Head of Surety Underwriting – Spain Growth Leader

Munich Re Group; Madrid; On-site; EUR 120,000 - 190,000; Full time

Job summary

Munich Re Specialty – Global Markets is seeking a seasoned Head of Surety Underwriting Spain to establish and grow its surety business in Spain. You will shape local strategy, build and lead the underwriting team, and represent Munich Re in the market as we expand our portfolio.

You will work closely with senior stakeholders, drive underwriting discipline, and pursue profitable growth while managing cross- border relationships and regulatory considerations.

Qualifications

• Minimum 10 years’ experience in surety underwriting, credit insurance, or banking.
• University graduate or equivalent education.
• Fluency in English and Spanish; additional European languages (e.g. German or Italian) are a plus.
• Strong knowledge of surety products, financial analysis, and credit risk assessment.
• Proven track record in originating, structuring, and underwriting surety transactions.
• Strong understanding of financial markets, credit risk, and capital instruments.
• Entrepreneurial mindset with the ability to develop tailored solutions for complex client needs.
• Excellent communication, negotiation, and stakeholder management skills.

Responsibilities

• Lead ramp-up of Munich Re’s surety operations in Spain.
• Develop and execute the regional strategy aligned with Munich Re Specialty’s broader global objectives.
• Identify market opportunities and establish Munich Re as a key player in the Spanish surety market.
• Build, mentor, and lead a high-performing underwriting team.
• Represent Munich Re in the market, strengthening relationships with brokers, clients, and industry stakeholders.
• Underwrite complex surety risks and oversee risk analysis and transaction approvals.
• Collaborate with cross-functional teams to ensure seamless service delivery and margin discipline.

Skills

Surety underwriting

Credit risk

Financial analysis

Origination & structuring

Stakeholder management

English & Spanish fluency

Leadership

Education

University graduate or equivalent

Job description

Munich Re Specialty – Global Markets is seeking a seasoned Head of Surety Underwriting Spain to establish and grow its surety business in Spain. You will shape local strategy, build and lead the underwriting team, and represent Munich Re in the market as we expand our portfolio.

You will work closely with senior stakeholders, drive underwriting discipline, and pursue profitable growth while managing cross- border relationships and regulatory considerations.