Converium has reported an improvement in earnings per share in its restated results.
As a result of the restatement, the company has recorded losses in earnings per share for the years 2004 and 2001, of $9.19 and $4.46 respectively, compared to losses of $12.00 and $4.61 prior to the restatement.
The 200 year saw an increased loss to $2.80 from $0.73 prior to the restatement.
The years 2003 and 2002 saw Converium report earnings per share of $2.24 and $0.45 following the restatement, compared to $2.33 and $1.34 prior to the restatement.
Years 1999 and 1998 remained unchanged at $1.46 and $2.93.
The restatement follows an internal investigation conducted by the company into a series of transactions entered into by Zurich Reinsurance, now CRNA, with MIBA in 1998.
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