Munich Re reviews

4.1

85% would recommend to a friend

(890 total reviews)

Christoph Jurecka

100% approve of CEO

82% positive business outlook

Munich Re has an employee rating of 4.1 out of 5 stars, based on 890 company reviews on Glassdoor which indicates that most employees have an excellent working experience there. The Munich Re employee rating is in line with the average (within 1 standard deviation) for employers within the Verzekeringen industry (3.6 stars).

Reviews by job title

890 reviews
1.0
Oct 10, 2023
Recommend
CEO approval
Business Outlook

Pros

Getting paid at the end of each month maybe? The only pro I could think of really...

Cons

This review is for Dublin office. Headline is self explanatory, which gives you all the information you need if you intend to work for this company. I saw people join and then leave within two months and go back to their previous employers (which is extremely uncommon in any other organization). Another phrase that would define MunichRe would be "incompetence" as I've never seen so much hatred from the clients towards a vendor in my whole life. Literally on my first week, I was asked to introduce myself to a client, but I got yelled at nonstop for one hour because of the mistakes that was done by the company before me. After seeing similar reaction from other clients, it didn't take me too long to understand the root cause and leave. What I never understood and will never understand is, going to a design workshop to collect customer requirements, but seeing "technical architects" and "business analysts" never take a single note, and then the sales team and project directors prioritizing night time activities with the customers and then blaming the new guy (me!) for not smiling or contributing to a meaningless conversation at 1 AM after an exhausting 5 day workshop... Not to mention nobody even acknowledging the productivity of those sessions (which ultimately ends in loud complaints, but you get the idea)... Do not let the old review date distract you, these people who ruined my experience are still there in senior management.

2.0
Aug 5, 2021
Recommend
CEO approval
Business Outlook

Pros

They overpay, that's it really.

Cons

MRSI- the specialty insurance arm, is to be avoided at all costs. This is NOT the Munich Re you were hoping to join. Management is cold and uncaring of their employees. You are absolutely replaceable and they'll remind you repeatedly. MRSI is hyper focused on growth over underwriting results. Don't come here hoping to underwrite...grow grow grow In all of MunichRe - promotions are reserved for Risk Analysts (the internal training program where drones are made and fast tracked over experienced hires). Do not bother coming here as an experienced hire...you won't be appreciated compared to the drones they produce- even with years more experience. The most political company you'll ever work. "yes" men and women throughout- individual thought is NOT rewarded. Complete lip service to diversity and inclusion. Good luck looking for diversity in management ranks....

3.0
Aug 13, 2021
Recommend
CEO approval
Business Outlook

Pros

- Extremely smart colleagues - People are polite and kind and you might even make a few good friends - Good perks and benefits - Great office location (downtown Toronto) - Lots of fun socials (pre-pandemic)

Cons

- It's a reinsurance company so they focus on growing actuarial talent. If you are joining any of the supporting teams like HR, marketing, accounting, etc. then you will be treated as an inferior part of the company structure. - There is no opportunity to grow in the supporting teams - Company promotes feedback culture to escape accountability for bad management. Continuous conversation program is flawed because it ignores the unequal power structure between manager and team members. Managers are given too much power because continuous culture is so ambiguous. And there is no room for providing feedback upwards. -The small supporting teams operate extremely lean and have a cut throat attitude when it comes to performance -Does not care if employees are overwhelmed or stressed. Will offload projects with unrealistic deadlines. Taking time off is often looked down upon. -During the pandemic employees did not receive bonus but shareholders did receive dividend -HR provides little to no support -Lots of bureaucracy since it's a multinational

Viewing 1 - 3 of 890 Reviews

Glassdoor has 1,407 Munich Re reviews submitted anonymously by Munich Re employees. Read employee reviews and ratings on Glassdoor to decide if Munich Re is right for you.