Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025.
It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory approval to passport into Spain. This establishment marks the first new country among a wider plan to build a broader European footprint – expanding on Munich Re Specialty’s existing business in the UK, Ireland and Germany.
To lead the day-to-day primary business operations in Spain, Gianluca Piscopo has been appointed as country manager 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 foster key relationships among brokers and clients, and report to Silvi Wompa Sinclair, CEO at Munich Re Specialty – Global Markets, Europe.
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, a number of new roles will be recruited going forward to support our primary specialty business.
“The insurance market in Spain is vibrant, innovative and high performing, filled with dedicated risk professionals,” commented Sinclair. “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.”
Source: Munich Re Specialty
Topics Trends Excess Surplus New Markets Market
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