Munich Re Specialty has initiated steps to enter the Spanish commercial market for primary specialty insurance, aiming to start underwriting in 2025.
The company has established a Spanish branch under Munich Re Risk Solutions Ireland Ltd., which holds regulatory approval to “passport” into Spain.
This process allows firms authorized in one EU country to operate more easily in another.
Spain marks the first new country in Munich Re Specialty’s broader plan to expand its European footprint, which currently includes the UK, Ireland, and Germany.
Gianluca Piscopo, a veteran of the Spanish market, has been appointed as the country manager and will lead operations from a new office in Madrid.
Piscopo, who joined Munich Re in September 2024, will focus on driving growth and fostering key relationships with brokers and clients. He will report to Silvi Wompa Sinclair, CEO of Munich Re Specialty – Global Markets, Europe.
The Spanish insurance market is known for its innovation and high performance, making it a strong base for Munich Re Specialty’s European expansion, according to Wompa Sinclair.
Additionally, Miguel Peces has been appointed as head of underwriting for the Spanish branch, with more new roles expected to be filled soon.
by Yana Keller
