Graduate Trainee Program

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Munich Re International Graduate Trainee Program

Our International Graduate Trainee Program will give you a thorough induction into the many different activities of a leading global reinsurer and advance your personal development.

A firm grounding for your career plans

We are seeking innovative and highly talented candidates for our Munich Re International Graduate Trainee Program, a program designed to attract recent college graduates and prepare them for future professional roles in the underwriting and actuarial fields. The program prepares our Risk Analysts for the diverse challenges of the reinsurance business, and lays the foundation for their continued development in one of the most varied and fascinating industries. 

The two-year program is an experience-based program combining foundational coursework, rotational assignments, and business skills training. Industry exams will be utilized as a portion of the evaluation process. In addition to having access to subject matter experts throughout the program, the successful candidates will also have mentors to help guide them through the program.

Methodology

This two-year program incorporates various learning styles. Classroom training, similar to a university setting, is conducted by some of the company’s leading underwriters, actuaries and other professionals. Rotational assignments throughout the company and  case studies will offer the Risk Analysts hands-on, real life experiences tailored to build their skills and will afford the candidates the opportunity to quickly make meaningful contributions to our business.

 

One- to three-month rotational assignments will allow our Risk Analysts to gain exposure to a variety of business functions and projects.  Working side-by-side with senior subject matter experts, the Risk Analysts will have the unique opportunity to develop their skills and competencies through hands-on experiences.  Throughout the rotations, the Risk Analysts will be expected not only to learn about the business and industry but also to make meaningful contributions within each assignment.  While most rotational assignments are in Princeton, NJ, some may be in branch offices in the US and one 3-month rotational assignment  will be in an international office.  Rotational assignments in various functional areas throughout the company include but are not limited to:

 

  • Primary Insurance Company
  • Contracts
  • Actuarial Pricing
  • Reinsurance Underwriting
  • Claims
  • Reinsurance Accounting

Scope

The program covers the fundamentals of insurance, including policy forms, underwriting, and pricing. Reinsurance is studied from the legal, underwriting, accounting, contractual and pricing perspective. To build well-rounded underwriters and actuaries, the program also exposes the candidates to supporting divisions within the company, incorporating classroom and on-the-job experiences in insurance/reinsurance accounting, claims, financial markets and insurance law. Business practices skills such as negotiation, time management and presentation skills will also be taught and practiced throughout the program. Industry speakers and seminars will also be used throughout the program. Study time will be given to allow for classroom preparation.

Mentors

Each Risk Analyst will be assigned a senior actuary or underwriter to serve as a mentor during the 2-year program. The mentors are selected from among the company’s top underwriters and actuaries and will be available to the Risk Analysts for continuous technical and business guidance throughout the program. The mentors will also evaluate the Risk Analysts’ performance and provide feedback on an ongoing basis.

End product

At completion of the two- year program, each Risk Analyst should have completed either two additional Actuarial exams or eight Chartered Property Casualty Underwriter (CPCU) exams. Bonuses are given for the completion of these exams. Upon successful graduation from the program, the Risk Analyst will be offered a permanent position based on Company staffing needs and the Risk Analyst’s preferences.

Eligibility and criteria

If you are a strategic thinker, energetic, flexible and committed to excellence, you'll discover many exciting opportunities at Munich Reinsurance America, Inc. We are seeking candidates who possess the following criteria:

  • Bachelor or Master Degree in Actuarial Science, Risk Management, Math, Statistics, Economics, Finance, Accounting or Business Administration
  • GPA of 3.25 or higher
  • Demonstrated leadership abilities in college or community activities
  • Prior internships (at least one internship with meaningful degree of responsibility)
  • Superior communication skills (oral and written)
  • Good interpersonal skills
  • Willingness to work internationally
  • Preferred but not required:
    • knowledge of other languages (basic knowledge of one foreign language or expressed willingness to learn a second language
    • international experience (international internship, study abroad)

Contact

For more information about graduate trainee opportunities, please contact us.

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