Cat Portfolio Analyst; m​/f​/d in Munich

About us

About us

Reinsurance is positioned at the core of the Allianz Group. At Allianz Reinsurance, we provide customized reinsurance solutions by combining technical expertise with deep local market knowledge. Building on our core strengths, we continuously expand our offerings, including advancements in portfolio analytics, catastrophe risk visualization and assessment, and run-off management. These activities play a vital role in stabilizing and diversifying the Allianz Group, supporting our purpose to secure our customers’ future—today and tomorrow.

With more than 40 years of experience and offices across Europe, Asia Pacific, and North America, we collaborate closely with our partners to understand risk and deliver lasting value. As a global organization, we unite international experts in underwriting and risk management, combining global reach with local insight and multi-segment expertise.

We are committed to fostering an inclusive culture rooted in collaboration, trust, and integrity—an environment where everyone can thrive. Our flexible work arrangements, ongoing learning opportunities, and supportive leadership empower our employees to grow and help shape the future of reinsurance.

As a CAT Portfolio Analyst, you will play a fundamental role in analyzing and managing our portfolio of catastrophic risks. In your role, you will support efforts to assess risk exposure, develop strategies, and support decision-making processes to optimize our Nat Cat reporting processes and ensure resilient limit monitoring, while adhering to Solvency II regulations and managing the Nat Cat premium risk.

• Maintain and develop the internal model for Nat Cat for Allianz Group, ensuring its alignment with industry standards and regulatory requirements within Solvency II
• Conduct, develop and refine risk capital calculations for Nat Cat portfolio and impact analysis, effectively communicate to senior management and other stakeholders within Allianz Group and Allianz Re
• Perform Nat Cat Limit System monitoring and reporting, ensuring timely communication to senior management.
• Perform and support in developing data driven strategies for portfolio steering.
• Critically assess the data quality, strengths and limitations of capital modelling and contribute to its continuous improvement
• Support Solvency II related topics around Cat Capital Assessment (documentation of results, tools and processes)
• Collaborate with underwriters, actuaries, and cross-functional teams to craft and implement effective capital modeling and reporting
• Support Allianz Group and Allianz Re with analytical tasks around the measurement of Cat exposures, Cat capital reporting, Cat exposure data management, sensitivity testing and analytical analyses around externally placed reinsurance for the group

• University degree in Mathematics, Physics or natural sciences
• Up to 5 years of proven working experience in relevant field. Experience in project work as subject matter expert.
• Experience in Solvency II internal modelling, risk analysis and portfolio management.
• Good understanding of (re) insurance business and treaty structures.
• Good knowledge of risk assessment tools
• Good understanding of design of vendor models, DFA tools and aggregation platforms
• Strong analytical, mathematical and statistical skill set to solve complex analytical problems
• Strong data analysis and programming skills in high level and scripting languages
• Ability to perform accurate capital risk modelling, portfolio management and sensitivity analysis under time pressure
• Knowledge of Cat Modeling vendor tools like Moody's RMS and Verisk is a plus
• Knowledge in machine learning, deep learning or AI methods advantageous
• Contribute to cross-risk analytics initiatives, including the enhancement of Cyber risk scenarios and collaboration with the Cyber Center of Competence

• Experience in the (re-)insurance industry
• Professional experience in risk analysis, portfolio management and Solvency II regulations
• Drive to keep up-to-date with technology and market developments
• Strong communication and presentation skills to explain complex topics
• Competency of thinking in business terms and pro-active addressing of customer needs / challenges
• Independent, structured and and diligent working style
• Strong interpersonal skills and cultural awareness