Skip to main content
Get Job Alerts Saved Jobs View All Jobs

Senior Underwriter, Surety

Location Frankfurt am Main, Germany Job type Full-Time Work mode Hybrid Job level Professional Job ID 10307 Company Munich Re Specialty - Global Markets Employment type Regular Area of expertise Claims & Underwriting
Apply Now

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.  

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

Please see our website for more information.

Senior Surety Underwriter Germany

Munich Re Specialty was formed as a stand-alone division in 2023, and brings together the wider Munich Re group’s primary specialty business units. Complementing an already strong presence in the UK and the US, Munich Re Specialty – Global Markets (MRSGM) has been tasked with executing a wider plan to build a broader global footprint.

We are seeking a hands-on and experienced Senior Surety Underwriter to support the development & growth of our surety business in Germany and the broader DACH region. This is a unique opportunity to contribute to the ramp-up of a new business, working closely with the Lead Underwriter and other stakeholders to help establish Munich Re’s presence in the region.

This role calls for a proactive mindset, strong technical underwriting skills, and a willingness to go above and beyond during the ramp-up phase. You will underwrite complex surety risks, support portfolio development, and represent Munich Re in the market.

Responsibilities:

Underwriting & Market Engagement

  • Origination & underwriting of complex surety risks, including credit assessments, deal structuring, and risk analysis, in line with Munich Re’s guidelines.
  • Support restructuring and claims cases in collaboration with internal and external stakeholders.
  • Assist in monitoring portfolio performance and ensuring underwriting discipline and compliance.
  • Support the execution of the regional strategy and contribute to business growth in the DACH markets, taking ownership of assigned transactions.
  • Independently manage international bonding transactions, ensuring alignment with underwriting standards.
  • Represent Munich Re in the market, fostering strong relationships with brokers, clients, and industry stakeholders.
  • Contribute to identifying market trends, opportunities, and risks to inform underwriting decisions.
  • Conduct independent reviews of contract and bond wordings to ensure compliance with internal guidelines.
  • Approve transactions within your delegated underwriting authority or prepare referrals for higher-level approval when required.

Collaboration & Execution

  • Work closely with the Lead Underwriter and cross-functional teams including claims, legal, compliance, and finance.
  • Support internal training initiatives and knowledge sharing across the organization.
  • Demonstrate a hands-on mentality and willingness to go above and beyond during the ramp-up phase.
  • Contribute to special projects as required.

Knowledge and Skills

  • Minimum 5-8 years’ experience in surety underwriting, credit insurance, or banking.
  • University graduate or equivalent education
  • In-depth knowledge of surety products, financial analysis, and risk assessment.
  • Proven track record in originating, structuring, and underwriting surety transactions.
  • Understanding of financial markets, credit risk, and capital instruments.
  • Entrepreneurial mindset with the ability to develop bespoke solutions for complex client needs.
  • Hands-on, proactive mindset with the ability to work independently and collaboratively.
  • Excellent communication, negotiation, and stakeholder management skills.
  • Fluency in English and German; additional European languages (e.g. Spanish, Italian) are a plus.
  • Willingness to travel and experience working in cross-cultural environments.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

#BePresent #BeBold #BeCurious

Apply Now

Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

Explore Location

This may interest you

Featured Jobs

View jobs to show jobs list.

Save jobs to show jobs list.

View All Jobs

Activate your job alert

Looking for the ideal professional challenge? Stay informed with the Munich Re Group job alert service: Munich Re, ERGO Group and MEAG offer a wide range of opportunities. Once you have set up the service, you'll receive automatic email updates on new job vacancies that match your search criteria.

Interested InPlease select a category, location, and/or company option. Click “Add” to create your job alert. You can add more than one combination to your alert.

By signing up, I acknowledge that I have read the privacy policy, and I wish to receive email communications.

To complete the Job Alert, your e-mail address, and the filter criteria you selected will be processed. The processing of the data is exclusively for the purpose of sending the Job Alert e-mails. With deletion of the Job Alert, your data will also be deleted. You can find further information about our imprint here: Privacy Policy.