Munich Re is seeking to recruit Actuarial Science graduates for a Actuarial Graduate Learner position in Johannesburg, SA
The full-time role is restricted to recent Actuarial Science graduates and offers an introduction to non-life insurance, actuarial reporting and risk management.
The position is available on a 12-month fixed-term contract, with potential for a further 12-month extension.
What the role entails
The graduate position is an introduction to actuarial work in the wider reinsurance environment.
Graduates will gain hands-on experience with non-life actuarial reserving and reporting and will also work across a range of business analysis tasks.
Exposure to reserving, IFRS 17 reporting, regulatory capital and business performance analysis will be provided alongside technical training and mentorship.
Graduates can expect to gain an introduction to:
- Non-life insurance reserving
- Financial reporting
- Capital management
- Business performance analysis
- Regulatory reporting
- Actuarial modelling
- Data analysis
- Process automation
- Reporting and management information
This combination of experiences can offer a graduate insight into how actuarial work can support insurance and reinsurance decisions.
What will the graduate trainee learn?
Munich Re has stated that successful candidates will receive technical and soft skills training and will also be mentored by experienced actuaries.
Graduates will be exposed to the work undertaken by reserving and reporting actuaries and will learn how actuarial information supports financial and business reporting.
The traineeship will also include cross-functional workstreams, providing exposure to colleagues and stakeholders outside of the actuarial team.
Exposure to non-life reserving
One of the main areas of responsibility in the graduate role is non-life reserving.
Reserving involves the estimation of the liabilities attaching to insurance policies and the determination of whether provisions are sufficient to meet expected claims.
As a trainee, the graduate may gain exposure to quarterly and annual reserving and the associated analysis.
IFRS 17 reporting experience
The graduate will also be exposed to the task of IFRS 17 reporting for insurance contracts.
Graduates may be involved in checking input assumptions and analysing financial results, providing them with knowledge of the relationship between actuarial calculations and reporting.
Regulatory capital and business analysis
The role includes responsibilities in relation to regulatory capital reporting.
Other responsibilities entail validating and reconciling data, analysing movements and examining trends in the performance of non-life reinsurance business.
In addition to mathematical analysis, the work requires understanding of the implications of results.
Technology and automation
Munich Re states that graduates will be exposed to and may contribute to the development and automation of actuarial processes.
The role involves working with actuarial models and reporting tools, including:
- Excel
- Programming tools
- Data analytics
- Actuarial models
- Reporting systems
Who can apply?
The role is open to recent Actuarial Science graduates at undergraduate level or with Honours.
There is, however, an important deadline to consider.
The vacancy states that applicants who will only complete their undergraduate degree in 2026 will not be considered for this intake, due to the onboarding requirements of the programme.
Academic transcript is required
Applicants are required to provide their academic transcript as part of their application.
Munich Re specifically states that applications without an academic transcript may not be considered.
Other skills Munich Re is looking for
In addition to the specified academic qualification, Munich Re is looking for graduates who have:
- Strong analytical ability
- Intellectual curiosity
- Interest in solving complex business problems
- Knowledge of statistical and mathematical methods
- Strong attention to detail
- Ability to produce high-quality work
- Strong written and verbal communication
- Quick learner
- Ability to multi-task
- Good team player
The requirements suggest that technical actuarial work will be combined with collaboration in the workplace.
What does Munich Re offer?
According to the vacancy information, the traineeship offers the following:
Learning and development
Graduates will have access to learning and development as they build up their experience in the workplace.
Actuarial examination support
In addition, Munich Re offers support with actuarial examinations, which is relevant to graduates undertaking the actuarial qualification.
The nature and extent of the examination support should be confirmed with Munich Re during the recruitment process.
Fixed-term employment
The employment contract is for 12 months, with a possibility of a further 12-month extension.
The extension is described as a possibility rather than a guarantee of a second year.
Where is the position based?
The position is based in:
Johannesburg, South Africa
The work mode is listed as hybrid, meaning that the position combines workplace and remote working, depending on the operational requirements.
Applicants should confirm the current hybrid-work arrangements with Munich Re during the recruitment process.
Key details
Detail Information Employer Munich Re Position Actuarial Graduate Learner Job ID 14363 Location Johannesburg, South Africa Work mode Hybrid Job type Full-time Level Graduate & Entry-Level Employment type Temporary Contract 12 months fixed term Possible extension Further 12 months Area Actuarial & Risk Management Team Non-Life Corporate Actuarial Qualification Recent Actuarial Science undergraduate/Honours graduate Transcript Required Exam support Offered Application Online
How to apply
Applications should be submitted through Munich Re’s official careers platform for Job ID 14363.
Applicants should ensure that their application includes the required transcript and correctly reflects their qualification status.
As Munich Re has specifically stated that applicants who will only complete their undergraduate degree in 2026 will not be considered for this intake, students should confirm this requirement before applying.
A useful opportunity for actuarial graduates
The position offers exposure to a range of areas that are at the centre of actuarial work in the reinsurance industry.
A graduate joining the team can expect to encounter reserving, financial reporting, capital requirements, data analysis and business performance tasks rather than a single technical discipline.
The role is also centred around mentorship and professional development, with actuarial examination support included in the employer’s offering.
For candidates who already meet the qualification requirements, the position offers the opportunity to gain practical experience in the global reinsurance environment while developing skills that are relevant to professional actuarial careers.
Source
This article is based on the Munich Re Actuarial Graduate Learner vacancy, Job ID 14363, including the information provided by the employer about programme requirements, structure, location, contract and development opportunities.
Editorial policy
We publish employment and graduate-opportunity articles using independently written explanations rather than reproducing recruitment advertisements. We distinguish between employer-confirmed information and general career context and do not guarantee selection, employment or contract extension.
Corrections policy
If a material factual error is identified, the information will be checked against the original vacancy provided by the employer and corrected where necessary. Significant corrections will be made transparently.
Disclaimer
Vacancy requirements and recruitment arrangements can change. Applicants should verify the latest information through Munich Re’s official careers platform before applying. Meeting the stated requirements does not guarantee selection, and the possible contract extension should not be interpreted as guaranteed employment beyond the initial 12-month term.
