Munich Re

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Last month's flooding in central Europe caused more than $16 billion in damage, about a quarter of it insured.rte.ieGerman reinsurer Munich Re said its first-quarter net profit fell 33% to €543m as losses from floods in central Europe weighed on earnings.

As the company didn’t have to invest in CPU until it was needed, analysis became much more affordable.xam.com.auSolution – Microsoft Azure proved to be the perfect cloud partner for Munich Re. It offered flexible storage and virtual machines to exponentially increase computing power.

Munich Re has enjoyed a strong presence in the Indian market since the 1950s.munichre.comMunich Re is one of the first foreign reinsurers to receive approval for a dedicated branch in India following the 2015 amendment of the Insurance Bill.

  • Encrypted
    Site is Encrypted

  • Country
    Hosted in Netherlands

  • City
    Frankfurt am Main, Hesse

  • Latitude\Longitude
    50.1188 / 8.6843    Google Map

  • Traffic rank
    #24,059 Site Rank

  • Site age
    15 yrs old

  • Site Owner information
    Whois info

  • Stock price
    MUV2,MUV2,MUV2,323.1 EUR,+3.9 (1.22%),+3.9 (1.22%),+3.9 (1.22%)

  • Traded as
    FWB,:,MUV2,DAX Component

  • Founded
    3 April 1880

  • Headquarters
    Munich,,,Germany

  • Key people
    Joachim Wenning,, Nikolaus von Bomhard

  • Number of employees
    39,642 (2020)

  • Trade name
    Munich Re

  • Area served
    Worldwide

Traffic rank
#24,059
Site age
15 yrs
Location
Netherlands
Popular Questions for Munich Re
Newest job postings for Munich Re
via LinkedIn posted_at: 1 hour agoschedule_type: Full-time
Chief Claims Officer, Reinsurance North America Location of position: Princeton, NJ... About The Role As a member of both the Global Claims Executive Leadership team and the Munich Re US Executive Leadership (ELT) team, the Chief Claims Officer (CCO) for Reinsurance North America (RI NA) will have direct responsibility for the MRAm Claims team. This team will be newly formed and consist of the claims teams for MR US (Treaty and Facultative), MR Chief Claims Officer, Reinsurance North America

Location of position: Princeton, NJ...

About The Role

As a member of both the Global Claims Executive Leadership team and the Munich Re US Executive Leadership (ELT) team, the Chief Claims Officer (CCO) for Reinsurance North America (RI NA) will have direct responsibility for the MRAm Claims team. This team will be newly formed and consist of the claims teams for MR US (Treaty and Facultative), MR F&C US (Corporate business), Operations, Analytics & Reporting, Governance, and Claims Runoff Solutions (CRS). Furthermore, there will be additional responsibility for the Munich Re of Canada (MRoC) Claims team.

The role will have a dual reporting line to the Global Head of Claims in Munich (management view) and CEO of MRAm (legal view).

YOUR JOB
• Lead, motivate and manage a high performance team across the Munich Re America claims units with a focus on ensuring claims excellence and client centricity:
• Ensure proactive claims management and the legal and technical analysis of claims
• Manage payment of claims and adherence to the company’s internal risk controls
• Manage and report outlier claims including proactive establishment and review of reserves and IBNRs (SOIs) beyond the claims notification, including all available information in a structured way
• Continuously improve claims management to increase the effectiveness of core claims functions in light of digital transformation
• Responsible for the implementation of the Global Claims strategy & guidelines within Reinsurance North America; provide additional MR RI NA specific claims strategy & guidelines where needed
• Establish and maintain excellent networks - externally with key clients and brokers as well as internally across the Munich Re Group
• Plan and oversee internal and external claims visits, reviews and client events
• Proactively manage the Munich Re America run-off portfolio including expert claims management and development and execution of commutation strategies where appropriate
• Establish and implement Global Claims objectives and strategies for Munich Re RI NA claims operations in support of the corporate strategic vision and actively advance our Global Claims Ambition 2025, as a member of the Global Claims Executive Team
• Provide claims oversight for the Munich Re America legal entity
• Foster knowledge building and contribute to our thought leadership and market presence ambition including through presentations and other strategic activities
• Identify and meet the core business needs of our internal stakeholders (e.g. Client management, Underwriting, Central Reserving) on a management and team level
• Provide active feedback around claims developments in the MR US ELT meetings and regularly interact with your MR US ELT peers
• Manage the staffing (incl. mid-term workforce planning) and budget process; assure the acquisition, motivation, and professional development of talent in order to retain the right people and skills while enabling meaningful career development and the fostering of talent mobility
• Develop talent within Global Claims and contribute to the groupwide diversity and inclusion objectives
• Provide active claims support for new product development including innovation projects and digital claims initiatives
• Organize and lead regular regional Claims workshops to further advance Claims in North America

