Converium on the mend in 1Q despite 13% premium fall
European reinsurer Converium continued its steady recovery, posting a combined ratio of 94.8% and income of $71.1m on gross written premiums of $655.3m for the first quarter of 2006. The firm also increased shareholders’ equity and posted annualised returns of 14.9%.
The quarter saw a net positive impact of prior accident years on the technical result of $12.4m due to progress in Converium’s North American run-off and commutation, which led to a total reduction of
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