Zurich Financial Services has appointed a chief executive, ending months of uncertainty over the group's leadership.
Jim Schiro, previously chief executive of PricewaterhouseCoopers, was promoted to chief executive of the embattled Swiss group. He joined Zurich in March and does not have an insurance background.
Markus Granziol, chairman of investment bank UBS Warburg, has been appointed a non-executive director at the group.
Zurich's UK chief executive was a contender for the position, according to insiders
Zurich has been seen as vulnerable since investors started losing confidence in Rolf Huppi, who dominated the company for a decade. He stood down after a number of profit warnings led to a $387m (£266m) loss last year.