"This organizational structure will be more efficient than the previous structure," Mr. Greco, 56, said a telephone conversation with reporters on Friday last week. "This move helps save costs, but we need to determine the exact number and we're not ready to do that today." Greco took over control of Zurich in March after three years of operating the largest insurance company in Italy, Assicurazioni Generali SpA. Martin Senn, who defeated Greco during the controversy of Zurich as CEO in 2012, resigned in December last year after the loss of compensation business unit has forced life insurance corporation to abandon an acquisition of UK insurer RSA insurance Group Plc. Mr. Senn has just committed suicide last month.
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