A.M. Best Comments on the Ratings of Converium AG.OLDWICK, N.J. -- A.M. Best Co. has commented that all ratings of Converium AG (Switzerland) remain unchanged following today's publication of the company's first quarter 2005 results. The reported net loss for the quarter of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 61.8 million is somewhat higher than A.M. Best anticipated as a result of a USD 40 million net loss relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the commutation of retrocessional contracts. The company has continued to suffer reserve deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. for prior year losses (USD 10.4 million), mainly in respect of its casualty business written in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , but within the level anticipated by A.M. Best. The company will continue to be closely monitored. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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