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Senior Surety Claims Specialist, Europe (m/f/d)*

Location Frankfurt am Main, Germany Job type Full-Time Work mode Hybrid Job level Professional Job ID 11015 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Claims & Underwriting
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About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.  

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

Please see our website for more information.

The Senior Surety Claims Specialist - Europe  will be responsible to direct all aspects of managing Surety  Restructuring & Claims Cases for Conditional, Unconditional, First Demand Surety Bonds & Guarantees across Europe. The Senior Surety Claims Specialist will strategically partner with Legal Partners & local Surety Underwriters, and drive optimal claim resolutions. In this role, the Senior Surety Claims Specialist - Europe will check the validity of a claim, review and determine coverage, manage the claim investigation, payment of claims and rejection of unjustified claims, evaluate the overall claim, communicate promptly with internal and external stakeholders, decide & set up provisions and pursue recoveries and risk transfer where warranted. This role will follow best practice claims processes, Group guidelines and local European regulatory requirements.

Your Job: 

  • Thorough investigation and assessment of claims against Surety Bonds & Guarantees for coverage, damages, and pursuit of recoveries and subrogation/contribution opportunities.  
  • In-depth understanding of coverage issues, bond forms, contracts, regulatory requirements, and changing legal landscape.
  • Proactive and prompt management of claims, considering all aspects with a strategic vision for optimal claim outcome.
  • Continual evaluation of claim to set appropriate, timely reserves over the life of the claim to reflect changes in exposure.  
  • Demonstrate strong technical claims proficiency through consistent execution of best claim practices.
  • Strategically coordinate and manage outside counsel, customers, beneficiaries, brokers, internal & external stakeholders and vendors to obtain optimal claim outcome.
  • Present high exposure claims to Claims Leadership and key stakeholders.
  • Collaborate with internal and external business partners for client meetings, product development and improvement, and account audits.
  • Innovative mindset - looks for ways to improve claim efficiencies and outcomes.
  • Research & input on claim trends, claims data & interpretation & sharing of best practices/ lessons learned with Underwriting community.
  • Diligent end to end management of surety claims process in relevant internal IT systems
  • Preparation of claims data for Senior Management.

Your Profile: 

  • Legal or Economical University degree
  • 8 Years + experience in handling Surety claims and/or insurance related legal experience within Credit & Surety exposure to handling restructuring cases and claims
  • Understanding of reinsurance and insurance contracts and wordings
  • Knowledge of bonds & guarantees, SBLCs, guarantee facilities, syndicated facilities
  • Knowledge of URDG and ICC guidelines are a plus
  • Expertise with German or other European Insolvency laws & procedures
  • Financial and statistical acumen with understanding of reserving rationale and the resulting impacts
  • Detail-oriented, adaptable, and strategic in decision-making
  • Understanding of technical claims proficiency and execution of best claim practices
  • Ability to work independently, multi-task, and remain self-motivated in a fast-paced environment
  • Strong organizational skills and time management of claims desk
  • Strong business acumen and ability to collaborate with other departments and vendors 
  • Customer-service and relationship oriented
  • Proven innovative, dynamic and growth mindset
  • Strong verbal and writing skills for internal and external communication, presentations and reporting
  • Good analytical thinking, advocacy and negotiation skills.
  • Willingness to travel (up to 30%)
  • Excellent oral and written German and English skills (Spanish or Italian also preferred) 

Application Instructions

In order to consider your application, we require your application to be submitted via our online applicant portal. In addition to uploading your CV, we recommend writing a cover letter to tell us more about why the position is of interest to you.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

BePresent #BeBold #BeCurious

*Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified. 

Yamina Djurisic 
HR Consultant

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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