Munich Re as an employer – Maintaining our reputation

Munich Re companies are among the most popular employers globally, not only because Munich Re offers individual development measures and a vast range of challenging jobs but also, first and foremost, because of the employees themselves. The best people find their way to us as a result of systematic HR work.

Globally, some 50,000 staff ensure Munich Re’s success, thanks to their expertise, motivation and commitment. The Group stands for an exceptional diversity of individual skills and challenging assignments in a demanding and appreciative work environment. Our founder, Carl von Thieme, was considered one of the most socio-politically progressive employers of his time. We uphold this tradition by offering staff first-class benefits and support. Consequently, for many years, Munich Re has enjoyed consistently low staff turnover rates, a number of our staff having been with us for many years – proving our attractiveness as an employer.

Successful with clear positioning

We firmly believe that if we increase staff motivation through personal development, this will continue to have a very favourable impact in maintaining Munich Re on its successful course. Our International Human Resources Committee (IHRC) ensures the high quality of our HR services is maintained throughout our Group reinsurance segment globally, and this applies as much to experienced as to young staff.

“Our aim is to attract the best people by clear employer brand positioning: we offer excellent working conditions, good opportunities for personal development and a value-based corporate culture.”

Dr. Peter Seemann, Head of Human Resources at Munich Re

This mindset pays off: Munich Re’s reputation is being consolidated in the face of national and international competition. Our family-friendly working-hours models, rigorous promotion of health, diversity principle and performance-related, transparent remuneration system are just some of the reasons why we are appreciated globally as an employer and as a company. Munich Re is currently ranked among the top 100 companies in the Trendence Institute’s graduate barometer. This is based on a survey conducted among 30,000 students in Germany to ascertain the popularity and attractiveness of German companies. Munich Re also features in CNNmoney’s list of “most admired companies”. In the insurance segment, Munich Re is one of the ten companies listed with the best reputation globally.

Good global working climate

Primary insurer ERGO’s positive working climate is not solely confined to Germany. For example, ERGO Hestia was voted among the top ten major-company employers in Poland in an employee-satisfaction survey carried out by the Polish subsidiary of Hewitt Associates, a leader in the HR field.

Systematic HR work with maximum outreach

We rely on systematic HR work to maintain the same high standards globally in the future and attract the right specialists for the right jobs within the Group. Munich Re, ERGO and MEAG job vacancies are advertised internally in the Group’s own job listings, and usually across brands and regions. Depending on the scope required and the target group, jobs may also be advertised on a number of global internet job portals so that our internal and external job offers are available everywhere. These activities are supported by international university networking, representation at international careers fairs, social media activities and extensive public relations work.

Group staff by line of business

In 2010, Munich Re (Group) employed a total of 46,915 staff. Staff reductions introduced at ERGO in 2009 as part of the “Continuous improvement in our competitive position” project were completed on schedule in 2010 and involved no compulsory redundancies.

Staff by region (reinsurance)

Some 50% of reinsurance staff are employed in North America. North America and Europe together account for 92% of our reinsurance staff.

Staff by region (primary insurance)

Most of ERGO’s staff work in Europe, with staff growth rates increasing outside Germany. In addition, 24 ERGO staff are employed in North America (not taken into account in the chart).

Length of service at office sites in Germany

At the end of the 2010 financial year, the average length of service of Munich Re employees based at office sites in Germany was 14.8 years. This figure testifies to their loyalty to the Group and the positive working climate.