NU Online News Service, Sept. 7, 7:59 p.m. – Zurich Financial, Zurich, says it will spin off its reinsurance unit Zurich Re into a $ 4 billion entity.

Zurich Financial says Zurich Re and all of its offices worldwide will operate after the separation under the brand name Converium. The company did not clarify the future of U.S. fund management arm Scudder Investments, New York.