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Lead Pricing Actuary
lead · Insurance
Since its formation as a stand-alone division of Munich Re in 2023, Munich Re Specialty (MRS) has the ambition to become a profitable top-10 global primary Specialty insurer. Complementing an already strong presence in the UK and the US, Munich Re Specialty - Global Markets (MRS-GM) has been tasked with expanding our primary Specialty business in continental Europe and APAC. We have begun the European expansion journey, and are now ready to launch our expansion in APAC, starting with Australia.
Providing pricing and performance management support for all business under MRS-GM Australia and Asia Pacific (APAC), a stand-alone division of Munich Re.
You will be responsible for ensuring pricing strategies and practices align with company objectives and regulatory requirements.
Your Role
Regional Pricing Oversight
- Oversee the development and enhancement of technical and commercial pricing capabilities of the Global Markets – APAC entity, ensuring pricing is aligned to strategic business objectives and profitable growth targets.
- Act as the actuarial lead for APAC pricing, providing expert judgement and recommendations on portfolio performance, pricing strategy, risk selection and business planning.
- Take ownership of the APAC pricing framework, ensuring robust governance, consistency, and adherence to internal standards, regulatory requirements and actuarial best practice.
- Drive the adoption of advanced actuarial, modelling and statistical techniques used across the team, engaging and collaborating across the wider Munich Re Specialty pricing and underwriting teams globally to deliver innovation and improved business outcomes.
- Lead complex actuarial investigations and strategic portfolio reviews, including inflation, emerging risks, accumulation trends, portfolio profitability and pricing adequacy assessments.
- Provide independent challenge to underwriting strategies and pricing decisions, ensuring a balanced approach to growth, profitability and risk management. Ensure all advice offered is in line with actuarial standards and other appropriate guidelines, including Munich Re’s own guidelines and standards.
- Ensure compliance with regulatory requirements. Help drive forward good Conduct for the business to deliver the best outcomes for the customers.
Line Management Responsibilities (when applicable)
- Act as a senior technical leader within the wider pricing function, helping shape actuarial best practice and pricing strategy across APAC.
- Provide coaching, mentoring and technical guidance to actuarial analysts and pricing colleagues, fostering the development of actuarial capability within the team. Lead peer reviews and provide technical oversight for significant pricing analyses and recommendations.
- Support the growth and development of the APAC pricing team, with the expectation of assuming formal people management responsibilities as the team expands.
- Actively contribute to talent development, knowledge sharing and succession planning across the pricing community.
Stakeholder Management
- Serve as a trusted adviser to underwriting and business leadership teams, influencing strategic decisions through actuarial insight and commercial judgement.
- Partner with underwriting teams on product development, portfolio strategy and business initiatives, ensuring pricing implications are fully assessed and reflected.
- Build strong relationships with stakeholders across APAC, London and Europe to ensure consistency of pricing practices, governance and strategic objectives.
- Present complex actuarial findings, portfolio insights and pricing recommendations to senior management committees and other key stakeholders.
- Influence business decisions through clear communication of risk, uncertainty, opportunities and financial impacts.
Strategic Projects & Business Development
- Lead actuarial assessments supporting the onboarding of new territories, products, MGAs and strategic growth opportunities within APAC.
- Sponsor and contribute to initiatives that improve pricing methodologies, modelling capabilities, portfolio management and operational efficiency.
- Support business planning activities through actuarial analysis, performance forecasting and strategic portfolio insights.
- Identify opportunities to enhance pricing processes, automation and analytical capabilities to improve decision-making and business performance.
Market Intelligence and Benchmarking
- Own the monitoring and assessment of portfolio performance, pricing adequacy and profitability across APAC portfolios.
- Lead profitability reviews using actuarial, pricing and reserving techniques to identify trends, opportunities and areas requiring corrective action.
- Oversee the development and continual enhancement of Pricing Management Information for APAC, ensuring management has timely and actionable insights.
- Monitor market conditions, competitor activity, loss cost trends, inflationary pressures and emerging risks, translating findings into pricing actions.
- Maintain awareness of emerging technologies, analytical techniques and market developments relevant to Munich Re's APAC operations and evaluate their potential impact on pricing strategy and performance.
You are required to comply with the PRA and FCA conduct rules:
- Acting with honesty and integrity at all times.
- Acting at all times with due care, skill and diligence.
- Being open and honest with the regulators at all times.
- Always paying due regard to the interests of customers and always treat them honestly and fairly
- Observing proper standards of market conduct at all times.
- Act to deliver good outcomes for retail customers. This includes abiding by the Consumer Duty cross-cutting rules below:
- Act in good faith towards retail customers.
- Avoid causing foreseeable harm to retail customers.
- Enable and support retail customers to pursue their financial objectives
Your Profile
- Qualified Actuary (FIA, FCAS, FIAA, FSA or equivalent actuarial qualification) is required.
- Extensive actuarial pricing experience, typically gained over 10+ years, within commercial and/or specialty insurance markets.
- Demonstrated ability to influence senior stakeholders and drive strategic business decisions through actuarial insight.
- Proven track record of leading complex actuarial analyses, pricing initiatives and portfolio performance reviews.
- Experience in mentoring, developing and providing technical leadership to actuarial professionals.
- Strong commercial acumen with the ability to balance technical excellence and business objectives.
- Good knowledge of insurance products within the APAC market, including insurance processes and regulatory requirements.
- Foundational knowledge and understanding of global macroeconomics and financial markets
- Excellent written and verbal communication skills, including report writing, presentations and ability to present complex analyses to senior management.
- Ability to build and sustain strong working relationships with a variety of internal and external stakeholders.
- Ability to work in a small, dynamic team.
- Excellent communication skills.
- Strong proficiency in Excel, actuarial pricing software, databases and tools is indispensable
- Expertise in price modelling tools
We see DEI as a business imperative, helping us to attract, grow and inspire a diverse, inclusive, and equitable workforce that better enable us to serve our customers, investors, and communities. Globally, we strive to build balanced teams across all aspects of difference. If you are interested in the role and believe you could contribute, we encourage you to apply even if your experience doesn't perfectly match every qualification.