Project Infrastructure Finance Underwriting Associate

Are you passionate about finance and eager to build a career at the intersection of project finance and insurance? This is your opportunity to join a pioneering team, develop deep expertise in credit analysis and underwriting, and make a real impact on some of the world's most complex infrastructure transactions. If you thrive in a collaborative environment and are hungry to learn, we want to hear from you!

About the Role

As an Associate Underwriter within our Project and Infrastructure Finance team, you will contribute to the analysis and evaluation of infrastructure and project finance transactions while developing your underwriting and credit risk expertise. Working side by side with Senior Underwriters, you will gain hands-on experience across the full lifecycle of project finance deals — from initial credit analysis through to transaction execution and ongoing portfolio management. This is a fantastic opportunity for someone looking to grow their career in a dynamic environment with a truly global reach.

Key responsibilities

• Assessment of project finance transactions and preparation of credit underwriting memoranda. This would include: 
  • Analysis of market, business profile, and technical aspects;
  • Review of cash flow models including scenario analysis;
  • Review of financing agreements;

• Review and execution of transaction documentation.

• Portfolio management tasks, including:
  • Updating deal information;
  • Analysis of the existing portfolio;
  • Analysis of industry trends;
  • Reviewing performance of existing transactions.

You will be expected to contribute to business-related projects on a case-by-case basis.

About the Team

The Project and Infrastructure Finance team is part of the Credit and Surety division within Corporate Solutions. Established over 18 years ago, we hold the distinction of being the first credit underwriting team in the insurance market to specialise in Project and Infrastructure Finance. Our team combines deep technical expertise with a collaborative culture, working on some of the most complex and rewarding transactions in the market. We are a close-knit group that values curiosity, continuous learning, and a shared commitment to excellence. Joining us means becoming part of a team that has shaped the industry — and continues to push its boundaries.

About You

You are curious, financially minded, and eager to develop your expertise in one of the most specialised areas of credit underwriting. You bring a collaborative spirit, a proactive attitude, and a genuine enthusiasm for learning. You are comfortable working with complex information, can communicate your analysis clearly and confidently, and thrive in a fast-paced, detail-oriented environment. Whether you are early in your career or bringing some relevant experience, what matters most is your drive, your curiosity, and your commitment to growing within the role.

We are looking for candidates who meet these requirements:

• Interest in project and infrastructure finance — understanding of how project finance transactions are structured, including familiarity with key financing documentation and contractual frameworks
• Experience or academic exposure to infrastructure sectors such as energy, telecom, transport, utilities, or social infrastructure
• Familiarity with insurance markets, particularly credit products
• Strong written and verbal communication skills, with the ability to present complex analysis in a clear and concise manner to senior stakeholders
• Experience working in a cross-functional or international environment, demonstrating adaptability and cultural awareness

Our company has a hybrid work model where the expectation is that you will be in the office at least three days per week. #LI-Hybrid

For Italy the annual base salary range for this position is between EUR 33 000 and EUR 55 000 (for a full-time role). The specific salary offered considers:

• the requirements, scope, complexity and responsibilities of the role,
• the applicant's own profile including education/qualifications, expertise, specialisation, skills and experience.

In addition to your base salary, Swiss Re offers an attractive performance-based variable compensation component, designed to recognise your achievements. Further you will enjoy a variety of global and location specific benefits. Eligibility may vary depending on the terms of Swiss Re policies and your employment contract.