Munich Re Specialty announces entry into the Italian primary specialty insurance market

• Munich Re Specialty intends to provide solutions to a range of clients from Small to Medium sized enterprises, Mid-Market and Upper Mid-Market clients in Italy, with first risks insured in early 2027.
• The business will offer Construction & Engineering, Property and Surety insurance products to primary specialty clients as a first step.
• Entrance comes as the next stage of Munich Re Specialty’s European strategy, aligning to Munich Re Group’s Ambition 2030 goals.
• Saverio Longo appointed as Munich Re Specialty’s Managing Director for Italy.

Munich Re Specialty today announces it will offer commercial solutions in the Italian primary specialty insurance market. Built on a long-standing presence in the UK and Ireland, and following the commencement of its operations in the Spanish and German primary specialty mid-market, this announcement marks the next stage and expansion of Munich Re Specialty’s European strategy.

Munich Re Specialty’s new offering in Italy will launch with its well-established product lines of Construction & Engineering, Property and Surety insurance. This matches what is already available to its commercial primary specialty insurance clients in Spain and Germany.

Saverio Longo has been appointed to lead day-to-day operations as Munich Re Specialty’s Managing Director for Italy. Saverio, an executive of 20 years with underwriting and distribution experience, has previously held senior roles with global insurers as a country manager for Italy. In his new role, he will be tasked with driving profitable growth and fostering key relationships among primary specialty brokers and clients. In addition, Gian Luca Migliorini joins Munich Re Specialty as Head of Underwriting, Italy. Saverio Longo will join the Munich Re Specialty – Global Markets’ European executive team led by Silvi Wompa Sinclair, CEO.

To enable the extension of its presence in the commercial primary specialty insurance market, Munich Re Specialty and its employees will operate under the existing Italian branch of Great Lakes Insurance SE, Munich Re’s fully owned primary insurer, known for its strength in delegated authority and complex risks.

To support Munich Re Specialty’s work to capture local market opportunities for Construction & Engineering, Property and Surety insurance, new roles will be created in Italy. The business has chosen the city of Milan as its headquarters.

Silvi Wompa Sinclair, CEO of Munich Re Specialty – Global Markets, Europe, said: “Expanding Munich Re Specialty into Italy, the fifth country of our European journey, is a milestone to celebrate. The abundance of potential clients within our market segment strategy and their demand for Surety, Property and Construction insurance make Italy an exciting next step. We have successfully scaled our growth ambitions over the past three years by fostering close broker partnerships and purposefully placing underwriting talent in close proximity to market needs.”

• Saverio Longo has more than 20 years’ experience in the Commercial/Corporate insurance market in Italy, having previously worked with Zurich Global Corporate/Commercial Insurance Italy as Country Manager and AXA XL Italy as Country Manager/Branch Manager, with a background both in distribution management and underwriting.