Converium on watch

By Peta Miller, London

STANDARD & Poor’s has put Converium’s ratings on negative watch after the Zurich spin-off announced a third quarter loss, writes Peta Miller, London. The action affects the single A plus long-term counterparty credit and insurer financial strength ratings of Converium, Converium Reinsurance and Converium Rückversicherung, as well as the triple B plus long-term counterparty credit and senior unsecured debt ratings of Converium Holdings, which together make up the Converium group.