Zurich hires Generali’s Greco as CEO to drive overhaul
January 27, 2016 by JAN-HENRIK FÖRSTER, SONIA SIRLETTI, JEFFREY VÖGELI
(Bloomberg) — Zurich Insurance Group AG hired Assicurazioni Generali SpA’s Mario Greco as chief executive officer, giving him the task of turning around the company, after losses in its general insurance business forced the Swiss insurer (parent company of U.S.-based Farmer Insurance) to abandon a takeover bid.
Greco, 56, will start on May 1, the Zurich-based company 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 company where he was employed for five years before joining Generali. His experience at Zurich includes stints heading up global life as well as the non-life unit. He had been shortlisted for the top job when Martin Senn was promoted in 2010, people with knowledge of the matter said at the time.
