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Allied World Agrees To Buy Converium Insurance NA

Financial terms of the transaction, which is expected to close in the first quarter of 2008, were not disclosed. Following the closing, it is anticipated the company will be renamed Allied World Reins

By Caroline McDonald | Updated on December 11, 2007

Bermuda-based Allied World Assurance Company Holdings, Ltd said today that its U.S. unit has entered into an agreement to purchase Converium Insurance (North America) Inc., based in Fort Lee, N.J.

Financial terms of the transaction, which is expected to close in the first quarter of 2008, were not disclosed. Following the closing, it is anticipated the company will be renamed Allied World Reinsurance Company.

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