Form 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of November, 2004
CONVERIUM HOLDING AG
(Translation of registrant's name into English)
Baarerstrasse 8
CH-6300 Zug
Switzerland
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- Not Applicable
Converium Holding Ltd, Zug
Zug, Switzerland - November 11, 2004 - Paul E. Dassenko appointed as President
and CEO of Converium Reinsurance (North America) Inc.
Converium is pleased to announce the appointment of Paul E. Dassenko as
President and CEO of Converium Reinsurance (North America) Inc. effective
November 16, 2004. Mr Dassenko succeeds Corcoran Byrne who continues in his role
as General Counsel after serving as the President of Converium North America
during the interim period following Gary Prestia's resignation in September
2004.
Mr Dassenko will be responsible for developing a strategy for the orderly
run-off of Converium Reinsurance (North America) Inc., as well as an operational
plan for its effective execution. He will report to Converium's Global CEO, Dirk
Lohmann.
Mr Dassenko is an internationally recognized leader in the field of insurance
run-off. Until recently, he served as Chief Operating Officer of Cobalt RunOff
Services Limited, the Australia-based market leader in run-off services for the
Asia-Pacific region. Prior to the formation of Cobalt, Mr Dassenko was
responsible for the run-off of discontinued operations at GIO Insurance Ltd.,
following its acquisition in 1999 by AMP Ltd. Based on the profitable turnaround
of GIO under Mr Dassenko's stewardship as its CEO, AMP formed Cobalt at his
recommendation. Mr Dassenko brings a wealth of additional experience from
managing the run-off of the estate of the Transit Casualty Company. He also has
been an underwriter at American Re and Swiss Re and a broker at Tretis
Reinsurance Intermediaries.
Mr Dassenko holds a B.A. degree from Walla Walla College and a J.D. degree from
the McGeorge School of Law, University of the Pacific. He has been a member of
the California Bar since 1979.
* * * * * * *
Enquiries:
Michael Schiendorfer Zuzana Drozd
Media Relations Manager Head of Investor Relations
michael.schiendorfer@converium.com zuzana.drozd@converium.com
Phone: +41 (0) 1 639 96 57 Phone: +41 (0) 1 639 91 20
Fax: +41 (0) 1 639 76 57 Fax: +41 (0) 1 639 71 20
About Converium
Converium is an independent international multi-line reinsurer known for its
innovation, professionalism and service. Today Converium employs approx. 800
people in 20 offices around the globe and is organized into three business
segments: Standard Property & Casualty Reinsurance, Specialty Lines and Life &
Health Reinsurance. Converium has a "BBB+" rating (outlook stable) from Standard
& Poor's and a "B++" rating (outlook stable) from A.M. Best Company.
Important Disclaimer
This document contains forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. It contains forward-looking statements
and information relating to the Company's financial condition, results of
operations, business, strategy and plans, based on currently available
information. These statements are often, but not always, made through the use of
words or phrases such as 'expects', 'should continue', 'believes',
'anticipates', 'estimates' and 'intends'. The specific forward-looking
statements cover, among other matters, the reinsurance market, the outcome of
insurance regulatory reviews, the Company's operating results, the rating
environment and the prospect for improving results, the amount of capital
required and impact of its capital improvement measures, including the
restructuring of our U.S. business and its reserve position. Such statements are
inherently subject to certain risks and uncertainties. Actual future results and
trends could differ materially from those set forth in such statements due to
various factors. Such factors include general economic conditions, including in
particular economic conditions; the frequency, severity and development of
insured loss events arising out of catastrophes, as well as man-made disasters;
the outcome of our regular quarterly reserve review, our ability to raise
capital and the success of our capital improvement measures, the ability to
obtain applicable regulatory approval for our capital improvement measures, the
ability to exclude and to reinsure the risk of loss from terrorism; fluctuations
in interest rates; returns on and fluctuations in the value of fixed-income
investments, equity investments and properties; fluctuations in foreign currency
exchange rates; rating agency actions; changes in laws and regulations and
general competitive factors, and other risks and uncertainties, including those
detailed in the Company's filings with the U.S. Securities and Exchange
Commission and the SWX Swiss Exchange. The Company does not assume any
obligation to update any forward-looking statements, whether as a result of new
information, future events or otherwise.
www.converium.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CONVERIUM HOLDING AG
By:/s/ Dirk Lohmann
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Name: Dirk Lohmann
Title: CEO
By:/s/ Christian Felderer
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Name: Christian Felderer
Title: General Legal Counsel
Date: November 11, 2004