HAMILTON, Bermuda, Nov. 11, 2024 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint”) (NYSE: SPNT), a global specialty insurer and reinsurer, has today announced changes to its Chief Underwriting Office leadership to support plans for further growth and profitability in 2025.

From January 1, 2025, Anthony Shapella will be promoted into the role of Group Chief Underwriting Officer and will join the Executive Leadership Team. David Govrin will now focus entirely on his role as Group President and Chief Executive Officer of Global Reinsurance. Mr. Govrin has held the dual role of Group President and Chief Underwriting Officer and Global Profit and Loss (P&L) Lead for Reinsurance since February 2021.

“As our business continues to grow, and we look to 2025, we believe that now is the right time to review the structure of our Chief Underwriting Office,” said Scott Egan, Chief Executive Officer at SiriusPoint. “This is part of a continuing plan to ensure our operating model is well structured for the next chapter of SiriusPoint’s journey to become a best-in-class class insurer and reinsurer.”

Mr. Egan added: “David has done an excellent job driving and leading the underwriting turnaround of our business, including recruiting, coaching, and mentoring talent in the organization. Both David and Anthony are incredibly valued members of the team, and Anthony has benefitted from David’s mentorship since he joined the business 15 months ago. We value the opportunity to promote talent from within our organisation and are pleased that Anthony will lead our Chief Underwriting Office as David continues to focus on executing our plans to further grow SiriusPoint’s reinsurance offering.”

“I am extremely proud of the underwriting track record we have delivered over the last eight quarters through our focused and disciplined underwriting,” said Mr. Govrin. “Anthony has been a great addition to the CUO office and is well positioned to lead the underwriting organization and continue our progress to deliver long-term profitable growth. Anthony will be a fantastic addition to our executive team. I am excited to be able to focus 100% on our important and growing reinsurance business, which has been a large contributor of our profitability over the last two years.”

Mr. Shapella joined SiriusPoint in September 2023 as Deputy Chief Underwriting Officer. Previous to that he was at AIG as Head of Portfolio Analytics, General Insurance.

“I am delighted to have been given the opportunity to join the Executive Leadership Team and be promoted to Group Chief Underwriting Officer,” said Mr. Shapella. “I would like to thank David for his mentorship and leadership of the Chief Underwriting Office, and I am excited by the opportunities ahead.”

About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm, and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators. With over $3.0 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and A3 from Moody’s. For more information, please visit https://www.siriuspt.com/.

Forward-Looking Statements
We make statements in this press release that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, the impact of general economic conditions and conditions affecting the insurance and reinsurance industry; the adequacy of our reserves; fluctuation in the results of operations; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; uncertainty of success in investing in early-stage companies, such as the risk of loss of an initial investment, highly variable returns on investments, delay in receiving return on investment and difficulty in liquidating the investment; the costs, expense and difficulties of the integration of the operations of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations; trends in insured and paid losses; regulatory and legal uncertainties; and other risk factors described in SiriusPoint’s Annual Report on Form 10-K for the period ended December 31, 2023.  Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events, or other circumstances after the date of this press release.

Contacts

Investor Relations
Liam Blackledge, SiriusPoint
Liam.Blackledge@siriuspt.com
+44 203 772 3082

Media
Sarah Hills, Rein4ce
sarah.hills@rein4ce.co.uk
+44 7718 882011