Munich Re appoints Benhalima as Manager Structuring within Global ILS Solutions team

Munich Re, the German headquartered global reinsurance giant, has appointed property treaty underwriting specialist Lisa Benhalima as a Manager Structuring within its Global Insurance Linked Securities Solutions team.

While Munich Re is a large traditional reinsurance company and at this time does not utilise particularly significant amounts of third-party or alternative capital for its own retrocession, it has long had a specialism in structuring and arranging insurance-linked securities deals for clients.

From structuring catastrophe bonds and marketing them to investors, to designing bespoke risk transfer solutions that enable clients to tap into sources of institutional capital, Munich Re has always had dedicated specialists that can assist its own capital markets retrocessional needs (when it has them) and support clients in accessing sources of ILS capacity.

Lisa Benhalima has worked at the reinsurance company since 2022, having joined as a graduate trainee and specialised in underwriting property treaty reinsurance across the UK and Nordics.

She quickly became first a junior underwriter and then an underwriter, still focused on treaty reinsurance for the same regions.

Now, in a LinkedIn communication, Benhalima has revealed her move into the insurance-linked securities business at Munich Re, becoming a Manager Structuring in the Global ILS Solutions team this month.

She explained, “Insurance-linked securities sit at a unique and increasingly dynamic intersection of underwriting and capital markets and I’m excited to contribute to structuring solutions that connect insurance risk with alternative capital in a client minded and impactful way.

“Over the past four years in Property Treaty Underwriting for the UK and Nordic markets, I have had the opportunity to build a strong foundation in underwriting, risk assessment, pricing and modelling. Working closely with clients and brokers has enhanced my understanding of the world of reinsurance and allowed me to establish a strong understanding of the needs of our clients. This has significantly shaped my underwriting approach from risk selection to signing, as well as my broader understanding of portfolio construction.

“I’m excited to apply my underwriting experience in the dynamic world of ILS and continue building on it in a new context.”