Skip to main content
Get Job Alerts Saved Jobs View All Jobs

Pricing Actuary

Location Madrid, Spain Job type Full-Time Work mode Hybrid Job level Professional Job ID 10810 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Actuarial & Risk Management
Apply Now

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.     

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Pricing Actuary, Property (Europe)

We are looking to employ a Pricing Actuary to be based in Spain, Madrid on a full time basis. We offer hybrid working with 2-3 days per week in the office. 

In addition to the day-to-day tasks, you will contribute to activities linked to the development and implementation of the strategy of Property primary insurance across Europe. 

This role will work closely with the underwriting team supporting the Chief of Underwriting (Property), the Property Country Heads, as well as the London Finance and global Corporate Underwriting teams. 

Responsibilities

  • Support the development and enhancement of technical and commercial pricing capabilities for the Property products in Europe, with initial focus in Spain.
  • Support the wider MRS-GM Actuarial Pricing team as required on other classes of business being developed in Spain, for example Renewables, Cyber and Engineering.
  • Assist underwriting teams with product design ensuring any changes are correctly priced.
  • Track price adequacy and performance and lead profitability exercises using modelling and reserving techniques, as required.
  • Conduct technical analyses, investigations (e.g. inflation) and independent deep dive reviews.
  • Stay current on market dynamics and actuarial developments, including frequency, severity and exposure accumulation trends, and determine how such trends should be accounted for in pricing.
  • Work independently on individual pricing assessments of risks, including clear communication of results to the underwriters.
  • Present results to a variety of stakeholders to provide insight and recommendations on pricing and performance related results.
  • Maintain and improve governance procedures to cater for internal and external requirements.
  • Work collaboratively and delegate work as required.
  • Engage proactively and collaborate with relevant stakeholders, with a focus on pricing and performance. Be able to explain and justify your point of view.
  • Conduct actuarial analysis to support the onboarding additional territories or new MGAs for Property business.
  • Participate in Munich Re Specialty projects and initiatives to improve modelling capabilities and streamline pricing processes.
  • Contribute to expanding the breadth of actuarial, modelling and statistical techniques used across the team, engaging and collaborating across the wider Munich Re Speciality pricing and underwriting teams to bring innovation to pricing and underwriting.
  • Stay up-to-date with market dynamics, industry trends and emerging technologies that could impact the Property market with focus in the territories of Munich Re’s market presence.
  • Ensure all advice offered is in line with actuarial standards and other appropriate guidelines, including Munich Re’s own guidelines and standards.
  • Ensure compliance with regulatory requirements. Help drive forward good Conduct for the business to deliver the best outcomes for the customers.

Knowledge and Skills

  • Expertise in pricing Property insurance, ideally alongside pricing knowledge of a range of other general insurance classes.
  • Experience in working independently and managing senior stakeholders.
  • Proven experience with modelling and data.
  • Good understanding of standard reserving methods.
  • Strong analytical skills and attention to detail, with a proven ability to work collaboratively with underwriters.
  • Good knowledge of Property insurance products and the European market, insurance processes and regulatory requirements.
  • Foundational knowledge and understanding of global macroeconomics and financial markets.
  • Excellent written and verbal communication skills, including report writing, presentations and ability to present complex analyses to senior management.
  • Ability to build and sustain strong working relationships with a variety of internal and external stakeholders.
  • Fluency in English is a must, other European languages are also an advantage.

Education and Professional Qualifications Required

  • University Degree in a quantitative field such as Mathematics, Actuarial Science or Statistics
  • Accredited actuary with one of the actuarial associations, or qualified by experience. 

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!


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.


Learning and innovating today, striving for sustainable societies and business tomorrow 


At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Benefits

  • 25 days Annual Leave + bank holidays
  • 10% Non-contributory Pension
  • Eligibility for an Annual Bonus
  • Private Medical + Dental Insurance
  • Critical illness insurance + Life Assurance + Permanent Health Insurance
  • Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
  • Electric Vehicle Salary Sacrifice Scheme
  • Study & continuing Professional Development Support
  • Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious 

Apply Now

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.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

Explore Location

This may interest you

Featured Jobs

View jobs to show jobs list.

Save jobs to show jobs list.

View All Jobs

Activate your job alert

Looking for the ideal professional challenge? Stay informed with the Munich Re Group job alert service: Munich Re, ERGO Group and MEAG offer a wide range of opportunities. Once you have set up the service, you'll receive automatic email updates on new job vacancies that match your search criteria.

Interested InPlease select a category, location, and/or company option. Click “Add” to create your job alert. You can add more than one combination to your alert.

By signing up, I acknowledge that I have read the privacy policy, and I wish to receive email communications.

To complete the Job Alert, your e-mail address, and the filter criteria you selected will be processed. The processing of the data is exclusively for the purpose of sending the Job Alert e-mails. With deletion of the Job Alert, your data will also be deleted. You can find further information about our imprint here: Privacy Policy.