Converium has reported an improved quarterly performance with net income of $62.5m compared with $46.9m in the prior-year period.
The company also reported a non-life combined ratio of 99.8%.
Inga Beale, chief executive said: "The results reflect the profitable execution of our North American run-off and commutation strategy, favorable prior-year developments and a solid underlying underwriting performance."
"Converium continues to regain strength and stability, as recognized by Standard & Poor's in their recent assignment of a positive outlook on our ratings. This is a major step forward for us and augurs well for the future. We will continue to work diligently towards meeting Standard & Poor's requirements for an upgrade at the earliest possible date."
