Munich Re Specialty has regulatory clearance to sell commercial specialty insurance in Germany, a move that extends its European footprint.
The new unit adds to its operations in the UK, Ireland, and Spain, where business began in April.
The German launch starts with construction, engineering, property, and renewable energy — all product lines already running in Spain.
Both countries now also feature surety, which the company calls an expansion of its underwriting appetite.
Germany is the largest and deepest insurance market in continental Europe, and as the home of Munich Re, we are delighted to be extending our specialty offering into a market that instinctively understands our brand and its value
Silvi Wompa Sinclair, CEO of Munich Re Specialty — Global Markets, Europe
She pointed to surety as proof of the group’s wider ambitions on the continent. “We take a considered, informed approach to understanding your unique risks. Our experts can help deliver insurance solutions for both traditional and emerging industries, combining expertise and financial strength to help you navigate an ever-changing world with increased confidence.”
To make the expansion work, Munich Re set up a German branch of Munich Re Risk Solutions Ireland Ltd., which carries approval to passport into Germany.
Business written through this branch will be placed with Great Lakes Insurance SE, another Munich Re subsidiary.
The new structure sits alongside Hansekuranz, the group-owned MGA already operating under Munich Re Specialty in Europe.
Management shifts are part of the rollout. José David Jiménez Garcia steps in as managing director with a mandate to grow business and strengthen broker ties. Julia Kromer will lead surety as chief underwriting officer.
