Third Point Re CEO to step down, US leadership shuffled
Third Point Re CEO Robert Bredahl has resigned from his position with immediate effect, with Daniel Malloy, current CEO of the company’s main operating subsidiary, succeeding him on an interim basis.
Based in Bermuda, Malloy will take on the role of CEO from May 10 onward, and Third Point Re’s board of directors will seek to identify one or more external candidates who, along with Malloy, will be considered as permanent CEO going forward.
"After many years of working with Dan, we are thrilled that he is taking on this new role. A proven leader with a strong track record of success and deep expertise across all aspects of the business, he is exceptionally well qualified to take the company to its next phase of development and growth," said board chairman Joshua Targoff.
Malloy has been an executive at Third Point Re since its inception in 2012. He has over 38 years of reinsurance experience. Prior to Third Point Re, he co-led the specialty lines practice groups at Aon Benfield. Prior to that he was president and a board member of Stockton Reinsurance in Bermuda.
Furthermore, senior promotions have been made at Third Point Re’s US subsidiary, TPRE USA. David Govrin has been appointed as president, succeeding Manoj Gupta, who is no longer with the company. David Drury has been made executive vice president, global head of property catastrophe reinsurance.
Govrin has over 30 years of reinsurance and banking experience, most recently serving as executive vice president, underwriting and head of business development for TPRE USA.
Prior to TPRE USA, Govrin was vice president in Berkshire Hathaway's Reinsurance Group.
Drury has over 25 years of reinsurance experience, and most recently served as senior vice president, underwriting, at TPRE USA.
Prior to that, Drury spent 18 year at Chubb in a number of senior roles, including chief underwriting officer of Chubb Tempest Re Group.
Malloy commented: "We are very pleased that Mr Govrin and Mr Drury have agreed to lead the TPRE USA operations as we grow our business, including our new property catastrophe portfolio. They are leaders with substantial breadth of experience in reinsurance, and I am confident they will continue with the positive trajectory of the US Subsidiary that has started under Manoj's tenure."