CONVERIUM ASIA RENEWALS UP BY 15%

Swiss reinsurer Converium has reported a 35% rise in April renewals, which are skewed towards the Asian market. In the Asia-Pacific region, renewals were up by 15% to $57m. In the Japanese market, which makes up the majority of Converium’s Asia-Pacific book, premium volume was up by 12%. Converium said that it achieved this despite a softening pricing environment and a greater degree of retention in the primary sector. In India, the book of business rose by nearly 100% “through the establishment of new client relationships in a very dynamic market environment”, Converium said.