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EXHIBIT 1.3

ARTICLES

of

INCORPORATION

of



---

CONVERIUM HOLDING AG



---

with registered office in Zug

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|I. |  | Name, Registered Office, Duration and Purpose
|-- |  | ---------------------------------------------

Art. 1

Name, Registered Office and Duration

Under the name

Converium Holding AG

Converium Holding SA

Converium Holding Ltd.

there exists a corporation with registered office in Zug. The duration of the
Company is unlimited.

Art. 2

Purpose

The main purpose of the Company is to acquire, hold and to manage
participations. Furthermore, it may, in Switzerland and abroad, carry out
finance and management transactions and render related services of any kind and
set up branches and subsidiaries in Switzerland and abroad.

The Company may acquire, hold and sell real estate in Switzerland and abroad.

The Company may grant, sell and acquire licenses and intellectual property
rights.

The Company may do any other business and take any steps that seem to be
suitable to support the purpose of the Company or that are in a context with
the purpose of the Company.

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|II. |  | Share Capital
|--- |  | -------------

Art. 3

Share Capital

The share capital of the Company amounts to CHF 400062170 and is dived into
40006217 registered shares with a par value of CHF 10 each. Each share is
fully paid up.

Art. 3a

Contingent Share Capital for the Participation of Employees

The share capital will be increased by the issue of a maximum of 3993783
fully paid up registered shares of CHF 10 nominal value each amounting to a
maximum of CHF 39937830 through the exercise of option or conversion rights
which were granted to the members of the Board of Directors and to the
employees of the Company or one or more of its subsidiaries. The subscription
right of the shareholders with respect to these shares is excluded.

The placement of the option or conversion rights can be made through the
Company or one of its subsidiaries or through one or more banks, which
subscribe for these rights as trustees and may, to the extent useful for
administrative reasons, exercise these rights. The advance subscription right
of the shareholders is excluded. The terms and conditions of the option or
conversion rights are to be determined by the Board of Directors on the basis
of the market conditions prevailing at the time of the issue.

Art. 4

Membership Rights, Book-entry Shares, Conversion

The share capital is neither represented by a global certificate nor by other
certificates, individual shares or documented in any other form. The
shareholders are not entitled to demand the issue of any share certificate.

The membership rights are transferred by way of assignment. The same shall
apply to the establishment of a usufructuary. Such an assignment shall not be
valid unless notified to the Company. If shares are kept in book-entry form by
a bank on behalf of a shareholder, such shares may be transferred through such
bank only and may only be pledged to such bank by way of a written pledge
agreement. A notification of the Company is not required.

Registered Shares may be converted into bearer shares and bearer shares may be
converted into registered shares at any time by an amendment of the Articles of
Incorporation resolved upon by the General Meeting of Shareholders.
Furthermore, shares may be combined into shares of a

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greater nominal value or
divided into shares of a smaller nominal value by an amendment of the Articles
of Incorporation.

Art. 5

Share Register

The Company shall maintain a share register showing the name, first name,
residence, address and nationality (in case of legal entities the registered
office) of the holders and usufructuaries of the shares. The Company will
recognize shareholders and usufructuaries of shares only if they are registered
in the share register. The Company accepts only one representative per share.

Upon request, acquirers of shares are registered in the share register as
shareholders with the right to vote provided they declare explicitly to have
acquired the shares in their own name and for their own account. The Board of
Directors is authorized to grant exemptions from this provision in connection
with the trading of shares on foreign markets; e.g. the registration of
nominees in connection with the establishment of an ADR-program.

The Board of Directors is authorized to register such nominees as shareholders
with voting rights up to a maximum of 5% of the nominal share capital of the
Company. Over this limit of 5% the Board of Directors is authorized to register
nominees as shareholders with voting rights only if the respective nominee
discloses the name, address and the share holdings of the persons for their
account he holds 0.5% or more of the nominal share capital of the Company. The
Board of Directors shall enter into agreements with such nominees with regard
to disclosure requirements, the representation of such shares, and the exercise
of the respective voting rights.

