Job title: Senior Health Actuary
Job type: Permanent
Emp type: Full-time
Industry: Mutual insurance
Functional Expertise: Actuarial Risk Management Skills
Location: Brussels, Belgium
Job published: 14/03/2023
Job ID: 32986

Job Description

Our client, an insurance company is looking for a Senior Health Actuary to strengthen the Operational Department. He·she will be in charge of  carrying out the actuarial analyses, studies and reports required for reporting to the supervisory authorities and advising management on how to achieve the organisation's objectives.


The Senior Health Actuary will be responsible for:

  • Product design and development:
  • Performing actuarial and financial calculations, simulations and formulating proposals for insurance products and risk reports
  • Contributing to the design and development of insurance products through the appropriate evaluation of proposed coverages
  • Establishing or validating the pricing scheme and the amount of premiums for the launch of a new product or the modification of an existing product, while respecting its profitability and taking into account commercial imperatives
  • Defining the reserving and, where appropriate, the reinsurance
  • Producing the actuarial analysis for the Actuarial Function
  • Determining annually the maximum premium indexation rate (CPI and/or medical index)
  • Recommending the indexation rate to be applied on the basis of an assessment of the product's profitability


  • Technical provisions (BE GAAP and Solvency II):
  • Monitoring and implementing the rules regarding the calculation of technical provisions
  • Determining technical provisions taking into account applicable regulations (BE GAAP and SII) as well as relevant information from the financial markets and generally available data on underwriting risks
  • Ensuring the appropriateness of the underlying models
  • Assessing the sufficiency and quality of the data used in the calculations
  • Comparing the best estimates with empirical observations
  • Documenting the methodology, underlying models and assumptions used
  • Conducting analysis of changes (AOC)


  • Results analysis and reporting:
  • Monitoring the profitability of products in order to assist management in taking appropriate action in the event of significant observed or anticipated deviations
  • Collecting, verifying and updating raw data and statistics to provide management with information for decision making
  • Developing, validating and updating a projection model for the profit and loss account by product (premiums, benefits, technical provisions, expenses, financial revenues)
  • Producing at least once a year a report on the profitability of active products (ad hoc for products in run-off)
  • Suggesting to management measures (increase in premiums or limitation of benefits) in the event of unfavourable deviations, likely to restore a balance in the short or medium term
  • Monitoring applicable regulatory developments (content and timing) and complying with them
  • Establishing national quantitative and Solvency II reporting in accordance with applicable actuarial and regulatory rules
  • Contributing to qualitative reporting (pillar II Solvency II)



  • Master’s degree in Actuarial Science, Physics, Mathematics, or Engineering or equivalent,
  • At least 5 years of experience in the insurance industry,
  • Good knowledge of the non-life insurance market,
  • Knowledge of business or special risks is an added value
  • Knowledge of Office tools (Excel, Word, PowerPoint...) and SAS
  • Critical, analytical and structured mind and curiosity
  • Team player and ability to work independently
  • Willingness to share your own knowledge, your results and give advice on them
  • Ability to give and receive feedback
  • Bilingual or good knowledge of the other national language.
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