Associate Director, Insurance Ratings Analyst, Milan

Fitch Group; Lombardia; On-site; EUR 90,000 - 140,000; Full time

Job summary

Fitch Group in Milan is seeking an Italian-speaking Associate Director, Insurance Ratings Analyst. The role focuses on Italian insurers with flexibility across markets, handling issuer ratings and rating committee processes.

You will write reports, discuss recommendations, and contribute to research while engaging with issuers and investors. Strong English skills and a university degree are essential.

Qualifications

• Proficiency in Italian and English.
• Analytical experience of 5+ years in credit or audit.
• Educational background to first degree, actuarial/accounting/auditing qualifications.
• Strong communication and presentation skills.
• Ability to work independently and as part of a team.
• Strong knowledge of Excel and AI applications.

Responsibilities

• Monitor a portfolio of issuer ratings and prepare rating committee documentation.
• Present and discuss rating recommendations to the rating committee.
• Write and publish comprehensive rating reports on issuers.
• Participate in rating committees for insurers and other markets.
• Interact with issuers and senior management at rating meetings.
• Contribute to issuer- and sector-specific research and commentaries.
• Assist more experienced colleagues by handling external queries from investors and other stakeholders.
• Keep up to date with market developments and manage rating portfolios in response to credit events.

Skills

Languages: Italian/English

Analytical experience

Credit analysis

Communication skills

Independence

Education

University degree

Actuarial / accounting / auditing qualifications

Tools

Excel

AI applications

Job description

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Associate Director, Insurance Ratings Analyst, Milan

Requisition ID: 50878

Business Unit: Fitch Ratings

Category: Credit Analysis & Research

Location: Milan, Milan, IT

Date Posted: Oct 27, 2026

Fitch Ratings is currently seeking a Credit Analyst – EMEA Insurance – Associate Director based out of our Milan office.

About the Team

The Fitch Ratings Financial Institutions Group has actively built the agency into the global leader in insurance credit rating coverage. Our experienced analysts provide comprehensive, timely and transparent coverage of major institutions around the world, as well as unparalleled coverage of smaller companies. Our analysts offer a diversity of talent and backgrounds, with experience in regulatory oversight, counterparty analysis, auditing, investment banking, buy-side investing and more.

The Global Insurance Group is responsible for assigning and maintaining international and national credit ratings on insurance entities and their debt issues worldwide. The EMEA Insurance team employs a team of 18 credit analysts in London, Frankfurt, Paris, Madrid, Dubai and Stockholm.

How You’ll Make an Impact

We are currently looking to add an Italian-speaking Associate Director. The successful candidate’s coverage will focus primarily on Italian insurance companies, but with flexibility to cover other markets.

Primary duties will include:

• Monitoring a portfolio of issuer ratings, including the preparation of rating committee documentation.
• Present and discuss rating recommendations, ideas and facts effectively in writing and verbally to a rating committee
• Writing and publishing comprehensive rating reports on individual issuers (based on public information and management meetings with the rated entities).
• Participation in credit rating committees for assigned insurers and insurers in other markets.
• Regular interaction with contacts at issuers and liaison with issuers’ senior management at rating meetings.
• Active involvement in the publication of issuer- and sector-specific research and insightful commentaries.
• Supporting more experienced colleagues, e.g. preparing responses to external queries from investors, bankers and other stakeholders.
• Keep up to date with market/industry developments and manage your rating portfolio in response to credit events

You May be a Good Fit if You Have

• Proficiency in Italian and English are essential.
• Analytical experience (at least 5 years), ideally in credit- or audit-related fields, gained from working at a commercial/investment bank/insurance company, accountancy firm, buy-side firm, rating agency, or similar.
• Good educational background to at least a first university degree level, preferably with recognized actuarial, accounting or auditing qualifications.
• Strong analytical and reasoning capacities.
• Strong communication and presentation skills.
• Ability to work independently as well as being a good team player.
• Strong knowledge of Excel and AI applications.

What Would Make You Stand Out

• Proficiency in another language, e.g. German, French or Russian, would be helpful.
• Strong command of insurance financial statement analysis, accounting standards and solvency requirements
• The ability to cope with time pressure and work to deadlines while adhering to tight procedures.