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Greco, an insurance-industry veteran, hasn’t yet been formally chosen and his appointment needs the approval of Zurich’s board. (AP Photo/Steffen Schnidt)

(Bloomberg) — Zurich Insurance Group AG will appoint Mario Greco, the head of its Italian rival Assicurazioni Generali SpA, as chief executive officer, Swiss newspaper SonntagsZeitung reported, without saying how it got the information.

While Greco, an insurance-industry veteran, hasn’t yet been formally chosen and his appointment needs the approval of Zurich’s board, the CEO of Italy’s biggest insurer is the only name on the final shortlist, SonntagsZeitung said, citing an insider. The Swiss insurer will make the appointment no later than its annual media conference, the newspaper said. The conference will be held on Feb. 11, according to Zurich’s website.

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