Third Point Reinsurance Ltd. President and CEO J. Robert Bredahl succeeded John Berger as CEO of subsidiary Third Point Reinsurance (USA) Ltd., effective Aug. 3.

Bredahl kept his parent company-level positions, but stepped down as CEO of another subsidiary, Bermuda-based Third Point Reinsurance Co. Ltd. Daniel Malloy, chief underwriting officer, replaced him.

Berger is staying on as Third Point Reinsurance Ltd. chairman.

Manoj Gupta, executive vice president for underwriting, was promoted to president of Third Point Re (USA). Gupta replaces Thomas Wafer, who became chairman of the unit's board.