Actuary
© Myrzik & Jarisch

Actuary

Actuaries analyse the financial side of risk

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Natural disasters, sudden production stoppages, cyberattacks – the role of Munich Re's actuaries is to determine the amount of a financial loss before it can even occur.

How to put a price tag on an unlikely event

Actuaries need a range of subject-matter skills to evaluate likelihoods, understand the risks inherent in assets and the financial impact of contingencies. For this, they apply mathematical-statistical methods from actuarial science, develop models and evaluate and manage risks. But actuaries do not work in a vacuum. Their unique skill sets often lead them to the heart of cross-disciplinary teams, where they collaborate on challenging and complex tasks – and where team skills and effective communication are key.

Actuaries need expertise, imagination & analytical thinking

Our actuaries are advancing Munich Re in various projects

Comprehensive analyses & targeted modeling

The fact that actuaries perform many highly complex analyses and deal with mathematical models does not mean that they work independently of other specialist areas. On the contrary: teamwork and interdisciplinary exchange are the focus of their day-to-day work - as they are in the other departments at Munich Re. After all, a career in the actuarial department at Munich Re does not follow a particular pattern. Each member of the team has his or her own strengths and preferences, which, when combined as a whole, help make Munich Re what it is: one of the world's leading reinsurers.
Florian
© Myrzik & Jarisch
My focus area is to develop and prove pricing methodology for non-life reinsurance. My colleagues all have different skill sets and various cultural and professional backgrounds which is very fascinating.
Florian
Munich Re Germany, Munich
Senior Actuary

Apply now!

You are an expert passionate about your field and curious to explore new horizons. As a team player with excellent communication skills you thrive in diverse settings. You are all of this and more?

What we look for in actuaries

Strong financial knowledge and sense for business
Excellent communication and problem solving skills
Willingness for interdisciplinary cooperation
Ability to work in a team, social and intercultural competence

Current topics from Munich Re in the area of risks

Mental illnesses such as depression, schizophrenia or anxiety disorders present a particular challenge in life insurance. “But thanks to new approaches a fresh ideas this area in particular can have great potential “ says Daniela Krause, a specialist in psychiatry and habilitated scientist, who devotes herself to this topic as a medical consultant together with our customers.
With Munich Re's MIRA Digital Suite for life insurers, clients benefit from all the advantages of digitalization. Its services are the key to efficiency, product innovation and new client groups: MIRApply Physician for physician inquiries in the application process, MIRApply Insured for risk inquiries with applicants, and CLARA (Claims Risk Assessment) for application processing in the occupational disability benefit check. Via MIRA PoS, the cloud-based services can be fully integrated into the system landscapes of life insurers.
Hailstorms with large hailstones can cause extreme damage, especially when they hit conurbations. Such severe hailstorms in particular will increase significantly in Europe long term if climate change is not consistently curbed. This is the conclusion of a new study by Munich Re in cooperation with the European Severe Storms Laboratory (ESSL).
Actuaries play a key role in our business success
© Myrzik & Jarisch
Actuaries play a key role in our business success
141
141 years of experience in risk management
1st Place
1st place on the list of the top 50 reinsurance groups worldwide
Nr. 1
Market leader in cyber risk management
100%
Employees with regular development meetings

Meet actuaries at Munich Re

Janett
© Myrzik & Jarisch
Reinsurance is complex and evolves in step with the world around us. My talented, knowledgeable colleagues with diverse backgrounds across the world enrich my life.
Janett
Munich Re
Actuary in Corporate Underwriting, Pricing, Systems & Analytics

One area - diverse career opportunities

At Munich Re, no two careers are the same. As an actuary, this gives you the opportunity to tailor your own career to your individual needs and goals and to shape it yourself. We are happy to support and advise you in all of your plans and offer you development options that also take your respective life circumstances into account. Do you want to develop new methods and tools for underwriters? Or do you plan to specialize in non-life reinsurance? Or perhaps your goal is to help shape pricing in the primary insurance business? For all these goals and more, we offer you the right career steps. 

Challenges in the actuarial department

Your work will help underwriters determine the appropriate premiums for risks by developing new methods and tools or adapting existing ones to match your analysis results.
In many cases, the data available to you for your analyses will be inaccurate, not very meaningful or incomplete. This increases the demand on you and your colleagues. Your task is essentially to find patterns in this data. These, in turn, serve as a basis for you to make predictions that are as accurate as possible.
Applying complex mathematical methods and calculating numbers is one thing - interpreting the results and the underlying mechanics for colleagues from other departments or even customers is another. As an actuary, you must have the ability to present highly complex issues in a way that is accessible and understandable even to non-actuaries. After all, you occupy an important interface position both internally and externally at Munich Re.

Apply now!

You are an expert passionate about your field and curious to explore new horizons. As a team player with excellent communication skills you thrive in diverse settings. You are all of this and more?