Title:  Underwriting Lead, Surety

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.

Lead Surety Underwriter Germany

Munich Re Specialty was formed as a stand-alone division in 2023, and brings together the wider Munich Re group’s primary specialty business units. Complementing an already strong presence in the UK and the US, Munich Re Specialty – Global Markets (MRSGM) has been tasked with executing a wider plan to build a broader global footprint.

We are now seeking a visionary and experienced Lead Surety Underwriter to spearhead the development of our surety business in Germany and the broader DACH region. This is a unique opportunity to build and lead a newly created surety team, shape the regional strategy, and drive long-term growth in a high-impact leadership role.

In this multifaceted position, you will combine advanced underwriting expertise with strategic leadership. You will manage a diverse portfolio, ensure operational excellence, and represent Munich Re in the market as we establish a new chapter in the region.

Responsibilities:

1. Business Development & Strategic Leadership

• Lead the ramp-up of Munich Re’s surety operations in Germany & support in establishing a high-performing underwriting team.
• Develop and execute the strategic roadmap for the DACH region, aligning with global objectives and market opportunities.
• Identify and pursue new business opportunities, fostering relationships with brokers, clients, and industry stakeholders.
• Represent Munich Re in the market, enhancing visibility and positioning as a leading surety provider.

2. Underwriting & Portfolio Management

• Underwrite complex surety risks, including credit assessments, deal structuring, and risk analysis, in line with Munich Re’s guidelines.
• Lead and support restructuring and claims cases in collaboration with internal and external stakeholders.
• Monitor and evaluate portfolio performance, ensuring data accuracy and underwriting discipline, compliance and profitability
• Approve transactions within delegated authority or prepare referrals for higher-level approvals.

3. Strategy & Market Engagement

• Collaborate with the Chief of Staff / Head of Surety Strategy to develop and implement the local surety strategy
• Identify market trends, opportunities, and risks to inform strategic decisions.
• Monitor competitor activity and contribute to enhancing Munich Re’s market position.

4. Collaboration & Leadership

• Recruit, mentor, and lead a team of underwriters, fostering a culture of excellence and innovation.
• Work closely with cross-functional teams including claims, legal, compliance, and finance to ensure seamless service delivery.
• Contribute to internal training initiatives and knowledge sharing across the organization.
• Lead or contribute to special projects as required.

Knowledge and Skills

• Minimum 10 years’ experience in surety underwriting, credit insurance, or banking.
• University graduate or equivalent education
• In-depth knowledge of surety products, financial analysis, and risk assessment.
• Proven track record in originating, structuring, and underwriting surety transactions.
• Strong understanding of financial markets, credit risk, and capital instruments.
• Entrepreneurial mindset with the ability to develop bespoke solutions for complex client needs.
• Excellent communication, negotiation, and stakeholder management skills.
• Fluency in English and German; additional European languages (e.g. Spanish, Italian) are a plus.
• Willingness to travel and experience working in cross-cultural environments.
• Collaborative mindset with leadership qualities and the ability to work independently or as part of a team.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

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