Case History

Converium's common stock was listed on the SWX Swiss Exchange in Zürich, Switzerland, from 11 December 2002 to 30 May 2008. Before 11 December 2001, Zurich Financial Services Ltd (hereinafter: "ZFS") was the sole shareholder of Converium.

In the period from October 2002 through September 2004, the market price of Converium's common stock declined substantially after Converium made various public announcements that it needed to increase its financial reserves for reinsurance coverage it had issued.

In July 2010, the Stichting Converium Securities Compensation Foundation (hereinafter: the "Foundation") and Vereniging VEB NCVB (hereinafter: "VEB") entered into separate settlement agreements with Converium and ZFS, respectively (hereinafter referred to jointly as the "Agreements"), for the benefit of all Non-U.S. Exchange Purchasers.

On 9 July 2010, the Foundation, VEB, Converium, and ZFS jointly filed a petition with the Amsterdam Court of Appeal, in The Netherlands (hereinafter: the "Court"), and on 1 October 2010 an amended petition, to have the Agreements declared binding on the basis of the petition of 1 October 2010 (hereinafter: the "Petition") on all Non-U.S. Exchange Purchasers pursuant to Article 7:907 of the Dutch Civil Code (Burgerlijk Wetboek).

By Court Order of 12 November 2010, the Court pronounced in a provisional judgment that it is competent to take cognizance of the request in the joint Petition of 1 October 2010 and, furthermore, decided that interested parties may present their arguments in a statement of defense or at the oral hearing of the Petition if they so desire.

On 3 October 2011, the oral hearing on whether the Settlement Agreements should be declared binding took place before the Court of Appeal in Amsterdam, the Netherlands.

On 17 January 2012, the Amsterdam Court of Appeal declared the Settlements Agreements binding that the Stichting Converium Securities Compensation Foundation ("the Foundation") and Vereniging VEB NCVB ("VEB") have entered into with SCOR Holding (Switzerland) AG ("Converium") and Zurich Financial Services ("ZFS") respectively. The Settlement Agreements provide for compensation to eligible Non-U.S. Exchange Purchasers of Converium common stock. In the judgment, the Amsterdam Court of Appeal confirms its earlier provisional judgment on jurisdiction. The decision means that the Foundation, VEB, Converium and ZFS have been successful further to their petition to the Amsterdam Court of Appeal to declare these Settlement Agreements binding. The judgment of 17 January 2012 can be downloaded from this website.

Further to the provisions of the Settlement Agreements, notice of the binding declaration was sent to all known Non-U.S. Exchange Purchasers. The notice sets out how, and before what date, Non-U.S. Exchange Purchasers who do not wish to be bound by the Settlement Agreements, must submit an opt-out request. The notice also refers to the claim form which must be timely filed with the claims administrator in order for a Non-U.S. Exchange Purchaser to be eligible to participate in the proceeds of the Settlements.. Both the notice and the claim form can be downloaded from this website. After the relevant dates for filing opt-out requests and for filing claim forms have passed and claims processing has been completed, the net settlement amounts will be distributed pursuant to the terms of the Settlement Distribution Plan. The Settlement Agreements and the Settlement Distribution Plan can be downloaded from this website.