(Bloomberg) -- Martin Senn, the Zurich Insurance Group AG chief executive officer who stepped down in a December reshuffle, has committed suicide, the company said in a statement on Monday. He was 59.

The family informed Zurich Insurance that Senn had taken his own life on Friday, according to the statement. "We are profoundly shocked by the news of the sudden death," the company said.

Senn was found in his holiday house in Klosters, a Swiss ski resort, Blick newspaper reported. The cantonal police of Grisons wouldn’t confirm the death but said officers had been deployed on Friday in connection with Senn.

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‘Huge Loss’


“This is a huge loss; Martin Senn was an amazing person,” said Martin Naville, CEO of the Swiss-American Chamber of Commerce, where Senn had served as president. “Human beings are hard to understand but we have to accept his decision.”

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