Munich Re Specialty has confirmed its planned entry into the Spanish commercial market for primary specialty insurance, with activities slated to begin in 2025.
Munich Re Risk Solutions Ireland Limited’s new Spanish office officially received regulatory approval for its entry to Spain. The move aligns with the company’s European expansion strategy, building on existing operations in the UK, Ireland, and Germany.
Gianluca Piscopo has been appointed country manager to manage core business activities in Spain from a new Madrid office. Piscopo joined Munich Re in September 2024 and will report to Silvi Wompa Sinclair, CEO at Munich Re Specialty - Global Markets, Europe.
Meanwhile, Miguel Peces has been assigned as head of underwriting for the Spanish branch. Piscopo and Peces are poised to support the broader strategies of Munich Re Speciality to penetrate the potential insurance market in Spain by tapping into the emerging demand for insurance in the region.
Furthering this, Munich Re Specialty will open its doors for new roles to offer new talent a chance to join its expanding team in response to growing demand in the sector. The company is looking for professionals skilled in underwriting, risk management, and claims to maintain its competitive edge in the specialty insurance market.
Commenting on the move, Wompa 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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