Job Description

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.

Marine Pricing Lead

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

As part of our global actuarial team, you will drive data-led pricing strategy, shape underwriting decisions, and influence portfolio performance across a diverse and complex marine book.

Responsibilities

• Assume responsibility for the pricing for the Global Markets Marine portfolio, including managing and appropriately prioritising case pricing reviews, development of tools and ad-hoc analysis independently and in a timely manner
• Work autonomously on individual pricing assessments of large risks and binder reviews for the Marine classes of business, including clear communication of results to the underwriters
• Effectively manage, mentor and support more junior team members, including providing training and reviewing their work as required
• Uphold the high standards indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts
• Support for the syndicate business planning process for the Marine portfolio
• Construction, review and maintenance of pricing models for the Marine classes of business, in Excel and hyperexponential Renew
• Analysis of pricing model data including parameter validations
• Production and review of pricing management information
• New business initiative analyses and independent reviews
• 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 Lloyd’s Market
• Experience with Marine insurance an advantage
• Proven experience understanding a commercial insurance product intrinsically, to price renewals with little/no claim experience
• 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
• Ability to work independently, managing the Marine pricing portfolio
• 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

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!

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious