Converium gets closer to ratings upgrade

Operating on a BBB+ rating has not affected strong half-year figures but Inga Beale still has a higher rating in sight

Standard & Poor’s has revised the outlook for Swiss-based reinsurer Converium AG to positive from stable, though the company rating remained unchanged at BBB+. Converium’s chief executive officer Inga Beale said this was a major step forward for the company, and promised to work diligently towards meeting S&P’s requirements for an upgrade. News of the improved outlook was followed by good first half year figures.