All employees at our German locations receive a salary in accordance with the German wage agreement for the insurance industry. As members of the AGV, the employers’ association for insurance companies in Germany, ERGO and Munich Re are bound to follow the wage agreements it reaches with employee representatives in collective bargaining; these agreements classify roles within insurance companies according to the requirements of the position.
In addition, employees receive a special payment each in May and November. Other variable salary components employees may receive include a monthly performance bonus, based on the Company’s performance, an annual bonus linked to the achievement of individually agreed targets, or a one-off payment for outstanding performance.