UPDATE 1-Zurich Insurance says CFO Pierre Wauthier found dead
(Adds background details)
ZURICH Aug 26 (Reuters) - Zurich Insurance Group said on Monday its chief financial officer (CFO), Pierre Wauthier, had been found dead at his home in the Swiss canton of Zug, just over 30 kilometres (20 miles) from Zurich.
The Swiss insurer said in a statement that police were investigating the circumstances of Wauthier's death, and that no further details had been disclosed.
Wauthier, a French and British citizen born in 1960 who held masters degrees in international finance and private law, began his career at KPMG, later working at the French foreign ministry and at U.S. bank JPMorgan. He joined Zurich in 1996 and became CFO in October 2011.
Group controller Vibhu Sharma will replace Wauthier as CFO on an interim basis.
A spokesman for the Zug police could not be reached for comment.
Earlier in August the group said it would be hard pressed to meet certain performance targets after posting a 27 percent fall in second-quarter net profit due to natural disaster payouts which topped those of European rivals because of its high exposure to the United States.
Last year, a reassessment of the German operation's loss reserves drove down net profit by $400 million after the unit failed to set aside enough money to cover "long tail" liabilities - claims that can be made years after policies have expired. (Reporting by Martin de Sa'Pinto; Editing by Louise Ireland and David Evans)
- Putin dissolves state news agency, tightens grip on Russia media
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters want power now |
- Record cold, ice grip U.S.; more snow to blanket East
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'