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ZUG, Switzerland (AP) - Swiss reinsurance company Converium Holding AG said Friday it would restate its financial accounts and delay its third-quarter report because of the findings of an internal review linked to a wider industry investigation in the United States and Europe.
The company said the changes should leave its $1.65 billion capital base intact. Converium, previously known as Zurich Re, also indicated its performance in the third quarter was satisfying and it will meet its full-year targets.
The company aims to reach premiums of $2 billion in 2005 and wants to further reduce its liabilities in the United States.
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