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Actuarial Graduate Trainee Programme London 

Accelerate your start into actuarial expertise 

Actuaries are problem solvers and strategic thinkers. They leverage their mathematical skills to measure the probability of future events and craft tailored solutions that drive business growth. With a keen eye for numbers and a passion for creative problem-solving, they play a pivotal role in driving business success, influencing key areas such as financial reporting, pricing risk, data analysis and digital innovation. 

As a graduate you'll join a dynamic team, collaborating with experts from diverse backgrounds to develop and refine models, evaluate and manage risks, and interpret data to inform business decisions. 

Duration: 3 years  
Start date: September each year  
Recruitment timeline: Applications open in September, with the deadline to apply in October. 
Hiring units: Actuarial teams within one of the following entities: Munich Re UK Life Branch (UKLB) or Munich Re Great Lakes (GLLB). Find out more about these entities at the bottom of this page. 

What's in it for you:

  • Learn from experts through on-the-job training and mentorship 
  • Gain broad experience via internal rotations across a range of actuarial teams 
  • Develop personally and professionally through tailored workshops, regional orientations, and case study exercises 
  • Receive support for your actuarial exams including study leave, mentoring, wellbeing support, and financial sponsorship 
  • Work towards qualification with the Institute and Faculty of Actuaries (IFoA), gaining both the professional accreditation and valuable on-the-job experience required to qualify as an actuary 

What we're looking for:

  • Strong motivation to pursue the Actuarial exams and develop a long-term career in the actuarial profession 
  • A minimum 2:1 degree (or equivalent), achieved or expected 
  • A recognised degree in any discipline; however, we particularly value backgrounds in STEM, Finance, Economics, or Statistics 
  • A numerate and analytical mindset, with the ability to solve complex problems and communicate insights effectively 
  • No prior exam exemptions are required — full study support will be provided throughout the qualification process

Please note: we support visa applications for successful applicants. 

Applications Closed: The window for the 2026 Actuarial Graduate Trainee Programme is now closed. Stay informed! Set up a job alert to be notified when recruitment for the 2027 Trainee Programme opens in autumn 2026. 

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Hear directly from our trainees

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© Munich Re
I’ve been exposed to a wide variety of business lines and been afforded the opportunity to work in multiple teams, including taking the lead in valuation projects and building new tools in Python & R.

Beth

Actuarial Graduate Trainee 
Munich Re UK, London

How to apply
for the Actuarial Graduate Programme
in London 

Across the assessment process, you will be speaking with stakeholders from the business including some of our recently hired grads. Overall, you will be assessed on your numerical, analytical and communications skills. 

1 / Online Application (10 minutes) 
Submit your CV and complete a short application form. You’ll automatically receive a link to complete an online test. 

2 / Online Test (approx. 45 minutes to complete) 
Complete a short survey and cognitive ability assessment. 

3 / Telephone Interview (60 minutes) 
A competency-based interview to help us get to know you and your motivations better. 

4 / Assessment Day (Half day) 
Join us at our London office to take part in group tasks and exercises designed to assess your skills and potential. You’ll also meet our team, plus have an opportunity to ask questions and experience our dynamic work environment first-hand. 

5 / Final Round Interview and Presentation (60 minutes) 
You will be invited to participate in two virtual meetings with senior leaders from Munich Re UK. These will comprise a presentation and a technical interview. 

Download job description

Explore the business entities we are hiring for

Munich Re United Kingdom & Ireland (Life) 

Providing reinsurance solutions for life and health products as well as removing longevity risks for insurers and pension scheme trustees.  We also help insurers to strengthen their capital and liquidity position. 

Learn more

Great Lakes Insurance SE 

Drawing on the experience and solidity of Munich Re, Great Lakes Insurance SE (Great Lakes) conducts delegated authority and coinsurance business and provides covers for complex single risks.

Learn more

FAQ

Is this a permanent position? 

Yes – hires onto this programme are offered permanent contacts from the start.

How many positions are available? 

We typically recruit 2-4 graduate trainees across Munich Re UK each year. 

How does this differ from the International Graduate Trainee Programme?  

Our Actuarial Programme is more specialised, focusing on developing your technical expertise and guiding you towards actuarial qualification. 

Do I need to have exemptions from the actuarial exams? 

No - we support all graduate trainees for their exams regardless of exemptions. Additionally, there is no preference to students who do or don’t have exam exemptions.

What support will I receive for exams?  

We offer paid study leave (up to 1 day per week depending on the exams being taken), cover exam fees and materials, and provide mentoring and guidance to help you succeed. Of course, full days off are given for the day of any exams.

Are international placements available? 

While not guaranteed, short-term international secondments (2-3 months) are possible for strong performers and with the personal drive to make this happen. 

Is there flexibility in the start date?  

Yes, we are willing to be flexible over your start date. Please discuss this with us through the recruitment process. 

What are the working hours and working pattern? 

Employees typically work 7-8 hour days (so a 9-5/6 with an hour lunch break). This can vary slightly depending on working volumes and deadlines. We operate a hybrid working model, combining office collaboration with remote work. 

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