Former Zurich CEO Martin Senn takes own life

Zurich’s former global CEO Martin Senn died last week after apparently committing suicide, the company has said in a brief statement.

Senn, who was 59, resigned from his role at Zurich last year after six years as CEO following a difficult period for the insurer, which saw it post higher-than-expected financial losses and announce up to 8000 job cuts across its global operations.

“It is with great shock and sadness that we must inform you of the sudden death of Martin Senn,” Zurich Insurance said in a statement on Monday 30 May. “His family informed us that Martin took his life last Friday.”

“With the passing of Martin, we lose not only a highly valued former CEO and colleague but also a close friend. Our thoughts are with his bereaved family and friends, to whom we extend our deepest sympathies.”

It is the second time in recent years that Zurich has been rocked by the suicide of a leading figure, after Chief Financial Officer Pierre Wauthier took his own life in in 2013. The company was subsequently cleared of placing inappropriate amounts of stress on Wauthier.