(Bloomberg) -- Zurich Insurance Group AG is seeking to replace Chief Executive Officer Martin Senn after third-quarter losses forced it to abandon its bid for Britain’s RSA Insurance Group Plc, according to a Swiss business magazine.

Switzerland’s biggest insurer has hired the London firm MWM Consulting to conduct the search, Swiss business magazine Bilanz reported Thursday on its website, without saying where it got the information. Zurich Insurance declines to discuss the report, said Riccardo Moretto, a spokesman.

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