Ratings agency AM Best said the financial strength rating for Converium Holdings remained unchanged at A (excellent) following the publication of its fourth quarter results. The outlook remains stable.
For the three months ending 31 December 2003, gross written premiums were down 1.5% to $1bn.
Profits also fell for the fourth quarter when compared with 2002, down 30.4% from $80.8m to $56.2m.
Gross written premiums for the full year were up 19.5% to $4.23bn from a figure of $3.53bn for 2002.
Full year profits were increased by three quarters, reaching $185m compared with $106m for 2002.
