Munich Re Careers
Financial Reporting Actuary
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Together, we engage with everything we have and are, to help humankind act braver and better.
About UK Life Branch:
With the office in Munich, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.
At UK & Ireland Life we have three pillars to our business strategy: Protection, Longevity and Structured reinsurance. All three are key to the success of our business so it’s important to look at the big picture. In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.
About the Role:
We are seeking a high-calibre individual with relevant experience to be part of the UK Financial Reporting team. The team focuses on meeting the financial reporting requirements of the Branch. The job holder is responsible for significant contributions to the delivery of Solvency II, IFRS and HGB reporting across all lines of business, as well as supporting ambitious growth plans.
Key Responsibilities:
- Take responsibility for the production and analysis of financial projections, liability valuations, IFRS, Solvency II and HGB calculations across business lines in the context of planned ambitious business growth.
- Assist in the testing and implementation of valuation systems and provide guidance to team members.
- Draft written reports and documentation for results and methods employed.
- Develop technical knowledge and expertise relevant to insurance reporting and accounting.
- Develop ability to represent team and communicate results to senior management and other departments.
- Contribute ideas and support to positive development of Financial Reporting.
- Work with other departments within UKLB to ensure that inputs (including data and assumptions) to Financial Reporting are appropriate and reliable.
- Develop a sound commercial awareness of our business.
- Work successfully with the team across levels of seniority and train more junior team members.
Competencies:
- Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.
- Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.
- Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
- Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
- Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.
- Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.
- Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.
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Key Skills & Experience:
- Actuarial experience preferred but can be flexible for right candidate.
- Experience in life insurance. Valuation and financial reporting experience desirable.
- Computer proficiency, particularly in Microsoft Excel and VBA, Python desirable.
- Basic knowledge of IFRS, SII and other relevant regulations.
- Strong numerical and reasoning skills.
- Good verbal and written communication skills, necessary for presentation and discussion of results and report production.
- Ability to work independently and as part of a team.
- Effective management of own workload, including proposing and meeting realistic work deadlines.
- Taking initiative and employing a creative and proactive approach to solving problems and learning.
Qualifications and Educational Requirements:
- Qualified or nearly qualified actuary with in-depth understanding of actuarial practices.
Regulatory & Conduct Requirements:
In addition to the responsibilities set out above, the role will also contribute to:
- Satisfying all regulatory reporting requirements in collaboration with the rest of reporting function
- Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules
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Benefits
- You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%
- We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.
About us
- You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning.
- You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders.
- We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn.
- You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions.
- We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged.
At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.
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!
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.
Please note application closing date: 12th June 2026.
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