Job Description

What if your underwriting decisions could shape the future of surety risk in one of Europe’s most dynamic markets?

With over 50 years of experience in the Italian market, Munich Re is one of the leading reinsurance companies operating in Italy. Our Italian branch operates at the forefront of innovation, delivering tailored reinsurance solutions and identifying new opportunities in a constantly evolving risk landscape.

Based in Milan, this role sits within our Specialty Lines team and offers the opportunity to work in a highly international environment, collaborating with a global network of surety and credit experts.

As a Senior Surety Underwriter, you will play a key role in managing and growing the Italian surety portfolio, combining technical underwriting expertise with strong market engagement and a strategic mindset to drive sustainable and profitable growth

Your Job

• Underwrite complex surety risks, including detailed credit assessments, financial analysis, and deal structuring in line with Munich Re guidelines
• Take ownership in supporting and steering the growth of the Italian surety portfolio, ensuring underwriting discipline, profitability, and compliance
• Continuously monitor portfolio performance, risk exposures, and trends, translating insights into actionable recommendations and strategic decisions
• Assess and manage both treaty and single risks while proactively identifying and developing new business opportunities in the Italian market
• Act as a trusted advisor to clients and brokers, contributing to client strategies and strengthening long-term partnerships
• Represent Munich Re in the market, contributing to market intelligence by identifying emerging trends, risks, and opportunities
• Collaborate closely with the global Surety & Credit network and cross-functional teams including claims, legal, compliance, and finance to deliver integrated solutions
• Contribute to internal knowledge sharing, training initiatives, and the continuous development of underwriting expertise within the organization
• Support reporting to the Home Office and ensure alignment with global underwriting standards and strategic priorities

Your Profile

• Degree in Law, Business Administration, Economics, Finance, or a related field
• 5–8 years of experience in surety underwriting (credit insurance is a plus)
• Strong understanding of surety bonds, financial analysis, and risk assessment
• Ability to assess contracts and legal/insurance wording
• Analytical mindset with a solution-oriented approach
• Client-focused, proactive, and commercially driven
• Strong communication and interpersonal skills
• Team player with a high level of ownership and accountability
• Proficiency in Excel and openness to digital tools
• Fluent business English

About us

With over 50 years of experience in the Italian market, Munich Re is one of the leading reinsurance companies operating in Italy. At Munich Re Italy, we are working to provide the best insurance solutions and pursue new insurance related opportunities for our clients.

• You will work in an environment where we think big: Change and culture are continuously role-modeled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning
• You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders
• We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn
• You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working leveraging digitalization to deliver solutions.
• Join us, and experience that we lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment.

Join us
Be part of a global leader where your expertise, ideas, and ambition will have a real impact.