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Prepare for Munich Re (Münchener Rück)
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Munich Re (Münchener Rückversicherungs-Gesellschaft) is the world's largest reinsurer by premium income. Operating through Munich Re (reinsurance) and ERGO (primary insurance), they hire across actuarial science, underwriting, risk modelling, data science, IT, and client management. Their recruitment is highly selective, using Korn Ferry cognitive ability tests and a rigorous assessment centre. Munich Re is known for its actuarial excellence, cat modelling expertise, and global reach across 50+ countries.
CV, cover letter, and academic transcripts via Munich Re's career portal. Actuarial roles require evidence of exam progress. Quantitative roles require strong maths/statistics background.
Korn Ferry Verify: numerical reasoning, verbal reasoning, and logical reasoning. High difficulty, normed against quantitative professionals. Duration: 60-75 minutes.
For actuarial and risk roles: quantitative test covering probability, statistics, Cat Bond pricing, and reinsurance principles (Rückversicherungsprinzipien). Duration: 60-90 minutes.
Competency-based interview with HR and department head. Questions focus on analytical thinking, risk mindset, and Munich Re's values.
Full-day event for graduate and senior roles: cat risk case study, group exercise, actuarial problem-solving, and panel interview.
Used by: Korn Ferry
Complex reinsurance financial data: combined ratios, loss development triangles, premium income by line of business, nat cat loss estimates. 18 questions in 25 minutes.
Practice NowUsed by: Korn Ferry
Reading comprehension of reinsurance and risk management texts. True/False/Cannot Say format. Topics include IFRS 17, Solvency II, and climate risk modelling.
Practice NowUsed by: Korn Ferry
Abstract pattern recognition and matrix completion. Very high difficulty level.
Practice NowUsed by: Munich Re Internal
Probability distributions (Poisson, Pareto, lognormal), excess of loss treaty mechanics, Cat Bond pricing, and reinsurance principles (Rückversicherungsprinzipien). Key topics: Actuarial Math, Cat Bonds, reinsurance principles.
Practice NowActuarial Mathematics: A Cat Bond has a notional of €500m. The trigger is an earthquake of magnitude ≥7.0 in the DACH region. The annual probability of occurrence is 2%. What is the expected annual loss (EAL) for the investor?
Munich Re's Korn Ferry tests are normed against quantitative professionals, significantly harder than standard graduate tests. Practice extensively with timed conditions.
Actuarial exam progress (DAV, IFOA, SOA) is highly valued. Passing CT3/CM1 before applying demonstrates quantitative ability.
Cat Bonds and ILS are core topics. Understand trigger mechanisms (indemnity, parametric, industry loss), tranche structures, and pricing.
Reinsurance principles (Rückversicherungsprinzipien): master proportional (quota share, surplus) and non-proportional (XL, stop-loss) treaty structures.
Munich Re's assessment centre case study typically involves a natural catastrophe scenario. Practice structured risk quantification using expected loss frameworks.
Munich Re values 'Risikokultur' (risk culture). Show genuine intellectual curiosity about risk science and a systematic approach to uncertainty.
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