Women in reinsurance


PrOFILE Name:


Pina Albo


Company: Munich Re America Job:


President, reinsurance division


Timeline: 2010—Involved in Munich Re Women’s Network


1996—Launched a women’s group at Munich Re


1992—Joined Munich Re


Pina Albo is president of the reinsurance division of Munich Re America. She started her career as a lawyer in Canada and joined Munich Re in 1992.


In 1996, Albo helped launch a women’s group at Munich


Re’s headquarters in Germany. The group was instrumental in creating a daycare centre for the children of employees of Munich Re and members of the community, among other things.


In 2010, she was the executive sponsor of an initiative created


to encourage the development of women within the company, working with the human resources department to launch the Munich Re Women’s Network. She is currently vice chair of the diversity council for Munich Re’s US P&C operations.


Albo’s accolades include a string of industry awards. In June 2011, she received the APIW Insurance Woman of the Year Award. She is also a 2012 YWCA Tribute to Women Award winner, and the 2013 winner of the Luminary Leadership Award presented by the Insurance Industry Charitable Foundation.


Today, she leads a team of 300 professionals across the US


and is responsible for $1.9 billion in reinsurance premiums written directly and through brokers. She takes part in numerous strategic activities at Munich Re including mergers and acquisitions. She also sits on several Munich Re boards, in addition to those of the Reinsurance Association of America and the Insurance Information Institute, as well as the Board of Governors of the School of Risk Management of St. Joseph’s University.


A highly acclaimed professional within the industry, Albo


says that her biggest achievement to date is her current role as president of the reinsurance division of Munich Re America.


“Setting and executing strategy in such a large, challenging and dynamic market means there is never a dull moment,” she says.


“I have held a number of roles in Munich Re including two leadership positions in business operations outside of our head office in Munich, namely Canada and the US. The challenge in such cases is both personal and professional,” she says.


“On the personal front, it involves uprooting family, saying goodbye to friends and familiar places and setting up anew. On the professional side, it involves coming into a market from the ‘outside’ and ‘behind’ (so to speak) and having to understand the new business environment, its challenges, opportunities, clients, etc, quickly and well enough to feel you can add value and be respected as a leader.”


Content in her current role and chosen industry, Albo does not


have any specific aspirations right now. “I really enjoy working in our industry and my current role. That said, I do believe that our industry offers significant opportunity and that there is always room for growth within the Munich Re family,” she says.


May 2014 | INTELLIgENT INsUrEr | 5


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