Wednesday, July 6, 2016

Zurich Names Generali’s Greco as CEO, with venture of driving Turnaround



Zurich insurance group AG employed Assicurazioni Generali SpA’s Mario Greco as chief government officer, giving him the project of turning around the company, after losses in its general coverage business forced the Swiss insurer to desert a takeover bid.

Greco, fifty six, will begin on might also 1, the Zurich-based totally business enterprise said in a statement on Tuesday. Generali said earlier in the day that Greco wasn’t planning to serve another term.

Greco returns to the enterprise wherein he become hired for 5 years before joining Generali. His enjoy at Zurich includes stints heading up global life in addition to the non-existence unit. He have been shortlisted for the top task whilst Martin Senn turned into promoted in 2010, human beings with information of the matter stated at the time.

“His intimate knowledge of our business enterprise and our industry and his tune file as a leader make him a completely unique candidate for the position,” Tom de Swaan, Zurich’s chairman, stated within the statement.

Senn stepped down Dec. 1 after Zurich’s non-lifestyles unit published a 3rd-area loss that pressured the employer to abandon a takeover bid for RSA coverage group percent. Its problems deepened later in December while 3 storms pummeled parts of britain, Scotland and ireland. thousands of houses had been flooded, main the corporation to warn shareholders closing week that it expects a 2d immediately quarterly loss in general coverage.

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