YOUR PROFILE

Successful candidates will possess the following skills/capabilities:
• Exceptional leadership, negotiation and influencing skills and a strong network of internal & external alliances
• 15+ years of progressively responsible U.S. property and/or casualty insurance/reinsurance experience, including 10+ years people management and claims experience preferred
• Outstanding leadership competence:
• Ability to lead and motivate highly qualified and diverse teams in a global setup
• In depth experience in guiding teams through transition phases and changes
• Energetic manager who can build and empower teams in an agile way and apply their diverse skills, perspectives and experiences to achieve common goals
• Proven track record in attracting and developing colleagues through coaching, feedback and providing opportunities
• Demonstrated exceptional strategic thinker with strong analytical and problem solving skills
• Strong negotiation skills and a confident and assuring manner
• Thorough understanding of the insurance/reinsurance underwriting process
• In-depth experience and education in property and casualty claims issues and coverages as well as in U.S. law, including state specific tort laws and good understanding of Canadian law specifics
• Excellent communication (written, verbal, and presentation), interpersonal and networking skills; including the ability to cogently articulate claims issues to all levels of the company
• Willingness to travel up to 25%
• Bachelor’s degree required; MBA, JD, CPCU or other designations preferred.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
Show more details...
via Careers At Munich Re posted_at: 4 days agoschedule_type: Full-time
Insurance Programs Underwriting Manager Location: Philadelphia, Princeton or Chicago... Job Description We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. The Company Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through Insurance Programs Underwriting Manager

Location: Philadelphia, Princeton or Chicago...

Job Description

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.

The Opportunity

Future focused and always one step ahead

This Underwriting Manager role is a member of the North America Insurance Programs leadership team and responsible for the management and administration of an underwriting team and portfolio of Program (MGA and PA) Business. The position is a Senior Vice President level, reporting to the President of Programs, and will provide direction and oversight for underwriters within the team.

In this position you will:
• Lead, develop and provide oversight for a team of underwriters to achieve Programs and Munich Re Specialty Insurance (MRSI) objectives. Provide direction and support for underwriting of accounts within the Programs book of business.
• Navigate and excel through the broad set of underwriting dynamics impacting the Programs book of business while ensuring we maintain and enhance a portfolio meeting our profitability targets.
• Establish and maintain consistent underwriting processes, guidelines and portfolio oversight of assigned programs within the team
• Collaborate and drive excellence in execution with support areas outside of Programs, including key functional units within MRSI (i.e. corporate underwriting, operations, finance, claims and distribution) and Regional Shared Services.
• Execute on our distribution and production strategy by establishing and growing professional relationships with key MRSI and strategic Programs partners
• Drive production and select partner relationship strategies to maximize profitable growth within Programs while advancing new and existing MGA/PA relationships.
• Assist Programs President in developing and executing strategic business plans that support MRSI objectives and lead and/or assist with projects, seminars, meetings, etc. as assigned.
• Broaden Programs’ visibility and presence within the industry niche, supporting conferences, speaking engagements, and other industry initiatives to advance our status as an industry leader.

