Pierre Wauthier, who had worked for the company for 17 years, was found dead at his home on Monday.
The firm’s chairman Josef Ackermann resigned yesterday, the Daily Mail reported, stating he had come under pressure to take a share of responsibility for the event.
A spokesman for Zurich told MailOnline: ‘We were informed that such a letter exists and we are aware of its content.
“It is correct that it relates to the relationship between Pierre Wauthier and Josef Ackermann but it would be inappropriate for us to further elaborate on it.
“It is a very difficult situation, especially for the families and friends of Pierre Wauthier. We all need to respect their privacy during this difficult time and we deeply regret his passing, which was completely unexpected.”
Ackermann, whose management style has been criticised by Waulthier’s widow, issued a statement this week in which he said: “The unexpected death of Pierre Wauthier has deeply shocked me. I have reasons to believe that the family is of the opinion that I should take my share of responsibility, as unfounded as any allegations might be.
“As a consequence, I see the possibility of a continued successful board leadership to the benefit of Zurich called into question.
“To avoid any damage to Zurich’s reputation, I have decided to resign from all my board functions with immediate effect.”
According to the Financial Times, tensions may have come to a head in the run up to the presentation of the company’s second-quarter results.
Zurich’s acting chairman Tom de Swaan said the tragedy had “cast a shadow over Zurich” and that the board saw its prime responsibility as investigating the context in which it took place: “Let me be absolutely clear. The board and management of Zurich take corporate culture and behaviour very seriously.
“In addition, from my own personal perspective, I am not aware of any behaviour that would be considered inappropriate in a board setting.”
