Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
The Chief Actuary will lead the Actuarial function for Prudential Bermuda, ensuring robust financial risk management and compliance with regulatory requirements. The role will focus on developing and maintaining actuarial frameworks for reserving, capital modelling, pricing, and risk assessment across both reinsurance and high-net-worth (HNW) insurance businesses. The Chief Actuary will be responsible for accurate and timely reporting of numbers across embedded value, capital, and IFRS17, and ensuring solvency compliance under Bermuda Monetary Authority (BMA) regulations. The Chief Actuary will also provide strategic insights to optimize capital efficiency, reinsurance and product development. As a key member of the senior management team, the role holder will collaborate closely with Finance, Risk, Investments and Underwriting teams to deliver sustainable growth and profitability.
Organisation Context:
Prudential Bermuda operates under two Class E licenses:
Reinsurance license – focused on central risk management, inward reinsurance, and capital optimization.
Direct insurance license – focused on HNW life insurance solutions.
We seek an experienced and commercially minded actuary, based in Bermuda, to take on this regulated role and establish and oversee actuarial practices that balance regulatory compliance with business agility
Key Accountabilities
Reserving & Financial Reporting
Ensure accurate reserves and actuarial valuations for statutory and internal reporting.
Capital Modeling & Risk Assessment
Lead capital modelling and filing under Bermuda Solvency Capital Requirement (BSCR) and support ORSA/CISSA processes.
Actuarial processes and governance
Define and implement actuarial frameworks, processes and models aligned with business objectives and regulatory requirements.
Pricing & Product Development
Working with the Group Products team, help develop pricing models and assumptions for products.
Regulatory Compliance & Liaison
Liaise with Approved Actuary to provide actuarial certifications.
Act as primary contact for BMA on actuarial matters.
Represent the Company in actuarial working groups & industry forums
Performance measures
Timely completion of technical provisions and valuation reports.
Timely production of actuarial inputs into IFRS17 results process
Accurate BSCR calculations and reporting, including timely filing of regulatory returns.
Stress and scenario testing completed in a timely and accurate manner, and resolution provided to all adverse issues noted.
Approved actuarial frameworks, processes and models implemented on time.
No adverse audit or regulatory findings on actuarial matters.
Pricing adequately allows for risk, in HNW product design and risk transfer deals.
Timely submission of actuarial opinions and reports.
Positive regulatory feedback and zero compliance breaches
Effective representation at key working groups and industry events
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.
