Swiss daily «blick.ch» reported the news on Monday, citing the executive's family. The loss of prestige and influence had hit Martin Senn hard. An acquaintance said Senn had suffered from depression recently.

He was ousted as head of Zurich late last year in a shake-up at the insurer. Senn's apparent suicide follows that of Pierre Wauthier, who in 2013 also committed suicide, blaming then-Zurich chairman Josef Ackermann for creating an intolerable work environment.

More to come.