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Property Delegated Pricing Lead

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 10845 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Actuarial & Risk Management
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At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.  

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

Property Delegated Pricing Lead

We are looking for a Property Delegated Pricing Lead to join our London City office on a full time basis with Hybrid working of 2-3 days per week.

Responsibilities

  • Demonstrate ownership of the delegated Property business, taking responsibility to ensure pricing reviews are undertaken in a timely manner.
  • Work with pricing actuaries and underwriters in MRS-GM European offices, providing pricing support and guidance where necessary.
  • Effectively manage, mentor and support your direct report(s), including managing their time, providing training and reviewing their work as required
  • Work independently on individual pricing assessments of large consortia and binder reviews, including clear communication of results to the underwriters
  • Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts
  • Ensure pricing analyses meet the Munich Re GSI requirements, including the Delegated Authority best practice guidelines
  • Support for syndicate business planning process
  • Production and review of pricing management information
  • New business initiative analyses and independent reviews
  • Investigation and utilisation of alternative data sources for parameterisation of pricing models
  • Support underwriting within depth portfolio analyses and performance management
  • Ensure all advice offered is in line with TAS requirements
  • Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
  • Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

  • Significant pricing experience in the London Market
  • Significant experience with Lloyd’s delegated insurance a necessity, particularly within Property
  • Highly developed mathematical / statistical knowledge in (re)insurance
  • Effective communication skills and ability to translate complex models in business terms
  • Strong business acumen and interpersonal skills
  • Team player and willingness to train junior members in the team
  • Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment
  • Knowledge of a range of modelling techniques and applications for pricing
  • Current Lloyd’s market knowledge
  • Willingness to continue to develop knowledge of any pricing related matters.
  • Knowledge and understanding of FCA regulations and Lloyd’s standards
  • Knowledge and understanding of the underlying principles of insurance and reinsurance
  • Progress towards actuarial exams is an advantage 

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

#BePresent #BeBold #BeCurious

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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