Testimonial

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Internationality and continuing development

After finishing a Business Management degree, Reinhard Paul started working in the Central Division Reinsurance Development (an internal consulting unit in the reinsurance field of business). He accomplished several career stages there and as Senior Project Manager, he was in charge of business and strategy development initiatives in North America. Afterwards he transferred into a Client Management role in the EU/LA division (Europe and Latin Amerika), where he is responsible for clients in the UK and Ireland.

"At a very early stage, I knew that I wanted to join Munich Re after my degree. During periods as a working student and intern, my stages in various operational and central divisions convinced me that reinsurance was the right choice for me. Afterwards, I also wrote my diploma thesis here in the company. It was a perfect entry, because the various insights I gained would support me right from the beginning in strategy development and project management for different divisional units.

In the Central Division Reinsurance Development we analyse the social and economic environment in various regions and assess how the insurance market is likely to develop in the individual countries. Then we look at all relevant insurance companies and products in a market, and define our objectives and the implementation measures to achieve them. It is particularly important to engage in a continuous dialogue with operational colleagues on the ground. In concrete terms, that means a lot of listening and asking questions, processing data and discussing possible approaches, so that we can then draw up a coherent overall strategy that focuses on essentials and can actually be implemented.

During the time as a project manager I especially enjoyed the close collaboration with colleagues from operational business, the highlights of course being projects at the business units in our International Organisation, such as Princeton, Beijing or Sydney. It is always fascinating to get to know the characteristics of the local insurance markets and our business models. Continuous developments in the political and economic environment as well as in the context of innovation put our business model regularly to test and require continuous adjustments. The opportunity to be a driving force for the proactive development of the Group constantly motivates me in my day-to-day work.

In the meanwhile I returned as a Client Manager into the business unit, where I wrote my diploma thesis. Here, I am responsible for important client relationships in the United Kingdom and Ireland and I benefit a lot from the experience gained as a Project Manager. Because we are particularly successful if we act as a team and provide the client with tangible value based on the variety of strengths, that Munich Re can offer.

Besides the experience gained from the tasks I was assigned, Munich Re has also provided me with comprehensive development opportunities. These have included a variety of personal self-improvement, methodological and professional training courses. For example, in addition to seminars in the areas of leadership and project management, I derived great benefit from several weeks’ training in an underwriting unit in one of our business units. At Munich Re, I am able to extend my personal horizons quick and easy. Because everyone is ready to share individual specialist knowledge, exchange informed opinions and work together with the needs of our clients in mind.

In general, what I find fascinating about the world of (re)insurance is the collective principle behind it. Insurance companies protect people and companies against risks by taking the individual risk based on the premiums of many. Therefore, our work ensures a key safety function for the macro-economic development in every region throughout the world."

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