ZURICH, March 3 Zurich Insurance Chief
Executive Mario Greco received 7.8 million Swiss francs ($7.7
million) in compensation for 2016 after joining the company in
March last year, the Swiss insurer said in its annual report
published on Friday.
Greco was also awarded a "replacement payment" in cash and
performance shares vesting in 2019 worth 4.2 million francs to
compensate for the forfeiture of his incentive plan rights with
his previous employer, Zurich said.
Zurich, Europe's fifth-biggest insurer, is in the middle of
a major overhaul focused on streamlining and cutting costs.
($1 = 1.0121 Swiss francs)
(Reporting by Joshua Franklin)