Actuarial Co-op, Life & Health; Winter
Job in
Toronto, Ontario, M5A, Canada
Listing for:
Munich Re
Contract
position
Listed on 2025-12-30
Job specializations:
-
Finance & Banking
Actuary, Financial Analyst, Financial Consultant, Risk Manager/Analyst
-
Insurance
Actuary, Financial Analyst, Risk Manager/Analyst
Job Description & How to Apply Below
Position: Actuarial Co-op, Life & Health (2026 Winter 4 months)
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:
Biometric Research:
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.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 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).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.Corporate Actuarial:
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, such as mortality, lapse and morbidity;Contribute to special projects such as IFRS 17 and revamping processes;Gain exposure to software, such as AXIS, SQL and Power BI.North American Model Development (NA MD):
Quantify and explain impacts of model changes under multiple reserving bases, as applicable (SII, USGAAP, US Stat, CGAAP, IFRS
17);
Build a model for new business treaties from beginning to end; which includes reading in data, assigning assumptions and explaining the results;
Create new tools to help find key insights into the inforce business;
Support on model related requests from various teams across North America.Global Actuarial Consulting Group (GACG):
Assist in the development of actuarial tools used by Munich Re offices around the world (e.g. IFRS
17 Transition Calculators);Build actuarial models for unique, region-specific reinsurance structures for internal global clients (includes both valuation and pricing models for new quotes);Support experience studies and development of actuarial assumptions for new quotes;Provide stewardship services globally related to Munich Re’s actuarial modelling and experience analysis software.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, Math, or Statistics, Risk Management, or equivalent program - in healthy academic standing;Successful completion of one SOA exam (with two or more preferred);Excellent communication skills - spoken & written, formal/informal presentation;Demonst…
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