Munich Re Specialty is entering the Italian primary specialty insurance market, its fifth European country launch in as many years, with first risks expected to be underwritten in early 2027, but the product mix marks a shift from how the reinsurer built out its two most recent markets.

Italy will launch with Construction & Engineering, Property and Surety insurance from day one. That differs from Germany's April 2025 entry, which began with Construction & Engineering, Property and Renewable Energy, with surety only added as a subsequent expansion alongside Spain. Leading with surety in Italy suggests Munich Re Specialty now sees stronger immediate demand for that line than for renewable energy in a new market, at least in Italy's case.

Saverio Longo (pictured left), appointed managing director for Italy, joins after more than 20 years in the Italian commercial insurance market, most recently as country manager at Zurich Global Corporate/Commercial Insurance and, before that, AXA XL Italy, giving Munich Re Specialty a leader with direct prior relationships at two of the rival insurers it will now compete against locally. Gian Luca Migliorini (pictured right) joins as head of underwriting for Italy.

As with Spain's 2025 entry, the Italian operation will run through the existing Italian branch of Great Lakes Insurance SE, Munich Re's fully owned primary insurer, with Milan chosen as headquarters and new roles to be created locally. Longo will join Munich Re Specialty's European executive team under Silvi Wompa Sinclair, CEO of Global Markets, Europe.

Wompa Sinclair credited three years of "close broker partnerships and purposefully placing underwriting talent" for the pace of the wider European rollout, calling Italy's demand for surety, property and construction cover a natural next step for the business.

For brokers with Italian construction, property or surety placement needs, or clients with Italian operations, the practical detail is timing: first risks aren't expected until early 2027, giving brokers time to build relationships with Longo's team well before capacity actually becomes available.