I had already heard of reinsurance when I was still at school. I thought it seemed like an exciting branch. I gained initial practical insights and my interest grew during my first internship in a reinsurance company. Now I have been studying business mathematics for a few semesters, majoring in stochastic and insurance and I am sure that I want to work in the reinsurance branch.
A further three-month internship with Hannover Re reinforced this. During my two semesters in Ireland I started applying. This was no problem for Hannover Re: there was a telephone interview and soon afterwards I was accepted for a three-month internship in the division Advanced Solutions. The initial induction phase was a lot more comprehensive than I had expected. In the first four weeks I had regular seminars on reinsurance topics which I had to read up on beforehand and solve tasks on. Then there was an introduction to structured reinsurance – the division’s business. During the last part of the training I got to know the software tools that are necessary for the work.
This intensive induction allowed me to work in the department in a constructive manner. My first big project was working on an offer for a structured reinsurance contract for an insurer. I had to go through all the information and previous correspondence from the past years. Considering the range of branches and markets the company is active in, this was not so easy. After this, we identified what reinsurance product would be suitable. We prepared the data for this and simulated the run of the contract with the help of a certain software. Finally, we prepared the presentation for the customer.
Another project saw me supporting a colleague during the preparation for a business trip. I analysed the market and put together a work of reference from the information. It contains general information about the country and the risk of natural hazards, describes the market situation and provides information regarding regulations and the tax system.
During the whole internship I had a fixed contact person for all organisational questions and anything else I wanted to ask. I met this mentor once a week. He always took a look at what I was working on, if I had too much or not enough to do and if the internship was going well – for me and for the division. As a conclusion I can say – everything went really well. The internship was challenging which gave me the feeling that I could really support my colleagues. Thanks to everyone for such a successful internship.