Alterra chief executive of reinsurance and board member John Berger has resigned.

The Bermudian reinsurer said in a statement Berger is leaving to “pursue a new opportunity”.

Alterra announced former president of Alterra Reinsurance USA, Tom Wafer will be Berger's replacement. Wafer previously held the position of managing director of International Underwriting for Harbor Point Re and New Point Re in Bermuda.

Marty Becker, president and CEO of Alterra, said: "As the chief executive officer and president of Harbor Point since its inception in 2005, and before that as a founder of Chubb Re, John has earned a well-deserved reputation as a fine leader in our industry, and we wish him the very best in his new endeavors.”