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Converium healthy.
(From Insurance Day)
Byline: Adrian Ladbury
CONVERIUM, the multiline reinsurance company, published healthy second-quarter 2003 numbers on Thursday that showed good increases in profits, premiums and capitalisation against 2002.
The unlikely pairing of the jovial American-German Dirk Lohmann, group chief executive, and the ice-cool Swiss chief financial officer Martin Kauer should be congratulated on a job well done so far.
In 18 short and frantic months following the initial public offering, Converium has established a global brand out of the ashes of the old Zurich reinsurance operation.
Mr Kauer is presenting a suitably modest face. Converium could not have chosen a better time to launch.
It may have been unlucky to catch the September 11 tragedy so soon, but it was very lucky to benefit from the subsequent dramatic upturn in rates and sad demise of the Gerling reinsurance business.
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