Martin Senn News

Zurich’s New CEO Greco Reorganizes Company, Simplifying Structure

Zurich Insurance AG’s new chief executive officer, Mario Greco, is shaking up the largest Swiss insurer after an unexpected jump in claims last year forced it to abandon a takeover and prompted his predecessor’s exit. Zurich is merging its biggest …

Executive Suicides Shock Swiss Business Community

An unusual number of suicides by top executives in Switzerland has prompted introspection in its business community over how senior managers are dealing with stress as its companies struggle to retain their status in the global economy. The death last …

Senn, Ex-CEO of Zurich Insurance, Commits Suicide

Former Zurich Insurance boss Martin Senn has committed suicide six months after leaving the company under a cloud, a tragedy that comes less than three years after Zurich’s finance chief took his own life. Senn, 59, shot himself at his …

Zurich Chairman Predicts Improved Results; New CEO Greco Reviews Strategy

Zurich Insurance Group AG will see improving results this year after taking steps to cut costs and overhaul units following unexpected losses at its general insurance unit, according to Chairman Tom de Swaan. “The implementation of these measures is going …

Zurich Needs Clear, Simple Strategy to Rebuild Investor Trust: New CEO Greco

Zurich Insurance Group AG needs a clear and simple strategy to rebuild investor confidence as the company tries to turn around its struggling general insurance unit, said Mario Greco, the firm’s new chief executive officer. “We need to rebuild the …

Zurich Insurance’s Ex-CEO Senn Received Remuneration of $6.3M in 2015

Zurich Insurance paid Martin Senn, its former CEO, 6.1 million Swiss francs ($6.3 million) during 2015, down from 7.2 million Swiss francs ($7.9 million) in 2014, the company reported. (The Swiss franc to U.S. dollar conversions were calculated by Zurich). …

Risk Accumulation Aggravated Zurich’s Tianjin Port Explosion Losses: Chairman

Zurich Insurance Group AG is fixing how it detects risks after miscommunication among units aggravated losses from a port explosion in China last year, Chairman and acting Chief Executive Officer Tom de Swaan said. “There was accumulation of risk there, …

Update: Zurich Reports 4Q Loss of $424M, vs. Profit of $860M in Q4 2014

Zurich Insurance Group AG reported a worse-than-expected loss in the fourth quarter as the company makes plans to turn around its unprofitable general insurance unit. The net loss was $424 million compared with a profit of $860 million a year …

Zurich Prepared to ‘Walk Away From Some Risks’ to Improve Performance

Zurich Insurance Group AG is “prepared to shrink” some of its businesses after being caught off guard by the scale of claims it had to absorb last year, according to Cecilia Reyes, the company’s chief risk officer. “We were surprised, …

Generali Shares Drop on Greco’s Decision to Join Zurich as CEO

Assicurazioni Generali SpA dropped to the lowest since July 2013 after Chief Executive Officer Mario Greco said he was leaving the Italian insurer to head Zurich Insurance Group AG. Generali, which has yet to announce a replacement, closed 1.3 percent …