Former Zurich CEO commits suicide

Martin Senn is the second Zurich executive to take his own life in the last three years Keystone

The former Chief Executive of Zurich, Martin Senn, has taken his own life, months after leaving the insurance and financial services company. His death on Friday follows the suicide of another top Zurich executive three years ago.

Senn spent ten years at Zurich, six of them as CEO until the 59-year-old abruptly left the firm on December 1 last year.

“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,” the company said in a statement.

Senn began his distinguished career in Swiss financial services with SBV bank, the forerunner to UBS, 26 years ago in Hong Kong. He later worked at Credit Suisse before switching to Zurich.

His death is the second such tragedy to befall Zurich within three years.

In August 2013, Zurich’s Chief Financial Officer Pierre Wauthier also committed suicide. Wauthier’s death led to the resignation of group chairman Josef Ackermann, although a subsequent review cleared him of responsibility for the suicide.

Also in 2013, Carsten Schloter, CEO of the state-owned telecoms company Swisscom, took his own life.