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.
Legal Counsel
We are currently looking for a Legal Counsel to be based in Madrid on a full-time basis, reporting into the Head of Legal and Compliance.
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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.
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We are looking for an experienced Legal Counsel for our Madrid office with expertise in the Spanish primary specialty insurance market on a full time permanent basis with hybrid working.
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As Legal Counsel in Spain, you will be acting as trusted advisor to our Spanish business and in particular our underwriters by providing advice on regulatory matters as well as contractual aspects, acting as a wording specialist and ensuring compliance with regulatory requirements as well as internal (underwriting) norms. In addition, you will have the unique opportunity to advise and shape the business and strategy early on and together with a multi-jurisdictional team help to steer the European expansion project.
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Close collaboration with the Great Lake Insurance SE Legal team (as insurance carrier) will be required. In addition, all employees are expected to assist the wider Munich Re Group in their area of expertise.
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This role requires a proactive, commercial-minded legal professional, with deep knowledge of Spanish insurance laws and regulatory requirement as well as an understanding of the general European legal frameworks and European insurance / regulatory law and proven ability to work in fast-paced, cross-border environments.
Responsibilities:
You will become a trusted advisor to the (Spanish) business and advise on a broad variety of legal aspects in the primary insurance market. Your core responsibilities will focus on the following areas:
Insurance regulatory
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Advise on local and European regulatory aspects (Solvency II, IDD, EIOPA statements, etc).
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Assist with structural advice for the European Expansion project as well as licensing aspects.
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Handle regulatory notifications and other communication with the Spanish supervisory authority.
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Advise on corporate governance and corporate law aspects.
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Review and advice on outsourcing agreements (intragroup and external).
Business enabler
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Products and underwriting support
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Wordings advice for commercial and product teams (draft wordings, coverage questions, endorsements, notice of cancellations)
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Advice on primary insurance programs (incl. multinational).
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Draft and review reinsurance agreements and reinsurance certificates.
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Assist in ensuring related governance processes (alignment with underwriting guidelines, new product guidelines etc).
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Advice on insurance distribution related agreements (drafting and negotiating distribution and broker agreements, NDAs, delegated authorities (incl TPAs) etc).
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Assist claims on coverage questions or consultation in complex claims litigation.
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Manage complaints responses together with operations team.
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Assist compliance team on complex sanctions queries.
Dispute Management and Litigation
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Manage and advise in relation to legal disputes, litigation (other than claims) and investigations.
General Advisory and Commercial
- General commercial contracts and intragroup arrangements.
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Liaise with experts across the Munich Re Group (sanctions, antitrust, DP).
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Provide training, develop template contracts and share relevant knowledge across the business and or (other) legal function.
Knowledge and Skills
- Spanish qualified lawyer with admission to the bar and minimum 5 years' experience since admission. Dual qualifications welcome.
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Significant experience in the Spanish primary specialty insurance business (private practice and at least one year in-house).
- Comprehensive understanding of regulatory requirements in the Spanish (and European) primary insurance and insurance distribution industry. Strong expertise in wordings and coverage topics as well as commercial and corporate law.
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Excellent communication skills in Spanish and English (further languages welcome); ability to gain the confidence of senior business stakeholders and peers.
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Effective time-management skills and ability to juggle multiple tasks and priorities.
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Commercial awareness and experience balancing commercial opportunity with corporate risk.
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Spanish law degree.
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
