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Senior Surety Underwriter Italy (m/f/d*) - Munich Re Specialty Global Markets (MRS-GM)

Location Milan, Italy Job type Full-Time Work mode Hybrid Job level Professional Job ID 13220 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Claims & Underwriting
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Are you ready to shape the future of surety underwriting in Italy?

About Us

At Munich Re Specialty – Global Markets (MRS-GM), our ambition is 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.

Senior Surety Underwriter Italy

Munich Re Specialty was formed in 2023 as a stand-alone division, bringing together the wider Munich Re Group’s primary specialty business units. With strong foundations in the UK and the US, MRS-GM is expanding its footprint across key European markets.

As part of this growth, we are seeking a **Senior Surety Underwriter – Italy** to support the ramp-up of our surety business in the Italian market.

This is a unique opportunity to contribute to the development of a new business platform, working closely with the Head of Surety Underwriting Italy and key stakeholders. You will underwrite complex risks, support portfolio development, and help establish Munich Re as a trusted partner in the Italian surety market.

This role will suit a hands-on, market-facing professional who thrives in an entrepreneurial environment and enjoys taking ownership of transactions while contributing to the growth of a new business line.

Responsibilities

Underwriting & Risk Analysis

  • Originate, structure, and underwrite complex surety risks, including credit assessments, deal structuring, and financial analysis in line with Munich Re guidelines. 
  • Independently manage international bonding transactions and ensure alignment with underwriting standards. 

Portfolio Development

  • Support the growth of the Italian surety portfolio, monitor performance, and ensure underwriting discipline, compliance, and profitability. 

Claims & Restructuring

  • Collaborate with internal and external stakeholders to manage restructuring and claims situations effectively. 

Market Engagement

  • Represent Munich Re in the Italian market, building strong relationships with brokers, clients, and industry stakeholders. 
  • Contribute to identifying market trends, opportunities, and emerging risks. 

Contract & Governance

  • Conduct independent reviews of contract and bond wordings to ensure compliance with internal standards. 
  • Approve transactions within delegated authority or prepare referrals for higher-level approval. 

Collaboration & Execution

  • Work closely with the Head of Surety Underwriting Italy and cross-functional teams including claims, legal, compliance, and finance. 
  • Support internal training initiatives and knowledge sharing across the organization. 
  • Contribute to strategic initiatives and projects during the ramp-up phase. 

Conduct & Values

  • Uphold high standards of integrity, professionalism, and customer focus in line with regulatory expectations. 

Knowledge and Skills

  • 5–8 years’ experience in surety underwriting, credit insurance, or banking. 
  • Strong knowledge of surety products, financial analysis, and credit risk assessment. 
  • Proven experience in originating, structuring, and underwriting surety transactions. 
  • Good understanding of financial markets, credit risk, and capital instruments. 
  • Entrepreneurial mindset with the ability to develop tailored solutions for complex client needs. 
  • Hands-on, proactive approach with the ability to work both independently and collaboratively. 
  • Excellent communication, negotiation, and stakeholder management skills. 
  • Fluency in English and Italian; additional European languages are a plus. 
  • Willingness to travel and work in an international and cross-cultural environment. 

If you are motivated to play a key role in building Munich Re’s surety presence in Italy, we would be delighted to hear from 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.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow 

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

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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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