Munich Re specialty will enter the Spanish insurance market

Munich Re Specialty has announced that it is entering the Spanish commercial specialty primary insurance market with the aim of starting underwriting in 2025.

Established a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory approval to passport in Spain. This unit marks the first new country in a wider plan to build a wider European footprint – expanding on Munich Re Specialty’s existing work in the UK, Ireland and Germany.

To lead day-to-day primary business operations in Spain, Gianluca Piscopo has been appointed Country Director and will open an office in Madrid. Piscopo joined Munich Re in September 2024 and brings a wealth of experience and expertise from the Spanish market. Piscopo will drive tactical growth and drive key broker-client relationships and will report to Silvi Wompa Sinclair, CEO at Munich Re Specialty – Global Markets, Europe.

Miguel Peces has been appointed head of underwriting for the Spanish branch. To support Munich Re Specialty’s drive to capture local market opportunities, a number of new roles will continue to be recruited to support our core specialty business.

“The insurance market in Spain is vibrant, innovative and high performing, full of dedicated risk professionals,” commented Sinclair. “For these reasons, the country is an excellent launching pad for Munich Re Specialty to demonstrate the value of its European expansion strategy. I look forward to working with Gianluca, Miguel, our team and new local partners and customers to meet their challenges.”

Source: Munich Re specialty

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