Converium Holding AG was a company that primarily provided

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own ins ...

products in

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, the

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, and

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through its parent holding company and through various subsidiaries. It was founded in 1995.Yahoo Financials - Converium Holding AG Profile
/ref> The company strived to create a uniform operational and organizational model in its multi-national global offices.

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

Ratings

The company suffered a series of downgrades in 2004, despite good business performance. The company lashed out at ratings agencies saying that the downgrades "harmed our franchise". In 2007 the company was purchased by Scor. In February 2007, Converium became the target of a hostile takeover. Martin Ebner, together with the Zürcher Kantonalbank, helped the French reinsurer Scor to build up a position of almost 33 percent with a controversial option deal and contributed to Converium's management collapsing in its defensive struggle.''Turbulente Übernahme: Converium wird französisch''

10vor10 ''10vor10'' (''10 to 10'') is a current affairs programme broadcast at 21.50 every Monday to Friday evening on the German-language Swiss public television channel SRF 1. Profile According to Christian Dütschler, editorial director of ''10vor1 ...

, 10 May 2007, retrieved 11 July 2011.

References

Financial services companies established in 1995 Reinsurance companies 2007 mergers and acquisitions Insurance companies of Switzerland {{Switzerland-company-stub