Federal Office of Private Insurance FOPI
Federal Office of Private Insurance FOPI
Beginn Inhaltsbereich
FOPI News no. 11
FOPI News no. 11 of 26 April 2007 – FOPI Decision on the Participation Intentions of Scor on Converium
FOPI has no objection, from the view of protecting policyholders, against the intended participation of the French Scor Group in Converium Holdings Ltd, which leads to an indirect capital holding of more than 20% of Converium Ltd. FOPI will take a decision on a participation exceeding the next higher thresholds of 33% and/or 50% of the capital shareholding, if and as soon as the conditions become pertinent, in order to allow such a decision to be taken.
In accordance with article 21, Insurance Supervision Law (VAG), participation intentions of an insurance entity with a registered office in Switzerland need to be communicated to the supervisory authority if, both direct or indirect participation, reach or exceed 10%, 20%, 33% or 50% of the capital and voting rights of the organisation.
Inquiries: FOPI Communication, tel. 031 325 01 65
Ende Inhaltsbereich