Life Insurance Pricing Actuary

2 months ago


Johannesburg, Gauteng, South Africa Munich Re Full time

Career Level: 3

We are seeking a skilled Actuarial Analyst to join our Technical Pricing Team within the Life Retail Product and Pricing division. This department is dedicated to ensuring profitable reinsurance operations throughout South Africa and Sub-Saharan Africa. By implementing precise pricing strategies, monitoring performance, and spearheading innovative product developments, we enhance the value of new business and embedded value.
Established in 1968, Munich Reinsurance Company of Africa provides life and non-life reinsurance solutions to clients across Sub-Saharan Africa from our central hub. Collaborating with our global colleagues, we address the world's most pressing challenges with reliability and innovation.

Your Responsibilities:

• Conduct experience reviews and pricing analyses across all regions.
• Price new business initiatives and contribute to product development.
• Ensure compliance with Munich Re's actuarial and risk management standards.
• Lead or participate in various projects undertaken by the life team, including tenders, specific client projects, and experience analyses.
• Collaborate with client managers, underwriting, claims, valuations, and operations to deliver effective product propositions.
• Support the client management strategy by conducting research and acting as the pricing expert alongside client managers.
• Assist the Head of the Retail Pricing team and the Head of the Retail team in delivering high-quality actuarial consulting services in pricing, product development, and risk management.
• Strive for optimal process efficiency.

Your Qualifications:

• Minimum of 4 years of relevant experience in the Life reinsurance or insurance sector.
• Newly or nearly qualified actuary.
• Proficient in pricing with a solid technical understanding of Life products, including mortality and morbidity rate setting and experience.
• Familiarity with actuarial modeling software, Excel, VBA, SQL, and Power BI.
• Strong verbal, communication, presentation, and negotiation skills.

At Munich Re, we celebrate and value the diversity of backgrounds, experiences, perspectives, and ideas. This diversity forms the foundation of our open culture and collaborative spirit, shaping how our teams are built, nurtured, and supported.



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