Pricing Actuary

5 days ago

Singapore Munich Reinsurance Full time $90,000 - $120,000 per year

Pricing Actuary

Company

Munich Re

Location

Singapore
, Singapore

Munich RE, a leading global reinsurer, is recruiting for a Life Pricing Actuary for its Southeast Asia (SEA) and High Net Worth (HNW) business. A dominant player in the SEA and HNW market, Munich RE reinsures a comprehensive range of products covering death, disability, critical illness, health, and long-term care risks.

This role involves contributing to the development of market leading reinsurance solutions, development of pricing basis, maintaining pricing excellence, and providing cross-functional support on a project basis.

Based in Singapore, this position reports to the Senior Pricing Actuary, Southeast Asia and HNW.

Your Role

Reinsurance Pricing

  • Support quotation work by contributing to pricing recommendations. This will include preparing pricing inputs & assumptions, performing profit sensitivity testing and scenario analysis, documenting outputs and quote discussions.
  • Ensure pricing work aligns with Munich RE's global and regional pricing frameworks, profitability targets, and risk appetite, supporting regional pricing referrals where needed.
  • Collaborate with Underwriting and Product Development Teams to evaluate client proposals and co-develop product solutions.
  • Undertake experience studies on datasets across SEA markets toward setting of pricing assumptions.
  • Perform reviews of pricing quotations done by other team members.
  • Assist in development and maintenance of pricing models and toolkits for life reinsurance products.

Cross-functional Collaboration and Support

  • Collaborate with Inforce Management Team to undertake data analytics projects, derive actionable insights to support product development and strengthen Munich Re's position as a thought leader.
  • Assist the Valuation Team in validating actuarial reporting figures to ensure consistency with pricing assumptions and experience trends
  • Support the Underwriting Team in the assessment of facultative cases, offering actuarial perspectives where needed.
  • Work closely with the Product Development Team and Medical Experts to develop and refine pricing bases that reflect the latest trends, medical outlook and evolving market dynamics.

Your Profile

  • Fellow or Associate (with significant exam progress) of a recognized actuarial body.
  • Minimum 4 years of actuarial experience with some experience in (re)insurance pricing.
  • A solid understanding of protection focussed life and health insurance products in the Southeast Asian market is essential; experience in pricing multi-pay CI products would be an advantage.
  • Familiarity with AXIS will be a huge advantage. Familiarity with data analytics tools (e.g., SQL, Python or R) and methods is a plus.
  • Proven ability to work independently and collaboratively within a team; must be results-oriented and proactive.
  • Strong communication, presentation and stakeholder engagement skills, including the ability to convery technical concepts to non-technical audiences.

Our Benefits

  • Flexible and hybrid working arrangement
  • Generous annual leave allowance
  • Comprehensive dental, life and health insurance coverage

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the center of this interaction is each of us

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