Converium’s results in 2004

The Swiss reinsurer published its first figures for the year 2004, which clearly show a net loss of 760.8 million USD. The Asian Tsunami-related losses have been revised upwards, reaching 154.5 million USD. Converium closed the 2004 year with a 118.2% non-life ratio against 97.9% in 2004, and plans further administrative expenditure reductions.