Qualifications

Successful candidates will possess the following experience/skills/qualifications:
• Prefer 10 years prior underwriting experience with 3 years of prior management experience
• Strong technical, portfolio management and analytical acumen including the understanding of insurance and reinsurance transactions and the Program Business market.
• CPCU certification or MBA preferred with experience in multiple lines of business including casualty, professional liability, property, and workers’ compensation.
• Demonstrated superior negotiation skills, facilitating and managing the complexities and difficulties associated with sourcing business through third-party production sources and the ability to manage key client relationships while maintaining profitable relationships throughout market cycles.
• Strong ability to think strategically and demonstrated ability to contribute to new ideas and thinking within an industry niche.
• Ability to communicate effectively with clients, production sources and personnel at all levels throughout the Munich Re Group and the wider industry.
• Experience in providing underwriter training, with strong skill set in giving straight-forward, clear direction, guidance and coaching.
• Proficient in portfolio monitoring tools and proficiency in Microsoft Office suite, particularly Excel, PowerPoint and PowerBI

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
Show more details...
via Indeed posted_at: 7 days agoschedule_type: Full-timesalary: 240K–353K a year
Chief of Staff Company... Munich Re America Location Princeton , United States Chief of Staff This role is open to the following locations: New York NY, Philadelphia PA, and Princeton NJ. Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, Chief of Staff

Company...

Munich Re America

Location

Princeton , United States

Chief of Staff

This role is open to the following locations: New York NY, Philadelphia PA, and Princeton NJ.

Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.

The Opportunity

This is a key role providing strategic support and monitoring for MRSI business. This role reports to the President & CEO of MRSI and is a member of the MRSI Executive Leadership Team. This role will ensure that MRSI business priorities are executed upon and the impact of these priorities are effectively monitored. This role has a key responsibility to support a strong environment of accountability for all goals and initiatives.

In addition, the role will be responsible for leading certain key strategic projects, participating on project teams or representing the MRSI CEO in certain meetings or events.

Major responsibilities include:
• In partnership with the MRSI Executive Leadership Team, facilitate and drive the development, execution and monitoring of the MRSI strategic priorities and objectives
• Serve as strategic advisor to President & CEO of MRSI on topics related to business organization and development
• Identify key stakeholders and build relationships to gain their trust and confidence in the process and engage them in the effort to create and deliver the MRSI plan
• At the direction of the President & CEO of MRSI, initiate and manage key strategic projects or participate on project teams to help drive the implementation of strategic priorities relevant to MRSI
• Spearheads the management of MRSI executive meetings including development of agendas, helping run the meetings, capturing of minutes and capturing and tracking action points
• Work closely with the leadership team to manage communications across MRSI. This liaising with internal and external corporate partners to communicate key messages to a variety of target audiences across the organization
• Take the lead on preparing the content and form of key presentations for the President & CEO of MRSI. Audiences can be internal and external and include but are not limited to clients, industry, internal staff and local, regional and global leadership
• Bring time critical matters to the attention of the President & CEO of MRSI and help direct or coordinate response to time critical inquiries

Successful candidates will be possess the following skills/capabilities:
• Bachelor’s degree in Business discipline
• Solid business acumen and understanding of organizational issues and challenges relevant to insurance companies
• 7+ years of relevant professional experience. Experience in project management, strategic consulting, and organizational performance.
• 3+ years experience in initiating, managing and leading projects along with strong change management competencies
• Ability to build effective working relationships quickly within MRSI, with relevant stakeholders and among Munich Re entities, locally, regionally and globally
• High proficiency in the Microsoft office suite. Expert in visualizing complex data (including PowerPoint and Power BI)
• A demonstrated ability to influence thinking and engage at all levels of an organization
• Superior detail orientation and rigorous in thinking through project plans and action items
• Excellent communication skills across a variety of mediums
• Strong executive presence and the ability to partner, communicate and influence leadership
• Strong emotional intelligence allowing an understanding of how change will impact individuals in the organization
• Expected travel 10% of the time

The Company is open to considering candidates in numerous locations, including NYC. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $240,500 - $352,700, plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Apply now
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