Procurement at Munich Re
As a globally operating organisation, Munich Re procures many different goods and services throughout the world. By purchasing at best total value in terms of quality, time and cost, while ensuring compliance at all times, the procurement functions throughout the Group seek to deliver a substantial and lasting contribution to the success of Munich Re.
At all locations and along the entire value chain, our procurement activities are shaped by a deep sense of corporate responsibility. Environmental, social and governance (ESG) criteria are at the heart of our approach, and we expect our suppliers to meet them as well.
Our Procurement Principles
Adherence to the UN Global Compact
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
For further details see:
Procurement at Munich Re - Reinsurance
Central Procurement, the central purchasing division of Munich Re, is responsible for the acquisition of all goods and services for the reinsurance group.
Its overarching strategic functions include demand management, category management, supplier management, contract management and ensuring compliant ordering practices (key concepts: risk minimisation, compliance, anti-fraud).
Different areas of Procurement
Munich Re has broken down goods and services into six sourcing categories:
1. Information Technology
3. Data & Online Services
4. Travel, Marketing & Events
5. Real Estate, FM & Finance
6. BPO & Professional Services