The actuarial and underwriting team is responsible for the assessment of underwriting risk for the purpose of managing reinsurance across Aegon. This involves creating models for the risk underlying various insurance products.
Your actuarial and underwriting expertise is shared across the Aegon Group to facilitate the development of innovative insurance products and hedges. Balancing local and global needs will be a key challenge - ensuring that local needs are met while meeting the overall Group strategy. Where appropriate, we take a risk share in these products through reinsurance.
Innovative hedge solutions
You will be part of a team that has been responsible for a number of innovative solutions. For example, in 2015, they came up with a construction that hedges longevity risk out-of-the-money for underlying reserves of EUR 6 billion. It is the fifth such longevity transaction they have done over the past four years and demonstrates how far they and the market have come.
The team also successfully implemented an investment in Insurance Linked Securities – a first within Aegon. This allows Aegon to diversify its investment portfolio and enhance the risk/reward trade-off of its investments.
As a fully licensed and rated global reinsurer, Aegon offers a broad variety of financial, operational, actuarial and risk roles. Actuarial is responsible for valuing our future obligations and for pricing the transactions that come in.
The pricing actuary area focuses on methodologies and assumptions to monitor profitability. You will also maintain corporate processes to comply with country-specific regulations. You will be closely involved with the implementation of new products and calculate market-consistent pricing.
The Reporting Actuary role is responsible for interpreting and reporting financial risk within Aegon. It will be your responsibility to accurately forecast and evaluate the probability of events and quantify their outcomes using mathematics and statistics.
As an Underwriter you will assess mortality and morbidity risk, according to our guidelines, to assure our policyholders are treated fairly and Aegon's financial objectives are met. Working together closely with actuaries, risk, and claims managers, you will strike the right balance to attract and retain customers through competitive insurance premiums.
Types of positions
Reporting Actuary, Actuary Manager, Product Development, Actuary, Actuarial Analyst, Model Validation Manager, Underwriter, Underwriter Pricing Consultant, Underwriting Assistant
With colleagues from more than 20 countries, Group Risk provides opportunities for involvement in global projects.Sherry Liu, Underwriting Risk Management