Munich Re Actuarial Graduate Learner, Johannesburg

Written by Thabo MokoenaSenior Education Editor

Reviewed & verified by Naledi KhumaloSenior Admissions and Bursaries EditorVerified

Munich Re, the German reinsurance group, is recruiting an Actuarial Graduate Learner for its Johannesburg office at 110 Oxford Road, Rosebank. The post was listed on the Munich Re careers site on 25 September 2026 (job ID 14363) and was open on 27 September 2026. The advert gives no closing date, so the post can come down at any time once enough applications are in.

This is a salaried, fixed-term job for someone who has already finished an Actuarial Science degree. It is not a bursary and does not pay for study.

Non-life reserving for the Sub-Saharan portfolio

The graduate joins Munich Re’s Non-Life Corporate Actuarial team, which monitors and projects reserves, prepares IFRS 17 and regulatory reports, and analyses business performance across the group’s Sub-Saharan African reinsurance portfolio. Munich Re presents the post as a foundation for a career as a reserving and reporting actuary rather than in pricing or life insurance.

According to the advert, the work may include:

• supporting the quarterly and annual non-life reserving process
• helping with IFRS 17 reporting, checking input assumptions and analysing financial results
• supporting regulatory capital reporting
• data validation, reconciliations and movement analyses
• building and automating actuarial processes in Excel, programming languages and data analytics tools
• preparing actuarial reports, presentations and management information, working with actuaries in South Africa and elsewhere in the group

Alongside that work the graduate attends soft-skills and technical training, is mentored by experienced actuaries, and takes part in cross-functional workstreams.

A 12-month contract with exam support

Munich Re offers a 12-month fixed-term contract, with a possible extension of another 12 months, plus learning and development opportunities and support with actuarial exams. The advert does not state a salary, a start date, or whether the contract can lead to a permanent post. The regional careers page lists benefits for Middle East and Africa staff such as life and health insurance, hybrid and flexible working, an employee assistance programme and an annual and spot bonus scheme, but it does not say which of these apply to fixed-term graduates.

Graduates only, not 2026 finalists

The requirement that rules out most students is timing. Munich Re wants a recent Actuarial Science graduate at undergraduate or Honours level, and says that because of onboarding timelines, applicants who will only complete their undergraduate degree in 2026 will not be considered for this intake. A third-year student finishing in November 2026 therefore cannot apply for this post. An Honours student who already holds the undergraduate degree is not excluded by that wording.

The other requirements are a working knowledge of statistical and mathematical methods, strong attention to detail, good written and verbal communication, and the ability to learn quickly and manage several priorities in a team. Munich Re may give preference to candidates in line with its Employment Equity Plan, and encourages people to apply even if their experience does not match every point.

Applying on the SAP SuccessFactors portal

The Apply button on the Actuarial Graduate Learner advert leads to Munich Re’s SuccessFactors application form, where the application itself is submitted. The academic transcript is essential: Munich Re warns that applications without one may not be considered. Other openings at the Johannesburg office are listed on the Munich Re Middle East and Africa careers page.

Students who are still studying and cannot apply yet will find funding options in the actuarial science bursaries guide, including the Old Mutual Actuarial Bursary. The data science and statistics bursaries list covers related quantitative degrees.

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