Third Point Re has announced a leadership reshuffle, which will see Daniel Malloy take over as chief executive officer of the company’s reinsurance unit.

The Bermudian-based company, which is backed by Third Point, a US hedge fund led by Dan Loeb, said Mr Malloy would move up from chief underwriting officer to take the role.

A regulatory filing with the US Securities and Exchange Commission added that Rob Bredahl had been appointed CEO of Third Point Re USA, replacing John Berger in the role.

Mr Berger will continue to serve as chairman of the company board.

Mr Bredahl will continue to serve as CEO of the holding company. In March, Mr Berger had stepped down as Third Point Re CEO.

In addition, the company has also appointed Manoj Gupta as president of Third Point Re USA, succeeding Thomas Wafer who has stepped down from his position. Mr Gupta was promoted from executive vice-president, underwriting.

Mr Wafer has been elected as chairman of the board of Third Point Re USA.