Zurich CEO General Insurance Mario Greco has been recruited to run Italy’s Generali Group after Generali CEO Giovanni Perissinotto’s sudden departure.

Zurich Group CEO Martin Senn will run general insurance until Mr Greco has been replaced.

“While I deeply regret his departure, I fully understand and support his decision,” Mr Senn said. “I wish him the very best both from a business and personal point of view.”

Mr Greco joined Zurich in October 2007 and was appointed CEO Global Life in April 2008. He became CEO General Insurance in July 2010.