"Munich Re could not function effectively without the strong quantitative skills that a team of talented qualified actuaries brings. This is particularly true in my area, longevity, where the analyses of current life expectancies and potential future improvements involves actuaries using a wide range of complex mathematical techniques.

The approaches being used in this and other parts of the financial services industry are constantly developing. Techniques from disciplines ranging from epidemiology to extreme value theory are being adopted - and adapted - at an ever-increasing rate. Strong mathematical skills are essential for this work, and actuaries are among the best qualified for the job.

"Just being able to carry out this sort of analysis is not enough. An ability to communicate the methods, assumptions and results effectively to a non-technical audience can also be key. Other qualitative skills are also important.

The commercial issues present in our industry require an appreciation of subjective factors, not just the outputs of calculations. Fortunately, communications and business awareness are skills that actuarial students learn as part of their training. The profession also offers a range of opportunities for qualified actuaries to keep their skills up-to-date with a varied calendar of continuing professional development. All of this means that the actuaries employed by Munich Re possess the full range of skills necessary to stay ahead in the world of reinsurance."

“The Profession also offers a range of opportunities for qualified actuaries to keep their skills up-to-date.”

Paul Sweeting

UK Life Branch
Longevity Specialist
Munich Reinsurance