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Background in Economics

Does this profile look familiar?

  • A university degree in applied economics, preferably with an emphasis on
    • Insurance economics
    • Technical accounting
    • Auditing/fiduciary matters, taxes
    • Controlling
    • Finance
  • Interested in economic matters
  • A memory for figures and an analytical brain
  • Enjoy liaising with international clients and working together with colleagues of different nationalities
  • An excellent command of English and basic knowledge of a further language such as Spanish or French
  • Good computer skills, familiar with Microsoft-Office products
  • Creative and inventive, a team player, able to communicate easily, a self-assured manner
  • Work experience in either insurance or reinsurance, or both

If so, why not send an unsolicited application to one of the following departments:

 

 

Underwriting

At Hannover Re, “insuring the insurers“, the so-called underwriting, usually takes place in treaty departments organised according to countries. As such, there are treaty departments which are responsible for the respective treaty reinsurance of our clients, the primary insurers, in a defined part of the world. Treaty reinsurance means reinsuring the whole or parts of a portfolio of a primary insurer. By way of contrast, it is also possible to reinsure single risks. This so-called facultative reinsurance is handled by our Facultative and Specialty Divisions. The Specialty Division primarily deals with the transport, space and aviation insurance lines of business.

In contrast to this, the Facultative Division mainly handles property, casualty and energy business. Both divisions operate on a worldwide basis.

In addition to this, there are three further “exceptions“, i.e. treaty departments which are responsible for worldwide reinsurance of business emanating from the following lines of business:

  • Credit/Bonds & Political Risks
  • Hannover Life Re (Life & Health reinsurance)
  • Advanced Solutions Germany (Financial reinsurance)

 

The job of an underwriter primarily includes the following activities:

  • Analysing business emanating from our cedants (primary insurance companies) in the respective countries, signing reinsurance contracts
  • Analysing treaty offers, establishing an adequate price
  • Negotiating with cedants and/or brokers
  • Carrying out market analyses
  • Carrying out statistical evaluations
  • Attending to clients which means going away on business – sometimes even on a worldwide scale

The tasks described above are generally true for any treaty department. As far as a detailed description is concerned, there may be slight differences due to the individual characteristics of the respective region or area of business.

 

 

Finance and Accounting

Our demand for business and political economists primarily results from work surrounding the drawing-up of our financial statements. In particular, this includes the drawing-up of the individual financial statements of Hannover Re’s subsidiaries as well as the consolidated financial statement of Hannover Re in accordance with the German Commercial Code (HGB), the International Accounting Standards (IAS) and IFRS. Group reporting, support of our local offices as well as complex accounting transactions such as portfolio transfers or Intercompany Transactions are a few of the activities surrounding this job.

We are only able to point out to you part of the opportunities available to business and political economists when it comes to joining Hannover Re, of course. Should you have concentrated on specific areas during your studies or should you have related work experience, there might be further possibilities of joining the company in the following areas:

  • Corporate Development and Company Organisation
  • Controlling, Auditing
  • Human Resources Management

In the end, joining the company depends upon vacancies, your profile as well as your preferences and interests.