Since its establishment in 1388, the University of Cologne has been a center of science and scholarship in Europe. Today, it is one of the leading German research universities. It has almost 5,000 academic staff including professors, 339 degree programmes and just under 50,000 students. The university offers its students an exceptionally broad and diverse subject base. The university is firmly committed to the advancement of human knowledge through basic research, but also with an eye to transfer and application in the real word.
A great example of this ‘real world’ application is the Department of Risk Management and Insurance that traces its roots back to 1903 with the creation of the Department of Insurance at the Municipal Commercial High School in Cologne. It took on its current name in 2002 and is now part of the Department of Business Administration. The areas of insurance law and actuarial law are managed by other faculties.
Since 1999, the internationally renowned economist Professor Heinrich Schradin has been the head of the Institute for General Economics, Risk Management and Insurance Economics. Between 150 and 200 highly qualified economists graduate every year. The institute is supported by Gen Re through a grant that enables it to invite international scholars for one year as visiting professors.