During the January 2006 renewals Converium said it wrote and bound an estimated non-life premium volume of about $1.13 billion–representing a decline of less than 3 percent (at constant foreign exchange rates).

The Zug, Switzerland-based Converium said it is satisfied with the renewals. The company said in a statement that its franchise has remained “resilient and robust, despite the challenges presented by its current financial strength ratings.”

In addition, Converium observed an increasing trend of clients retaining more risk and shifting to nonproportional covers. This resulted in lower overall reinsurance market volume. An additional $410 million of non-life premium volume will be up for renewal later in 2006, according to the reinsurer. This includes life & health business. The company expects total gross premiums written for 2006 of $1.8-to-$1.9 billion.