Dr. Jurgen Forterer, CEO of R+V Versicherung, Wiesbaden, has resigned from the Board of Directors of Converium Holding Ltd. effective September 29, 2004.
A company bulletin said his decision is directly related to the Group’s announcement that it will “focus on small and medium-sized clients in Europe” in the future (see IJ Website Sept. 29).
Forterer explained that the decision would lead to direct competition with the reinsurance business of R+V Versicherung. In order to avoid any conflict of interest he has decided to step down from his position as a member of Converium’s Board.
Forterer has been a Board member since Converium’s Initial Public Offering, and the company expressed its thanks for “his valuable contributions.”
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