Munich Re Specialty has announced plans to expand into Italy’s primary specialty insurance market, following its recent expansion into Spain and Germany. The business will offer commercial solutions across construction and engineering, property and surety.

Saverio Longo has been appointed managing director for Italy. He has more than 20 years of experience in Italy’s commercial and corporate insurance market, including senior roles with Zurich Global Corporate and Commercial Insurance Italy and Axa XL Italy. Gian Luca Migliorini has joined as head of underwriting, Italy.

Munich Re Specialty will operate through the existing Italian branch of Great Lakes Insurance SE, Munich Re’s wholly owned primary insurer. It plans to create new roles and establish its Italian headquarters in Milan.

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.”

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