SiriusPoint Ltd. (NYSE: SPNT) announced a reorganization of its business structure into four divisions as part of what the company describes as the next phase of its evolution.

The Bermuda-based specialty underwriter will operate through three globally focused profit and loss centers: Global P&C Programs, Global Reinsurance, and Global Accident & Health, plus a London Market Specialty division that includes Lloyd's operations.

The company will merge its existing North America and International Programs businesses into a single Global P&C Programs division under Patrick Charles as Global Head of P&C Programs. The London Market Specialty division will encompass the company's London Casualty, Energy, Property, and Marine operations under David Govrin, who will serve as President while maintaining his role as CEO Global Reinsurance.

"These changes are a natural evolution of SiriusPoint as we build on the significant progress made over the past three years," said Scott Egan, Chief Executive Officer, according to the company's press release.

As part of the restructuring, Rob Gibbs will depart the company. The Global Reinsurance and Global Accident & Health businesses will remain unchanged under the new structure.

SiriusPoint operates with over $3 billion in total capital and maintains financial strength ratings of A from Fitch, A- from AM Best and S&P, and A3 from Moody's. The company has offices in New York, London, Stockholm and other locations.