Actuarial Co-op, Life & Health (2027 Summer - Montreal, 4 months)

POSITION: Actuarial Co-op, Life & Health (2027 Summer - Montreal, 4 months)

LOCATION: Montreal, QC

DURATION: 4 Months

ANTICIPATED START DATE: May 2027

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

If you're passionate about solving complex problems, uncovering insights in data, and building a future in the actuarial profession, Munich Re offers the opportunity to make an impact from day one. As an Actuarial Co-op, you'll work alongside experienced professionals, gain exposure to the dynamic world of reinsurance and contribute to solutions that help clients navigate an increasingly complex risk landscape.

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 Actuarial co-op placement is an immersive experience designed to help you bridge the gap between the classroom and the real world of reinsurance. During your term here, 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.

Position Overview

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.

Job Responsibilities

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

Individual Reinsurance Solutions:

• 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 on client strategies to project leads;
• Prepare materials for client presentations and communications regarding reinsurance solutions and industry insights through market research.
• Provide actuarial support to internal departments (claims, underwriting, admin, etc).

Group Reinsurance Solutions:

• 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.

Qualifications

We’re looking for well-rounded individuals who are technically astute, have strong communication skills, and demonstrate the ability to build positive relationships with internal clients. We’re seeking energetic and collaborative professionals who are excited to join our winning team and show promise of becoming a future leader in the reinsurance space.

Specifically, we’re looking for the following qualifications:

• Currently pursuing an undergraduate degree in Actuarial Science, Mathematics, Statistics, Finance, Risk Management, or equivalent program - in strong academic standing;
• Successful completion of at least one actuarial exam (with two or more preferred);
• Excellent communication skills - spoken & written, formal/informal presentation;
• Demonstrated ability to create and manage positive professional relationships with good client service acumen;
• Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance in both individual and team settings;
• Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment;
• Demonstrates leadership qualities - clear-thinking, curiosity, integrity, and drive;
• Proficient in Microsoft Excel, Access, and Word;
• Exposure to AXIS is considered an asset;
• Preference for candidates who have relevant work experience, having already completed at least one placement (or approx. 4+ months co-op/intern experience).

Please upload a copy of your unofficial transcript with your application package when applying for this position.

Compensation for this position ranges from $950 to $1,450 per week. This range represents the typical compensation for candidates hired into this role.

This role is located in our Montreal office on 1000 De La Gauchetière Street, and we operate in a hybrid work model.

Munich Re is currently operating under a hybrid working model, including a minimum of 3 days in office per week. 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. 

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.

Munich Re is committed to providing a work environment that is inclusive and free of employment barriers and discrimination. Accommodations will be made for qualified applicants with a disability throughout the recruitment process. If you receive a request for an interview and you have a disability which will require an accommodation to support your participation, please contact AODARequestHR@munichre.ca as soon as practical so that suitable accommodations can be arranged.