ZUG, Switzerland, March 7, 2006 (PRIMEZONE) -- Converium Holding Ltd announced today that it has agreed in principle to sell its shareholdings in Nordic Aviation Insurance, a general aviation insurance company based in Denmark, Nordic Aviation Insurance underwrites throughout the Nordic and Baltic regions. Completion of this sale is subject to certain conditions being met, including approval by the FSA, the regulatory authority in Denmark.
About Converium
Converium is an independent international multi-line reinsurer known for its innovation, professionalism and service. Today Converium employs about 600 people in 18 offices around the globe and is organized into four business segments: Standard Property & Casualty Reinsurance, Specialty Lines and Life & Health Reinsurance, which are based principally on ongoing global lines of business, as well as the Run-Off segment, which primarily comprises the business from Converium Reinsurance (North America) Inc., excluding the U.S. originated aviation business portfolio. Converium has a "BBB+" rating (outlook stable) from Standard & Poor's and a "B++" rating (outlook stable) from A.M. Best Company.