Bermuda-based reinsurance company Third Point Reinsurance Ltd. said Thursday that CEO Robert Bredahl has resigned from the company and will be replaced by long-term company management Daniel Malloy.
Mr. Malloy's meeting comes into force on May 10 and is approved by Bermuda's Foreign Ministry, said the third point in a statement.
"As part of a long-term planning process, the Board plans to evaluate the company's leadership and try to identify one or more external candidates who, together with Mr. Malloy, will be regarded as permanent CEO in the future, the company says in the statement.
Mr. Malloy , 59, has been managing director since the company was founded in 201
With more than 38 years of experience within The reinsurance industry worked Mr. Malloy at Aon Benfield in 2003, where he led the special education groups, said the statement.
Earlier, he was president and a board member of Bermuda-based Stockton Reinsurance Ltd. in 1998-2003 and also served as president of Center Re Bermuda, where he worked 1993-1998, the company said.