Actuarial Underwriting Graduate Apprentice London 2024

Your ambitions. Your dreams. Your tomorrow.

Whether it’s aircraft, international business, offshore wind parks, or Hollywood film productions, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.

We are looking for 2 Actuarial Underwriting Apprentices to join our London based team.

The opportunity

Our Apprenticeship Programme is the perfect opportunity to start your Actuarial or Underwriting career with a global company in the dynamic and thriving insurance industry.

Starting in September 2024, our Actuarial Underwriting Apprentice programme will give you the opportunity to develop a range of skills while working within our Alternative Risk Transfer team. In addition to on-the-job development, over the course of 42 months, you’ll spend 20% of your time participating on a Level 7 Actuarial Apprenticeship that will guide you through your Actuarial qualifications. This is an ideal opportunity for anyone looking to embark on a career as an Underwriter or Actuary and will provide you with the knowledge, skills and behaviors for success.

Your team

The Alternative Risk Transfer (ART) team are responsible for the design, structuring, pricing, negotiating and management of bespoke multi line and multi-year transactions for Allianz Commercial Clients within all sectors and with a global footprint. This international team, located across London, Munich, Zurich, Bermuda, Singapore and New York has grown to more than 100 people globally and will provide lots of opportunities for diverse experience and exposure.

ART sits in a very unique area within the insurance market – nothing is ‘off the shelf’, everything is bespoke. You will have freedom to think outside of the box and be creative in solving our clients’ most complex issues. You will gain access to all lines of business and unlike most actuarial roles, this front office position will allow you to eventually interact with brokers and clients on a daily basis.

Some of your specific responsibilities during your Apprenticeship could include

• Collaborate with multi-functional deal teams spanning catastrophe modellers, lawyers, actuaries, underwriters and accountants
• Assist in (and eventually independently run with) the triaging, pricing, modelling and structuring of insurance transactions
• Attend client and broker meetings
• Data cleaning and preparation
• Support the underwriting process (including ART’s transaction management tool) and the broader underwriting team’s activities
• Provide an excellent service to internal and external stakeholders

Eligibility

• To meet the entry requirements of the Level 7 apprenticeship, you must have a degree in a numerate subject such as Mathematics, Statistics, Economics, Engineering, Chemistry, or Physics or a degree in a non-numerate subject with a minimum grade B in A-Level mathematics or equivalent, or successfully completed an Actuarial Technician Level 4 Apprenticeship.
• You must also be aged 18 or over, living in England, not in full-time education and have the right to work in the UK.

What you’ll bring to the role

• Interest in an Underwriting career
• Strong mathematical and analytical skills with great attention to detail.
• Exceptionally strong Excel skills
• Strong computer fundamentals such as VBA and SQL or Python experience preferred.
• Adaptability and Flexibility- Able to adapt and work effectively in different situations and remain calm under pressure
• Communication- Excellent communication and interpersonal skills
• Teamwork- Have a pro-active and positive attitude to team work, able to assist others and also take on your own responsibilities
• Learning Mindset/ Ambition- A curious and creative mindset, willingness to learn and enthusiasm to own and drive your personal development.
• Analytical Thinking- Ability to effectively absorb information from various sources, then analyze, study or examine data in detail, draw appropriate conclusions and present solutions to others.
• The ability to work in a fast-paced international / virtual environment in which deliverables are often time critical and organizational skills are essential.
• Fluent English language skills

Further information

• The role is fixed term for 42 months, but we expect well-performing candidates to be converted into a permanent role before the end of this term.
• You will be supported on a generous study package approximately 1 day a week to study towards your actuarial exams.
• This apprenticeship will commence in September 2024.
• We anticipate applications being accepted until 14th April 2024 but reserve the right to close earlier if application numbers are high. We strongly encourage you to submit your application as soon as possible.

What’s in it for you?

Let’s care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the Allianz Group brand serving the world’s largest consumer brands and major industry players through to family-owned enterprises forming the backbone of nations’ economies. We bring together the corporate multinational business of Allianz Global Corporate & Specialty and the commercial business of national Allianz Property & Casualty entities and provide both traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling.

As a key strategic player in the Allianz Group network, Allianz Commercial is present in over 200 countries and in 2022 generated more than €19 billion gross premium.