Converium

Converium Holding AG primarily provided reinsurance products in Europe, Asia, the Middle East, and Latin America through its parent holding company and through various subsidiaries. It was founded in 1995.[1] The company strived to create a uniform operational and organizational model in its multi-national global offices.[2]

Products

It offered a variety of life and non-life reinsurance lines including most standard liability products and some special liability products including worker's compensation. It also offered many life and health insurance lines.[1]

The company maintained an alliance with the Medical Defence Union to support their business concerns.[1]

Ratings

The company suffered a series of downgrades in 2004, despite good business performance.[3] The company lashed out at ratings agencies saying that the downgrades "harmed our franchise".[4]

In 2007 the company was purchased by Scor and maintains partial sovereignty through its hub-management (matrix) organisation with heads in Paris, Zurich, Cologne, London, New York and Singapore.

References

  1. 1 2 3 Yahoo Financials - Converium Holding AG Profile
  2. ↑ Julie Gallagher (2003), "Bridging IT Globally", Insurance & Technology
  3. ↑ Charles E. Boyle (2004), "European Insurance Summit 2004 Offers Some Words to Live By", Insurance Journal
  4. ↑ Cyril Yuohy (2004), "Summit spat: Converium fires back at agencies", Risk & Insurance

External links


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