Munich Re Specialty has received regulatory approval to provide commercial insurance solutions in the German primary specialty market.
The move adds to the company’s established operations in the UK and Ireland, as well as its entry into Spain on April 1. The development is part of Munich Re Specialty’s ongoing strategy to expand its presence across Europe.
The initial portfolio in Germany will cover construction & engineering, property, and renewable energy insurance. These lines are already available to commercial clients in Spain. Additionally, both the German and Spanish operations will introduce surety as a new product line, with Julia Kromer appointed as chief underwriting officer for surety.
To facilitate its expansion, Munich Re Specialty has established a German MGA branch of Munich Re Risk Solutions Ireland Limited, which is authorised to operate in the country. The branch will place business through Great Lakes Insurance SE, Munich Re’s fully owned and BaFin-regulated primary insurer. The arrangement will operate alongside Hansekuranz, a wholly owned MGA of Munich Re and part of Munich Re Specialty – Global Markets, Europe.
Munich Re Specialty plans to create new roles in Germany to support its primary specialty business and intends to open an office in Frankfurt. The location will complement Munich Re’s existing presence in Munich and Hansekuranz’s office in Münster.
José David Jiménez García (pictured above) has been named managing director to oversee Munich Re Specialty’s primary business activities in Germany. With three decades of experience in the insurance sector, Jiménez García will focus on business growth and strengthening relationships with brokers and clients. He will report to Silvi Wompa Sinclair, CEO of Munich Re Specialty – Global Markets, Europe.
“The extension of our presence and the development of new business lines is an important next step for the growth plans of Munich Re Specialty,” Wompa Sinclair said.
She noted that Germany is “the largest and deepest insurance market in continental Europe,” and highlighted the significance of expanding into a market familiar with the Munich Re brand.
In a related development, Munich Re’s North America Life division is preparing for a leadership transition, as president and CEO Mary Forrest is set to retire in the first quarter of 2026. The company has named Marc-Andre Giguère and Bernard Naumann as successors to oversee the US, Canada, and Caribbean operations.
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