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.
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
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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
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?
