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Underwriters communicate our risk appetite

A skyscraper built in an earthquake hot zone, cargo traveling pirate-infested waters – what could possibly go wrong? For our underwriters writing such risks is part of their daily diet.

Underwriters find answers before questions come up

In the spirit of “not if but how”, Munich Re underwriters support major industry players, companies that shape the way we live and work. They enable the confident operation of businesses in a world that is growing more complex every day.

As an underwriter, you find the answers to all risk-related questions relevant to a case before you put ink to paper. For reinsurance solutions, you assess the risk of original policies and evaluate business portfolios. When assessing large-scale complex single risks, you draw on your expertise and that of the many expert teams available to you in the global Munich Re network. You not only calculate premiums but negotiate closely with clients to devise mutually satisfactory treaty conditions before you draw up – and sign – a contract.

What we look for in underwriters

Excellent decision-making and negotiation skills
Strong analytical skills
An open mind, creativity and business sense in coming up with solutions
Client-minded communicator and team worker with intercultural and interpersonal competencies

Meet our underwriters

Munich Re offers a range of intellectually challenging and diverse careers in underwriting, from reinsurance to industry covers to product innovation. Your strengths and preferences inform the direction, in which you drive your career. Meet Anja, who gives future hazards like storms pricetags by investigating past events. Meet Michael, who assesses the impact of disasters, from fires to floods, and writes complex risks for a cross-section of major industry players. And, meet Manja, who helps send satellites into space and reinsures rocket launches.

Anja: Measuring meterological risks to model the prize for future hazards

Anja, Munich Re Germany, Munich, Convective Storm Consultant, Meterology
At Munich Re, we work hand in hand with scientific institutes on a daily basis. My team and I develop diverse risk models - our highest priority and also the base for insurance is the transparency of future risks.
Anja, Convective Storm Consultant, Meterology
Munich Re Germany, Munich

Michael: Helping clients make the risks they encounter more manageable

Portrait Michael Stuber
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Michael, Munich Re Germany, Munich, Underwriter Facultative Property
Michael apprenticed with us, before joining a work-study programme in 2007. He graduated with a degree in business administration and has actively expanded his horizons ever since.

Writing a broad spectrum of complex industrial risks in Facultative Property, Michael serves global insurers worldwide with a focus on North America. For these transactional deals with tailored pricing, he negotiates multi-million Euro contracts, often with a tightly controlled schedule. His experience and a sound understanding of the industries help him to be innovative in the solutions he offers, such as Nat Cat and stand-alone Business Interruption products. For access to more in-depth subject-matter expertise he interfaces with Munich Re teams, such as Marine, Energy or Engineering.

Michael’s involvement doesn’t stop with the signed contract. He cultivates client relationships, not least because his underwriting can build a bridge to treaty commitments. He supports claims managers in adjusting claims and helps product innovation by sharing feedback. A significant part of his daily work goes to Nat Cat assessment and understanding the trends that affect the risk landscapes, in which his clients operate.

Desk work
for example, calculating pricing, analysing risks, checking the wording of agreements
Interaction with clients and brokers
in phone conversations, negotiations, and meetings
Administrative work
for example, participating in internal meetings, guiding student trainees, or expanding expertise in seminars and workshops
Business trips per year
cultivating client relationship, visiting risk sites with insureds and cedents, and engaging with business leads

I look at risks from all angles – technical, legal, and social. The challenge inspires me, not just intellectually. Becoming a volunteer firefighter has led me to appreciate more deeply how we, as underwriters, help people manage – and even avoid – very real perils. We make an impact, and that’s gratifying. 

My favourite projects change the way I perceive the world, for example, those involving household-name brands. We see and use their products every day. Underwriting allows me to glimpse the world behind a product. It comes with fascinating insights into companies’ global operations. 

Manja: Not if but how: Transferring complex space risks into insurable solutions

Portrait Manja Prömmel
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Manja, Munich Re Germany, Munich, Senior Underwriter
Manja Prömmel studied Law in Germany and South Africa before she joined Munich Re as a trained lawyer 13 years ago. Today, clients benefit not only from her legal expertise but her skill in arguing a point.

As an experienced underwriter, Manja handles space risks with a higher level of complexity. Offering space insurance solutions, for example for the services of small multi-flexible satellites or satellite constellations, Manja is in daily contact with brokers to negotiate and exchange ideas. The required solutions she works out with the Space team balancing structured thinking and pragmatism. Face to face meetings with clients and leads frequently take her away from Munich.

Serving in a leadership role as a senior, Manja takes a cooperative approach. Her focus is on motivating more junior colleagues to stretch their abilities. She offers challenging tasks or encourages interaction with demanding clients and brokers. Manja helps colleagues expand their expertise in risk assessment and pricing, either by directly supporting them or by inviting them to collaborate on high-level and more complex risks. The ensuing lessons-learned exchanges cultivate their ability to work independently in the future.

Risk assessment and pricing
Support of colleagues in risk assessment and pricing; and team discussion of risks
Work on projects, especially in New Space
Calls and correspondence with brokers and clients; traveling
Space insurance is a small community with long-standing relationships between individuals. It’s our ambition to be – and stay – best in class in the capacity we offer, the service we provide and in our cooperative approach to finding solutions for our clients.
Munich Re, Germany, Munich
Senior Underwriter Space

The most exciting parts are risk inspections at launch sites, like the Kennedy Space Center or the Tanegashima Space Center in Japan. Visits to satellite manufacturers fascinate me because I have this rare opportunity to see the actual building and testing of a satellite. The highest honour is an invitation to the launch itself – and to witness a tiny piece of human history as it’s written. 

I was invited to join, and it’s been a great experience. It’s an international business with globe-spanning relationships and negotiations. I find keeping up with the latest in space technology, with innovations and their future applications stimulating. Space is a frontier, and – in supporting the exploration of insurability of space technology – we are pioneers. 

Are we a match?