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Converium Holding AG

Company Information
Address Baarerstrasse 8
6300 Zug
Country Switzerland
Phone +41 (0) 1 639 90 22
Business Sector Insurance
Brief Overview Converium is a global lead reinsurer for all major lines of nonlife and life reinsurance. The Company is a Spin off of Zurich Financial Services Group.
Chief Executive Officer Dirk Lohmann
Chief Financial Officer Martin A. Krauer
Chairman of the Board Terry G. Clarke
Auditors PricewaterhouseCoopers, Zurich
No. of Employees 800
Going Public
Exchange Swiss Exchange
IPO Date December 11, 2001
Share Identification Number 1299771
Symbol CHRN
Subscription Period 11,20,2001 to 12,10,2001
Lead Underwriter UBS Warburg
Underwriters Merill Lynch International, Banc of America Securities Limited, Fox-Pitt, Kelton, Schroder Salomon Smith Barney.
Price Range 72 to 90
Total No. of Shares in Issue after Going Public 40,000,000
No. of Offered Shares 35,000,000
Greenshoe 5,000,000
Total No. of Issued Share (inkl. Greenshoe) 100%
Lock Up for Holders of Non-Issued Shares Zurich Financial Services and Converium's executive officers and directors: 270 days.
Firm Offer Price CHF 82
Expected Market Cap. CHF 3,280 Mio.
First Day Close CHF 82
Numbers (in 1000 USD)
Last Fiscal Year End Date Prior to Going Public December 31, 2000
Change Compared to Prior Year
Turnover 2000
2,150,500 25.5%
Turnover 1999
1,713,900 8%
Turnover 1998 1,586,500
Change Compared to Prior Year
Profit Before Tax 2000
Profit Before Tax 1999
98,400 -44.8%
Profit Before Tax 1998 178,300
Change Compared to Prior Year
Company Profit 2000
Company Profit1999
57,800 -50.3%
Company Profit 1998 116,300
Company Profit 2000 reflects -1.4 % of Turnover
Company Profit 1999 reflects 3.4 % of Turnover
Company Profit 1998 reflects 7.3 % of Turnover
Equity on Last Balance Date 1,088,400
Total Assets 8,321,300
Ratio of Equity to Total Capital on Balance Date 13.1 %
Last Return on Equity (ROE) -2.7 %