The reason why the LM337's datasheet says it can't take more than –40V at its input is only because, under short-circuit conditions (or otherwise when its output capacitor is discharged) it will have 40V across the chip (–40 at the input, 0 at the output). Under normal operation, it will only have about 5V or 10V across it.
Because the LM337 doesn't actually have a pin that connects to ground, however, we can supply it with more than –40V at its input—as long as we're careful to ensure it never has more than 40V across it. Placing a zener diode across it from its input to its output will ensure it never has more voltage than the zener will allow. For a 7.2V zener, this will obviously be 7.2V. The concern, though, is that the zener must be able to take a fair amount of power—because it may be called on to take the –55V power supply's full current, and you don't want it to break. So, get a 2W zener.
For the –50V to –40V conversion, you can place two 7.2V zeners in series for a clamping voltage of 14.4V.