Let's Get Surety #166 The Corner Office: A Conversation With Dave Pesce of Munich Re Specialty - North America
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Aug 25, 2026 David Pesce, Head of Surety at Munich Re Specialty - North America with ~40 years in surety and CCIFP credentials. He recounts a career detour from astronaut hopeful to surety leader. Topics include launching a primary surety platform, talent and trainee programs, remote-first underwriting, co-surety vs shared risk, private equity indemnity issues, and growth in infrastructure and renewables.
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From NASA Offer To A Surety Career
- David Pesce unexpectedly entered surety after a NASA astronaut offer evaporated following the 1986 shuttle incident.
- He applied to Seaboard in June 1986 with a math major and finance minor and began a 40-year surety career.
How CCIFP Saved A $6 Million Claim
- David Pesce used CFMA involvement to teach contractors about surety and led the CCIFP certification effort.
- He credits the CCIFP with helping him avoid a $6 million claim by improving contractor financial insight.
Munich Re Built Primary Surety From Scratch
- Munich Re Specialty North America launched a primary surety unit to balance its global reinsurance portfolio and pursue specialty wholesale lines.
- Building the operation required board approvals, POA forms, systems and infrastructure beyond underwriting.