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Life Pricing Actuary

Location Madrid, Spain Job type Full-Time Work mode Hybrid Job level Professional Job ID 12085 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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Our Pricing team in Madrid supports Munich Re’s business across Southern Europe (Spain, Portugal, Italy, Malta) and Latin America, providing with top‑quality actuarial and risk‑management expertise.

We’re looking for a Life Actuary to join our Pricing team. In this role, you’ll be involved in pricing Life & Health reinsurance business, working closely with financial reinsurance unit. You’ll help shape strategic plans, support innovative reinsurance solutions, and contribute to key projects within the department. This position is based in Madrid.

By joining the regional Pricing team, you’ll become part of an international community of Life & Health actuarial experts across Europe and Latin America. From a business perspective, you will report to the Actuarial Pricing Manager.

Your Role:

  • Perform technical pricing of financial reinsurance opportunities assuring all tasks are carried out in accordance with the relevant guidelines and authorities
  • Develop, update, and validate best‑estimate assumptions through experience studies and sensitivity analyses
  • Build and maintain actuarial models that accurately reflect the technical dimensions of financial reinsurance structures
  • Partner closely with financial reinsurance specialists to translate actuarial insight into structuring alternatives and ensure technical soundness and consistency
  • Contribute to the monitoring, valuation, and analysis of both existing and new business
  • Provide expert inputs on risk assessment 
  • Collaborate across regions to share knowledge, promote actuarial expertise, and maintain strong international connections

Your Profile:

  • A degree in statistics, mathematics, or actuarial science, ideally fellow member of an international recognised Actuarial Association
  • 5+ years of experience in actuarial functions within life and health insurance industry
  • Demonstrated expertise in advanced statistical analysis, data analytics, and actuarial modelling including coding skills (e.g., Python, R, or similar)
  • Fluency in Spanish and strong business English. Portuguese or Italian is a plus

We value candidates who demonstrate:

  • Independence and the ability to prioritize effectively
  • Team spirit and a willingness to share knowledge
  • Strong communication skills
  • Solid analytical thinking, with a logical and concise approach and a strong attention to detail.
  • Ownership, responsibility, and resilience under time pressure

About us
As the world's leading reinsurance company with more than 16,000 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.
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. 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.
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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