By Sophie Roberts

April 14 - (The Insurer) – In a recent interview, David Govrin, group president and CEO of reinsurance at SiriusPoint, highlighted the pivotal role of culture in the company's recent transformation.

Following a period of significant reshaping, Govrin emphasized that the company's renewed culture has become a cornerstone of its success, enabling SiriusPoint to attract top talent and foster a collaborative work environment.

"It's very, very hard to change a company without focusing on the culture," Govrin stated, underscoring the importance of leadership and clear communication in driving change.

“Leadership, not only the CEO, but the executive leadership, the senior leadership team, it all flows down,” he added.

“So, we have spent an enormous amount of time the last couple years, on the on the culture of the company. And I think that comes through loud and clear, certainly internally, but I think it also comes through externally, with our stakeholders, with clients and brokers.”

At the start of this year, Govrin’s role shifted from group president and group chief underwriting officer to group president and CEO of global reinsurance.

With this strategic shift, Govrin will dedicate more time to the reinsurance unit, an area where he sees significant growth potential.

"Reinsurance has always been a key theme within my 36 years," Govrin noted, expressing excitement about furthering the momentum and profitability within this sector.

Looking back at 2024, SiriusPoint delivered impressive results with a strong performance in both group and reinsurance sectors.

The reinsurance division achieved an 88% combined ratio, contributing $124 million to the company's $200 million underwriting income. These achievements set a solid foundation for growth in 2025, as the company continues to focus on executing its strategic plans without major changes to the reinsurance portfolio.

“2024 was another strong year for the company, from a group and reinsurance performance perspective,” said Govrin.

“And I think it continues the demonstration of the track record that we're building; the track record that we're building on performance, and the track record that we're building on executing, doing what we say and what we're going to do,” he added

Govrin also addressed the impact of the California wildfires in January and broader implications of climate change on the industry.

While acknowledging the significant losses, he emphasized the need for the industry to adapt to increasing frequency and severity of such events.

"The industry is always one large event away from a different conversation," he remarked, stressing the importance of pricing risk appropriately in light of climate change.

Watch the full interview with SiriusPoint’s David Govrin to hear more on: leadership; culture; business performance and growth; and the impact of climate change on nat cat events.