GRECO APPOINTED AS ZURICH CHIEF EXECUTIVE

Mario Greco has been confirmed as the new chief executive of Zurich, following a period of intense speculation that he was going to join the insurance giant from Generali. Greco replaces Martin Senn, who stepped down in December after six years as the Swiss insurer’s chief executive. Senn's resignation came after Zurich's general insurance business reported an operating loss of $183m for the third quarter, on the back of a $275m loss from the Tianjin explosion in China and poor performances by its North America and Global Corporate businesses. Tom de Swaan, Zurich’s chairman who has held the chief executive role on an interim basis since Senn’s departure, said Greco held “the rare combination of entrepreneurial spirit, deep industry knowledge and proven chief executive experience that anchored our search for Zurich’s next leader”. Greco had spent five years with Zurich prior to joining Generali as chief executive in 2012. He joined Zurich in October 2007 as the designate chief executive for Global Life. In 2010, he was appointed chief executive for general insurance, a role he held until his departure from the company in 2012.