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The Japan Times
WORLD EYE REPORTS
SWITZERLAND |
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©THE JAPAN TIMES
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Saturday, October 18, 2003
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New name for a trusted partner
Converium, a Swiss reinsurance company with 22 offices worldwide and $3.32 billion in premiums written in 2002, has become a leading force globally. And in Japan, home to the world’s second largest insurance market, Converium has been a reliable partner to insurers for nearly four decades.
Converium is a new name; the company was formerly called Zurich Re. And despite corporate restructuring, long term continuity has been a key element for building its Japanese business. According to Coverium’s CEO, Benjamin Gentsch: “Everyone, from the underwriters to myself and even our chairman has maintained contacts with the insurance industry in Japan. This continuity is part of the Converium identity.”
Simon Maerklin, client relationship manager for Japan, stresses Converium’s strong customer relationships: “This is a market where the concept of collaboration is essential. We understand the workings of the local market.”
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 Benjamin Gentsch (left), chief executive officer, and Simon Maerklin, client relationship manager for Japan, outside the Converium office in Zurich |
With Japan currently reinsuring 5 percent of its total premium, Gentsch believes the market’s reinsurance potential is huge. “From an overall economic point of view,” he points out, “if a disaster were to cause extensive damage in Japan it would be important to have capital inflow from a foreign reinsurance company.” Through its liaison office in Tokyo, Converium provides underwriting for property, catastrophe, casualty, marine, credit and surety, engineering, and aviation reinsurance.
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