International Graduate Programme
graduate scheme
Expires8 days

International Graduate Programme

Job description

Munich Re’s UK businesses take on only a small number of exceptional graduates each year within different business entities and divisions including; actuarial, finance, claims and underwriting. To maintain our leading position we are selective about both technical aptitude and wider leadership skills. The successful candidates join our two-year International Graduate Programme. The programme will prepare you for the diverse challenges of the reinsurance business, and lay the foundations for your continued development in one of the most varied and fascinating industries. We would welcome applications from a diverse background and would be open to a conversation around flexible working.

Opening date: 26 October 2018.

Your job
We have three vacancies in the following areas:

UK general branch - Underwriting Graduate Trainee
As part of our London non-life underwriting team, you will have the opportunity to learn about the industry in depth, and gain exposure to the different lines of business.

Key responsibilities include:

  • Working on new enquiries and existing business, rate and administer for the Underwriting Department
  • Providing technical assistance, carry out underwriting risk analysis and making recommendations to the underwriters
  • Supporting the Underwriting team in day to day underwriting and administration
  • Contributing to Munich Re London relationships with brokers and clients and internal Munich Re departments
  • Understanding and take responsibility for dealing with specific elements of the unit

Munich Re Syndicate Ltd - Graduate Trainee - Insurance
We are looking for a Graduate Trainee who will be provided with opportunities across a number of core business functions including underwriting specialist lines, underwriting support, actuarial, claims and finance.

Key responsibilities include:

  • Supporting the Underwriting teams with accurate input into the in-house systems, producing reports to assist with account analysis and/or management reports, and managing data from underwriters
  • Supporting claims handling within defined authority limits and paying valid claims promptly, ensuring compliance with relevant regulatory requirements
  • Working across three key areas to price individual risks and transactions, applying statistical techniques to assess the likely outcome of insurance liabilities and the capital provisions required to meet them, projecting solvency and future capital needs
  • Working across multiple areas including financial reporting, financial management and planning, accounts and credit

Bell and Clements - Graduate Data/Underwriting Analyst
We are seeking a Graduate Data/Underwriting Analyst to provide analytical support for underwriters and clients to enhance performance and aid the placement of new and renewal business.

Key responsibilities include:

  • Supporting the production and generation of statistical reports.
  • Assisting with the implementation of new rating engines / tools
  • Participating in database development projects.
  • Liaising with the underwriting and broking areas to understand requirements for reports

Salary and benefits
To ensure employees are paid fairly, we benchmark all our salaries in accordance with the latest external market data. A gender pay gap audit is also conducted and salaries are reviewed on an annual basis to ensure we pay the industry median. We also offer generous and comprehensive benefits packages including 25 days holiday as standard, private medical cover, an excellent pension scheme, a highly competitive bonus scheme, plus many more health and lifestyle benefits. Furthermore, we offer a competitive and supportive study policy.

What we are looking for

  • An analytical mindset and an ability to analyse complex issues and propose effective solutions
  • Comfortable in building relations quickly, whether in the UK or abroad, and the ability to work as part of a team
  • The ability to multitask and prioritise, demonstrating strong organisational and time management skills
  • Practical work experience, ideally in the insurance/financial industry i.e. internship, part-time position, shadowing, volunteering
  • Sense of responsibility and open mindedness proven by social activities and team work
  • Global mindset i.e. keen to obtain international experience and broader perspective
  • Excellent English language skills and ideally another foreign language
  • A proficient user of Microsoft Office software


An above-average numerical university degree (2:1 or higher).

Accepted degree subjects


How to apply

After the closing date, we spend the next few weeks sifting through the applications.

We hope to let you know before Christmas if you have been invited to one of our graduate assessment centres, which will be held early February 2019.

Assessment centre
Our graduate assessment centres run for a full day. The day will include a high-level introduction to the Munich Re business from a senior representative and further info on our graduate programme before beginning the exercises.

You can expect the following assessments throughout the day:

  • Aptitude tests e.g. actuarial test, verbal reasoning, case study exercise etc
  • Group exercise
  • Individual interview with a five minute pre-prepared presentation

There will also be opportunities to meet previous and current graduates and other representatives within the business.

Please email if you have any queries. However all applications should be received via the website.

Click Apply to start your application now. This job will be available on Prospects until 28/11/2018

Don't forget to mention Prospects to employers when you contact them.

Closing date: 28/11/2018


Additional job details

Number of vacanciesThree

Competitive salary

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