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Pricing Actuary (Life Insurance)

Location Sydney, Australia Job type Full-Time Work mode Hybrid Job level Professional Job ID 14271 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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The Life team provides reinsurance services for the life industry in Australia and New Zealand.

The Life team operates in Retail, Group and Direct markets. 

We have expertise in many areas, such as product, pricing, claims management underwriting. 

The Commercial team oversees MRA’s client relationships, with a focus on Retail and Direct insurance. The team provides advice into all aspects of pricing, product design, claims, underwriting. The team also brings Munich Re’s global insights and capabilities to the Australian and New Zealand market.

Your Role

  • Leading projects to drive technical assessments and commercial outcomes in a cross functional environment
  • Performing actuarial modelling, analysis and reporting in support of:
    • Profitability analyses on in force portfolios
    • Recommendation on pricing of existing business
    • Client requests for changes to existing business (including updated product definitions, changes to underwriting processes, etc.)
    • Pricing of new products and treaties
  • Enhancing internal models and processes to improve efficiency
  • Working with internal SMEs and clients to agree changes to Treaty documentation
  • Develop and build client relationships and support MRA’s client strategy
  • Support the effective management of commercial negotiations including engagement with key internal and external stakeholders

Your Profile

  • Up to 5 years post-qualification experience as an Actuary, in a Life (re)insurance pricing or reserving environment
  • Knowledge of relevant insurance law in Australia and New Zealand
  • Strong knowledge of individual and/or group risk products – product features, benefits, pricing, reserving, for the Australian and NZ markets
  • Strong modelling and Excel skills
  • Engaging - Effectively communicate, share knowledge and support initiatives and projects
  • Problem solving – ability to proactively consider, research and recommend pragmatic solutions to tasks and problems
  • Interpersonal – ability to build and maintain effective professional relationships with all stakeholders based on trust and a constructive and collaborative approach
  • FIAA Qualified, or well-progressed towards qualification. 

We see DEI as a business imperative, helping us to attract, grow and inspire a diverse, inclusive, and equitable workforce that better enable us to serve our customers, investors, and communities. Globally, we strive to build balanced teams across all aspects of difference. If you are interested in the role and believe you could contribute, we encourage you to apply even if your experience doesn't perfectly match every qualification.

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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.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

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