Actuarial Co-op, Life & Health; Fall

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry. We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

Our co‑op placements provide you with an excellent opportunity to practically apply your classroom and technical training in the reinsurance industry. While with our team, you’ll be; coached by experienced industry professionals, exposed to Munich Re leadership, challenged as a valuable team member and contributor doing meaningful work, and mentored to develop a solid foundation that will help position you as a future leader in the field.

Munich Re is operating under a hybrid working model, including an average of 3 days in office/week with the remaining days working from home. Students are expected to relocate to the city in which they work for the duration of their co‑op, so they can fully benefit from the full program integration. This provides a great opportunity to network, develop soft skills and become immersed within the greater Munich Re culture;

including engaging with your team while in‑office for face‑to‑face meetings, sharing meaningful moments, and allocating time to connect with your Manager.

You’ll work closely with other Actuaries within their respective departments, as well as with other key individuals across the organization in Canada and/or the U.S.

Note that work placements by department will be assigned closer to the term start date based on a number of factors, not limited to: your interest, skill set, and internal business needs.

Work term responsibilities will vary depending on the department you’re placed; which may include, but not be limited to the following:

• Assist with developing mortality, morbidity, and lapse assumptions for Life and Living Benefits insurance products;
• Conduct and review company and industry experience studies;
• Develop actuarial insights from analyzing large Canadian and US datasets;
• Support Pricing and Valuation on pricing quotes and assumption review/analysis;
• Prepare presentations and other material to communicate results internally or externally.

• Evaluate and communicate profitability for pricing reports, reinsurance proposals;
• Model (AXIS) and make recommendations for client requests and special quotes;
• Assess profitability impact on new business portfolio from changes in assumptions and methodologies;
• Present analysis, results and recommendations to project leads;
• Help ensure treaties and amendments are drafted and signed in a timely manner;
• Provide actuarial support to internal departments (claims, underwriting, admin, etc).

• Perform pricing analyses and modelling for new business and renewals;
• Assist with calculation and reporting of financial results and profitability metrics;
• Assess the impact of changes in assumptions and methodologies for various products;
• Provide actuarial support for market studies, underwriting, and product development initiatives;
• Help ensure treaties and amendments are drafted and signed in a timely manner.

• Assist in quarter‑end financial reporting including conducting reserve movements and analyzing profitability across all Canadian lines of business;
• Prepare results across multiple different bases including Canadian GAAP, Solvency II, USGAAP and local capital requirements (LICAT);
• Support in the review and analysis of actuarial assumptions,…