Together, we engage with everything we have and are, to help humankind act braver and better.
About UK Life Branch:
With the office in Munich, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.
At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.
In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.
About the role:
The role holder is responsible for taking a leading role in the delivery of UKLB’s Basis Development for both Protection and Longevity lines of business. The team is responsible for the regular review of existing bases and Terms of Trade, as well as supporting proposition development through the setting of appropriate assumptions, including providing the biometric element of proposition development.
Key Responsibilities:
- Leading the delivery of individual Basis Development initiatives, including reviews of existing Terms of Trade for both Protection and Longevity as well as the development of new Pricing bases and the biometric elements of new propositions.
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Tasks include the initial scoping and project planning of individual initiatives, followed by managing the project to completion.
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Directing and checking the work of more junior team members. Aiding in their development/training with the aim to transfer knowledge and skills.
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Making best use of internal and external data sources to form proposals. This includes analysing and spotting trends, using judgement where there is uncertainty and quantifying upside and downside risks.
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Liaise with stakeholders such as local Risk Management and Corporate Underwriting to get appropriate sign-off on proposals.
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Supporting biometric assumptions setting and ad hoc queries for the Longevity and Protection Pricing teams.
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Keep up to date with the latest developments in the market by attending seminars, closely following CMI releases, news and scientific articles and then ensuring these findings are communicated within UKLB.
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Identify improvements to the processes and tools used in Basis Development work.
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Work with the Head of Basis Development to promote a working culture that focuses on delivering high quality results in an efficient manner, aids in the development of team members and fosters a team spirit of open collaboration and mutual support.
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Input into discussions within the Basis Development team to help set the direction of the team, including non-technical topics (e.g. people and culture).
Competencies:
Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.
Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.
Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.
Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.
Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.
Key Skills & Experience:
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Significant experience in setting biometric assumptions, including dealing with experience analyses and setting base and trend mortality/morbidity assumptions.
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Deep understanding of current Protection products as well as their pricing methodologies.
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Deep understanding of Longevity reinsurance pricing, including deferreds and marital assumptions.
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Pragmatic mindset and desire to find innovative solutions.
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Strong analytical skills and ability to make judgement calls where there is uncertainty.
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Experience with managing or providing leadership to other colleagues either through line management or via work projects. Be able to provide feedback and support their development.
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Strong written/spoken communication with the ability to communicate complex technical concepts to different audiences.
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Confidence and diplomacy to challenge peers and manage upwards.
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Ability to build an understanding of internal and external client strategy and needs.
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Strong organisational and planning skills.
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Effective at dealing with stakeholders from a variety of technical backgrounds and levels of seniority, including senior management.
Qualifications and Educational Requirements:
People Leader:
You are aware of your role (as a leader) in being able to influence your team structure and culture to promote principles of diversity and inclusion.
You strive to continuously educate yourself on best practice for inclusive leadership.
You demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
You support a culture in which high ethical conduct is recognised, valued and embodied by all
You treat everyone fairly and with respect.
Thought Leader:
You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.
Regulatory & Conduct Requirements:
In addition to the responsibilities set out above, the individual will also become responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.
Benefits
You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%
We are one of the few employers to offer fully paid 6months family leave for times when you need it the most.
About us
You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning
You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders
We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn
You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions
We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged
At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.
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!
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.
Application closing date : 31st July 2026
