Actuarial Graduate Trainee
Unlock your full potential and start your career at Munich Re
Actuarial Graduate Programme at Munich Re UK Life Branch
Actuaries are problem solvers and strategic thinkers. They use their mathematical skills to measure the probability of a particular event occurring in the future and find solutions accordingly.
From financial reporting to pricing risk, data analysis to digital innovation, Actuaries will have a say. This influential role means Actuaries contribute to many areas of the business and are essential to the success of the company.
Why Munich Re?
Munich Re is a leading global reinsurer. The thing that sets us apart from our competitors is not only our expertise, experience and drive for innovation, but above all, our People. Together, we embrace a culture where multiskilled teams dare to think big, where expertise comes from different disciplines as well as nationalities, genders and generations.
Munich Re actively invests in its employees where everyone can grow through development programmes, continuous conversations and feedback so we can train and develop our future leaders.
Our Actuarial Graduate Trainee Programme
Our Actuarial Graduate Trainee programme at Munich Re UK Life Branch is a fast-paced and exciting journey into one of the most varied and fascinating sectors out there – the world of reinsurance. As a trainee, you will be encouraged to explore many opportunities across the business in a wide breadth of areas and supported to gain your professional actuarial qualification.
You will tackle real-world challenges in a supportive environment with a global network of Munich Re experts at your fingertips.
What you will benefit from
By 28 October
By 31 October
31 October - 25 November
Tuesday 6th December
Is this a graduate programme or a permanent position? We offer graduates a permanent position so they are guaranteed a job permanently and do not, for example, have to reapply for a position upon completion of the programme.
How many positions are available? There are 2 to 3 positions available in the UK Life Branch. We may also consider you for other opportunities within the business.
Do we offer visa sponsorship? Yes.
How does this differ from the Group International Graduate Programme? This is a more specialised programme than the Group International Graduate Programme, and will better tailor your development towards becoming a qualified Actuary and a life insurance professional.
Are there minimum grade requirements, and any subjects that wouldn’t be considered? We expect candidates to have, or be predicted to achieve at least a 2:1 (or equivalent). However, this isn’t the only information that we consider when assessing candidates and good practical experience, strong test results or extenuating circumstances surrounding a degree result will also factor.
Similarly, whilst a numerate degree is preferable and would make the role and exams easier to pick up, not having this does not preclude you from the role. We consider candidates from all subjects.
Do I need to have exemptions from the Actuarial exams? No. We provide full study support for all exams regardless of the number of exemptions held. Additionally, there is no preference to students who do or don’t have exam exemptions, so do not be put off if you do not have exemptions.
What level of study support is offered? We provide study leave to our students to prepare for their exams. We cover the cost of all subscription fees, course material, tuition, examination fees, and provide a study mentor to advise and support you through the process. Students are entitled to up to 1 day of study leave per week (depending on which exams are being taken). Students are also given full days off for the day of any exams.
Are there any international placements offered? The Munich Re Group is an international organisation, with offices all over the world. The company would support a short term (typically 2-3 months) international secondment, but this is not guaranteed and depends on an individual’s strong performance and personal drive to make this happen.
Is there any flexibility over the start date? Yes, we are willing to be flexible over your start date. Please discuss this with us.
What are the working hours like, and how flexible are they? Working hours are flexible. Of course, as a new graduate, there is benefit from working at the same time as your team to pick things up quicker. In terms of working hours, people typically work 7-8 hour days (so a 9-5/6 with an hour lunch). This can vary slightly depending on working volumes and deadlines.
What is the working approach, and is it possible to work remotely? There is flexibility around working patterns and locations. This has proved beneficial during the pandemic where a hybrid of remote and office work was introduced. Hybrid working is now embedded in the way we work and will continue to be our model post-pandemic.