Munich Re Specialty, a division of the worldwide reinsurer Munich Re, has introduced its entry into the Spanish insurance coverage market, focusing on the first specialty sector.
With operations anticipated to start in 2025, the corporate has established a Spanish department of Munich Re Threat Options Eire, which has the regulatory approval essential to function inside Spain.
This transfer is a part of a strategic initiative to develop Munich Re Specialty’s presence throughout Europe, constructing on its present enterprise within the UK, Eire, and Germany.
Gianluca Piscopo has been appointed because the nation supervisor to supervise the day by day operations of the first enterprise in Spain, with an workplace set to open in Madrid.
Having joined the corporate in September 2024, Piscopo brings expertise and information of the Spanish market.
He will likely be chargeable for driving progress methods and strengthening relationships with brokers and shoppers.
Entry probably the most complete Firm Profiles
in the marketplace, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nevertheless, we would like you to take advantage of
useful
choice for your online business, so we provide a free pattern you could obtain by
submitting the under type
By GlobalData
Piscopo will report back to Munich Re Specialty – world markets, Europe CEO Silvi Wompa Sinclair.
To bolster its underwriting capabilities in Spain, Munich Re Specialty has named Miguel Peces as head of underwriting for the brand new department.
The corporate additionally plans to recruit extra roles to assist its specialty enterprise and capitalise on native market alternatives.
Nevertheless, the growth into Spain is contingent upon receiving additional regulatory approvals and formal underwriting authority.
Sinclair mentioned: “The insurance coverage market in Spain is vibrant, revolutionary and excessive performing, full of devoted threat professionals.
“For these causes, the nation is a superb launchpad for Munich Re Specialty to show the worth of its European growth technique. I look ahead to working with Gianluca, Miguel, our group and new native companions and shoppers to fulfill their challenges.”
In September 2024, Munich Re North America Life, additionally a part of Munich Re, launched a longevity reinsurance answer geared toward shoppers within the US and Canada.
This answer is designed to help shoppers in managing biometric dangers related to pension or annuity funds, offering them with a predictable money move.
