Converium Announces Changes in Global Executive Committee

February 2, 2007

Swiss-based reinsurer Converium announced the following changes to its Global Executive Committee:
— Jakob Eugster joins Converium as Executive VP for Standard P/C Reinsurance.
— Benjamin Gentsch, Executive VP for Specialty Lines, assumes additional responsibility for Life & Health Reinsurance.

Eugster, a new member of the Company’s Global Executive Committee, replaces Frank Schaar who will leave Converium. Eugster, 52, a Swiss citizen, most recently served as Managing Director of Benfield Germany, based in Munich. He accepted the position in 2002, following a 27 year career at Swiss Re in Zurich.

Gentsch, 46, a Member of Converium’s Global Executive Committee and Executive VP for Specialty Lines, replaces Christoph Ludemann who is also leaving the Company. He will assume the additional responsibility for the Company’s Life & Health business.

Inga Beale, CEO, commented: “I would like to thank Christoph Ludemann and Frank Schaar for their valued contributions to Converium over the years and, more recently, to the successful turnaround. I wish Christoph and Frank every success in their future endeavors.

“I am delighted that Jakob Eugster is joining Converium as the new leader of our Standard Property & Casualty business. Jakob has worked for more than three decades in the reinsurance industry with an impressive track record. His vast experience and proven skills will be invaluable for Converium in achieving our ambitious targets for profitable growth.”

“I am also very pleased that Benjamin Gentsch has agreed to assume an expanded role within our leadership team. Based on his in-depth market knowledge and previous experience in Life & Health reinsurance Benjamin and his team will identify and capture growth opportunities in existing and new Life & Health markets and products. In addition, he will continue to focus on developing our global specialty book of business.”

Topics Reinsurance

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