Munich Re Specialty enters Spanish insurance market, to begin underwriting in 2025

Munich Re Specialty, part of the Munich Re Group insurance operations, has established a Spanish branch of Munich Re Risk Solutions Ireland Limited, making its first steps into commercial market for primary specialty insurance in the country.

The firm intends to begin underwriting in 2025, as Munich Re Risk Solutions Ireland already holds regulatory approval to passport into Spain.

This move represents the first phase of a broader strategy to expand Munich Re Specialty’s European footprint, building on its existing operations in the UK, Ireland, and Germany.

Gianluca Piscopo has been appointed as Country Manager and will open an office in Madrid, where he will oversee the day-to-day primary business operations in Spain.

Gianluca, who joined Munich Re in September 2024, brings deep experience and expertise in the Spanish market. He will drive tactical growth and foster key relationships among brokers and clients, and report to Silvi Wompa Sinclair, Chief Executive Officer, Munich Re Specialty – Global Markets, Europe.

Concurrently, Miguel Peces has been appointed as Head of Underwriting for the Spanish branch, to support Munich Re Specialty’s work to capture local market opportunities.

The global insurer added that several new roles will be recruited going forward to support its primary specialty business.

Sinclair, said: “The insurance market in Spain is vibrant, innovative and high performing, filled with dedicated risk professionals.

“For these reasons, the country is an excellent launchpad for Munich Re Specialty to prove the value of its European expansion strategy. I look forward to working with Gianluca, Miguel, our team and new local partners and clients to meet their challenges.”

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