Actuarial Co-op, Life

1 day ago


Toronto, Ontario, Canada Munich Re Full time
**Actuarial Co-op, Life & Health (2025 Summer - Toronto, 4 months)** We are seeking a well-rounded individual to join our team as an Actuarial Co-op, Life & Health, to assist in developing mortality, morbidity, and lapse assumptions for Life and Living Benefits insurance products, and to work closely with other Actuaries within their respective departments. Job Description: Together, we engage with everything we have and are, to help humankind act braver and better. As the world's leading reinsurance company, we introduce a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. 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. Responsibilities: * 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 Department Responsibilities: * 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 * 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 Qualifications: * Currently pursuing an undergraduate degree in Actuarial Science, Math, or Statistics, Risk Management, or equivalent program * Successful completion of one SOA 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 * 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) About Us: Munich Re Canada is committed to providing a work environment that is inclusive and free of employment barriers and discrimination. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions.

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