Munich Re reviews

Huge transformation going on so can feel a bit hectic

MR US CEO is arrogant, condescending and egocentric. His direct reports do not bother advising him as he is German and knows everything. They just follow orders. Authorities are words on paper but none in reality. Everyone is micro managed. Different rules for different people. Accelerated career ladders for friends. Interviews are a farce as most often “special people” will get coached for interview by the interviewers. Office politics is overwhelming. Compensation is stagnant and not competitive. Bonus tied to lack of worldwide catastrophes. No bonuses were paid during Covid. Supplies were on the employees dime. pricing tools are antiquated. Layers of work arounds and multiple excel based tools. Blame shifting, managing out vs managing up employees and bullying/ fear tactics best describes management style -driven by CEO. Strategy changes at a whim. Communication is poor. Goals are vague. Careers are capped unless you are German, Risk trainee, or have a friend on BOD mgmt that will send a recommendation.