic support, market intelligence and senior capacity across priority client relationships.
  • Internal teams are well coordinated, with clear ownership, timely follow-through and strong client delivery.
  • Existing business is actively managed, with risks, profitability concerns and relationship issues addressed proactively.
  • Development through feedback and reflection, seeking out opportunities to learn and demonstrate growth in the role.

Competencies:

Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.

Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.

Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.

Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.

Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.

Key Skills & Experience:

  • Strong business development, account management and strategic client relationship experience in financial services, insurance or reinsurance.
  • Deep commercial judgement, with the ability to balance client opportunity, profitability, risk appetite and long-term relationship value.
  • Proven ability to lead senior client conversations, influence decision-makers and negotiate commercially robust outcomes.
  • Strong understanding of the UK protection market.
  • Excellent communication skills, including the ability to produce high-quality material and present complex issues clearly to senior audiences.
  • Strong internal influencing skills, with the ability to mobilise technical experts and senior stakeholders around client priorities.
  • Highly organised and disciplined, with the ability to manage multiple client priorities, actions and deadlines at pace.
  • Comfortable operating with autonomy, ambiguity and accountability in a senior commercial role.
  • Actuarial, underwriting, pricing, product, reinsurance or broader protection market experience would be advantageous.

Leadership Expectations

  • Act as a trusted deputy and strategic support to the Head of Business Development where required.
  • Operate as a senior member of the Business Development team, setting a high standard for client engagement, follow-through and commercial discipline.
  • Anticipate future client and market needs, translating long-term opportunities and risks into clear strategic plans.
  • Provide constructive challenge and insight to support better commercial decisions.
  • Role-model collaboration across functions, ensuring client opportunities are progressed in a way that reflects the strength of the whole Munich Re proposition, holding yourself and others accountable.
  • Demonstrate resilience in the face of setbacks, learning quickly and adapting the approach to maintain momentum and deliver strong client and commercial outcomes.
  • Bring energy, curiosity and external perspective to help the team adapt and succeed as the market evolves.

Qualifications and Educational Requirements:

Qualified actuary (desirable)

Thought Leaders:

You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.

You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the Senior BDM role will also become responsible for:

  • Ensure compliance with Insurance Distribution Directive
  • Satisfying all regulatory reporting requirements in collaboration with the reporting function
  • Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
  • Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

We are one of the few employers to offer fully paid  6months family leave for times when you need it the most. 

About us

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.

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!

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.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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