Converium is pleased to announce the nomination of Dr Markus Dennler and Rudolf Kellenberger to stand for election as new members of its Board of Directors

3/22/2005, 6:59 AM (Source: GlobeNewswire)
Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Zug, Switzerland - March 22, 2005

Dr Markus Dennler, former Chief Executive Officer of Credit Suisse
Group's Life & Pensions business, and Rudolf Kellenberger, former
Deputy Chief Executive Officer of Swiss Re, will run for election as
members of Converium's Board of Directors for a three-year term of
office. Named elections will take place at the Company's upcoming
Annual General Meeting on April 12, 2005 in Zug, Switzerland.

Markus Dennler provides many years of managerial experience in
banking and insurance as well as extensive expertise in risk

Rudolf Kellenberger brings with him an in-depth knowledge of the
reinsurance business combined with vast managerial experience at
Swiss Re.

Converium believes that having Markus Dennler and Rudolf Kellenberger
on the Company's Board of Directors can not only significantly
strengthen the Board but also Converium's expertise in its core areas
of business.

Converium is very pleased about the agreement of Messrs Dennler and
Kellenberger to stand for election.


Markus Dennler served in a series of positions within the Credit
Suisse Group, most recently as a member of the Executive Board of
Credit Suisse Financial Services and as Chief Executive Officer
responsible for the global operational Life & Pensions business.
Prior, he was a member of the Corporate Executive Board of Winterthur
Insurance (subsidiary of Credit Suisse Group). Markus Dennler studied
law at the University of Zurich and graduated in 1982. He received
his doctorate degree in 1984 and was admitted to the Bar of Zurich in
1986. Further he attended the International Bankers School in New
York and the Harvard Business School (AMP) in Boston. Currently he is
a member of the Board of Directors of Swissquote Group and a
councillor of the British-Swiss Chamber of Commerce.

Rudolf Kellenberger served as Deputy Chief Executive Officer of Swiss
Re from April 1, 2000 until the end of 2004. In this function he
dedicated much of his time to tasks within the Corporate Center, in
particular in the field of Management Development and E-Business
Development. Previously, he served in a series of positions within
Swiss Re's Executive Board assuming responsibilities for the Northern
European reinsurance sector and Special Lines and, as of July 1998,
taking on the leadership of Swiss Re's then newly founded Europe
division. Rudolf Kellenberger studied civil engineering at the
Federal Institute of Technology (ETH), Zurich, graduating in 1970. He
is a member of the Board of Directors of Swiss Life.

* * * * * * *

Esther Gerster Zuzana Drozd
Head of Public Relations Head of Investor Relations

Phone: +41 (0) 1 639 90 22 Phone: +41 (0) 1 639 91
Fax: +41 (0) 1 639 70 20
22 Fax: +41 (0) 1 639 71

About Converium

Converium is an independent international multi-line reinsurer known
for its innovation, professionalism and service. Today Converium
employs more than 700 people in 20 offices around the globe and is
organized into three business segments: Standard Property & Casualty
Reinsurance, Specialty Lines and Life & Health Reinsurance.
Converium has a "BBB+" rating (outlook stable) from Standard & Poor's
and a "B++" rating (outlook stable) from A.M. Best Company.

Important Disclaimer

This document contains forward-looking statements as defined in the
U.S. Private Securities Litigation Reform Act of 1995. It contains
forward-looking statements and information relating to the Company's
financial condition, results of operations, business, strategy and
plans, based on currently available information. These statements are
often, but not always, made through the use of words or phrases such
as 'seek to', 'expects', 'should continue', 'believes',
'anticipates', 'estimates' and 'intends'. The specific
forward-looking statements cover, among other matters, the
reinsurance market, the Company's operating results, the rating
environment and the prospect for improving results. Such statements
are inherently subject to certain risks and uncertainties. Actual
future results and trends could differ materially from those set
forth in such statements due to various factors. Such factors include
general economic conditions, including in particular economic
conditions; the frequency, severity and development of insured loss
events arising out of catastrophes, as well as man-made disasters;
the ability to exclude and to reinsure the risk of loss from
terrorism; fluctuations in interest rates; returns on and
fluctuations in the value of fixed-income investments, equity
investments and properties; fluctuations in foreign currency exchange
rates; rating agency actions; changes in laws and regulations and
general competitive factors, and other risks and uncertainties,
including those detailed in the Company's filings with the U.S.
Securities and Exchange Commission and the SWX Swiss Exchange. The
Company does not assume any obligation to update any forward-looking
statements, whether as a result of new information, future events or

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WKN: 766465 ; ISIN: CH0012997711; Index: SMCI, SPI, SMIEXP, SMIM,
Listed: Main Market in SWX Swiss Exchange;
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