Former Zurich Insurance CEO Jim Schiro has died aged 68.

Mr Schiro took the top job at what was then Zurich Financial Services in 2002, and is credited with returning the insurer to profitability.

When he retired from Zurich in 2009 he joined the board of Goldman Sachs.

In 2012 he became lead director and chairman of Goldman Sachs’ corporate governance, nominating and public responsibility committee.

Mr Schiro retired from Goldman Sachs in July when he was diagnosed with multiple myeloma. He died on August 13.

An American citizen, Mr Schiro was the first non-Swiss to lead Zurich.

Zurich Group has issued a statement on behalf of the board, executives and employees, describing Mr Schiro as “a wonderful colleague and a great friend”.