Pricing Actuary

Our Pricing team in Madrid supports Munich Re’s business across Southern Europe (Spain, Portugal, Italy, Malta) and Latin America, providing with top‑quality actuarial and risk‑management expertise.

We’re looking for a Life Actuary to join our Pricing team. In this role, you’ll be involved in pricing Life & Health reinsurance business, working closely with financial reinsurance unit. You’ll help shape strategic plans, support innovative reinsurance solutions, and contribute to key projects within the department. This position is based in Madrid.

By joining the regional Pricing team, you’ll become part of an international community of Life & Health actuarial experts across Europe and Latin America. From a business perspective, you will report to the Actuarial Pricing Manager.

• Perform technical pricing of financial reinsurance opportunities assuring all tasks are carried out in accordance with the relevant guidelines and authorities
• Develop, update, and validate best‑estimate assumptions through experience studies and sensitivity analyses
• Build and maintain actuarial models that accurately reflect the technical dimensions of financial reinsurance structures
• Partner closely with financial reinsurance specialists to translate actuarial insight into structuring alternatives and ensure technical soundness and consistency
• Contribute to the monitoring, valuation, and analysis of both existing and new business
• Provide expert inputs on risk assessment
• Collaborate across regions to share knowledge, promote actuarial expertise, and maintain strong international connections

• A degree in statistics, mathematics, or actuarial science, ideally fellow member of an international recognised Actuarial Association
• 5+ years of experience in actuarial functions within life and health insurance industry
• Demonstrated expertise in advanced statistical analysis, data analytics, and actuarial modelling including coding skills (e.g., Python, R, or similar)
• Fluency in Spanish and strong business English. Portuguese or Italian is a plus

We value candidates who demonstrate:

• Independence and the ability to prioritize effectively
• Team spirit and a willingness to share knowledge
• Strong communication skills
• Solid analytical thinking, with a logical and concise approach and a strong attention to detail.
• Ownership, responsibility, and resilience under time pressure

Diversity, Equity & Inclusion:
We embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better. At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. 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.

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.

• Competitive salary:appropriate compensation for your high level of commitment.
• Retirement provision:state of the art in‑house pension solutions.
• Work‑life balance:promoting the compatibility of family and work in addition to overall work‑life balance.
• Health management:focus on your physical and mental health far beyond legal requirements.
• Hybrid working:living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.