Stacks of research put forth by consulting firms about the necessary qualities of a chief financial officer typically miss one that has been essential for CFOs like Endurance Specialty’s Michael McGuire in the property/casualty insurance industry.Executive SummaryWhile the top ranks of Endurance Specialty Holdings is filled with veterans of the industry, many are actually newcomers to the Bermuda company. In a recent interview, CFO Michael McGuire responds to questions about enduring the changes at the company and in the industry in recent years.
Whether McGuire was born with his “openness to change” or simply learned by adapting to his earliest jobs doing bookkeeping for small businesses as diverse as Burger King franchises and alarm companies, it’s a temperament that has served him well over his career at Endurance, where transformative changes have been accelerating since 2013.
“How you deal with change, how you manage your teams and your people through substantial change is important. Our industry is moving extremely quickly, in a variety of different ways, and making sure that we can maintain financial strength and continuity while still responding to change is, I’d say, a unique skill set,” McGuire said.