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  (Spain)

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.

If you would like to apply, please can you submitt your CV in English. 

You will be supporting the European business contributing to activities linked to the development and implementation of the strategy of Renewable, Property, Engineering, Cyber and Professional Indemnity primary insurance.

This role will work closely with the underwriting team supporting the Chief of Underwriting, the Country Heads and the London and Munich Finance teams. 

Responsibilities 

• Support the Actuarial Pricing team as required on all classes of business being developed in Europe, for example Property, Renewables, Cyber and Engineering.
• Provide assistance to actuaries within the Spanish actuarial hub, as needed.
• Support underwriters with any ad-hoc analysis or reporting requests.
• Case pricing of large or unusual accounts, including frequency severity simulations and/or experience based analysis
• Creation, maintenance and underwriter training of any new pricing tools required, working with the Actuarial Pricing team and local underwriters to ensure suitability and consistency.
• Create Pricing Management Information for use by Underwriters and senior management, reporting on all pricing KPIs as defined by MRS-GM Actuarial Pricing team.
• Clearly communicate pricing results to Underwriters
• Engage proactively and collaborate with relevant stakeholders, with a focus on pricing and performance. Be able to explain and justify your point of view.
• 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 commercial insurance.
• 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.
• 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.
• Ability to work in a small, dynamic team.

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