What do actuaries do?
Recognising damage before it occurs.
As an actuary, you will specialise in identifying and assessing risks to calculate appropriate premiums or reserves for our policies. This involves using mathematical, statistical and actuarial models and methods to make the best possible estimates of future expenses and losses. This helps us to minimise risk.
Discover our actuarial profession and the opportunities it offers.
Are you an actuary? Then there are many opportunities for you to work with us, for example in our Group Risk Management or Reinsurance Accounting & Valuation divisions. Property and Casualty (P&C) reinsurance covers risks arising from property damage and bodily injury. This includes, for example, accidents, fire and natural catastrophes. You will value reinsurance contracts for internal and external financial reporting and conduct actuarial reserve studies for P&C business. This includes assessing various stress scenarios and the cost of capital for the risks assumed. For example, you may use models and experience based on historical data and observations to derive estimates of future cash flows for the risks covered by reinsurance contracts. You will also contribute to the further development of our actuarial models and prepare statistical analyses and validations to identify empirical values and new trends. In Group Risk Management, you will analyse the business and look at the risks involved to tell us how much risk we can take.
We offer a special training programme for mathematicians and scientists whose work requires actuarial knowledge. We will support you with training as an actuary (DAV) or other internationally recognised training courses/actuarial associations (e.g. UK, US, etc.) or the additional CADS qualification. Of course, we will cover the costs and give you time off for exams and similar appointments. If you wish to develop your skills as a risk management actuary, we will also give you the opportunity to gain the additional CERA or CADS qualification.
"I joined Hannover Re in 2021 because I was curious. Today, I particularly appreciate the variety within the job, the regular exposure to new topics and challenges, and the opportunity to work independently in an international field of business."
The competencies we use here
In your role as an actuary in our company is so varied, you will need a wide range of qualifications. In general, a degree in mathematics is an advantage. However, we also welcome applicants with a degree in a natural science (e.g. meteorology, physics or geosciences), a degree in computer science, economics - preferably with a quantitative focus - (insurance) business training or a comparable qualification.
We value these skills:
- Professional further training, e.g. as an actuary (DAV, CERA, CADS) or CFA
- A very good understanding of numbers, a high level of attention to detail and technical affinity
- A high level of service orientation and intercultural competency
- If you're able to understand and process complex issues and summarise them in a simple and understandable way, you've come to the right place.
By the way, you don't need to have all these skills. You can find out more about our specific requirements in our current vacancies.