After having heard the party concerned, the Company may cancel entries in the
share register in case these entries result from incorrect information of the
acquirer. The acquirer must be informed immediately about the cancellation of
the registration.

III.      Organization of the Company

Art. 6

Corporate Bodies

The Corporate Bodies of the Company are:

A.     The General Meeting of Shareholders

B.     The Board of Directors

C.     The Auditors

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A.      The General Meeting of Shareholders

Art. 7

Competencies

The General Meeting of Shareholders is the supreme body of the Company.

The following powers shall be vested exclusively to the General Meeting of
Shareholders:



| | a) |  | to adopt and to amend the Articles of Incorporation;                                                                                                                                                                                                          
| | -- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | b) |  | to elect and to dismiss the members of the Board of Directors and the
auditors, as well as the additional auditors in accordance with this
Article 20;                                                                                                        
|
| | c) |  | to approve the annual report, the consolidated financial statements
and the annual financial statements as well as to decide on the
allocation of the balance sheet profit, in particular with regard to
dividends and to sharing of profits by the directors;
|
| | d) |  | to discharge the members of the Board of Directors and the persons
entrusted with the management;                                                                                                                                                             
|
| | e) |  | to pass resolutions concerning matters which by law or by the
Articles of Incorporation are reserved to the authority of the General
Meeting of Shareholders.                                                                                                 

Art. 8

Ordinary and Extraordinary General Meetings of Shareholders

The ordinary General Meeting of Shareholders shall be held each year within six
months after the close of the business year of the Company. It shall take place
at the registered office of the Company or at any other place in Switzerland or
abroad as determined by the corporate body convening the meeting.

Extraordinary General Meetings of Shareholders shall be convened if deemed
necessary by the Board of Directors or the auditors, upon resolution of a
General Meeting of Shareholders or upon written request by one or more
shareholders, holding in the aggregate not less than one tenth of the share
capital, to the Board of Directors specifying the items of the agenda and the
motions.

Art. 9

Convening of General Meetings of Shareholders

The General Meeting of Shareholders shall be convened by the Board of Directors
or, if necessary, by the auditors,

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The General Meeting of Shareholders shall be convened at least twenty days
before the date of the meeting in accordance with Article 25 of the Articles of
Incorporation.

The notice of a meeting shall state the place and time of the meeting, the
items on the agenda and the motions of the Board of Directors and of the
shareholders who requested the convening of a General Meeting of Shareholders.
In case of elections the names of the nominated candidates shall be specified.

No resolution shall be passed at a General Meeting of Shareholders on matters
for which no notice as aforesaid was given. This shall not apply to the
resolution to convene an Extraordinary General Meeting of Shareholders and to
initiate a special audit. Motions within the limits of the items on the agenda
and negotiations without passing a resolution do not require such an
announcement.

Not later than twenty days before the Ordinary General Meeting of Shareholders
the business report and the report of the auditors shall be made available for
inspection by the shareholders at the registered office of the Company. This
shall be announced in the invitation for the General Meeting of Shareholders.

Art. 10

Agenda

One or more shareholders whose combined share holdings represent an aggregate
nominal amount of at least CHF 1 million may demand that an item be included in
the agenda of a General Meeting of Shareholders. Such a demand must be made in
writing not less than 45 days before the meeting and shall specify the items
and the motions of such a shareholder.

Art. 11

Chairperson, Scrutineers

The President of the Board of Directors, or the Vice-President or any other
member of the Board of Directors takes the chair in General Meetings of
Shareholders. In case of absence of any member of the Board of Directors the
General Meeting of Shareholders elects the Chairperson.

The Chairperson shall appoint the scrutineers and the secretary who do not need
not be shareholders of the Company.

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Art. 12

Voting Rights, Rules of Procedure and Representation

In the General Meeting of Shareholders each share entitles to one vote. Only
the shareholders registered in the share register as shareholders with voting
rights on a cut-off day fixed by the Board of Directors before the General
Meeting of Shareholders are authorized to take part in the General Meeting of
Shareholders and to vote. The shares are not dividable.

The Board of Directors shall provide for the rules regarding the participation
and the representation at the General Meeting of Shareholders as well as the
determination of voting rights.

A shareholder may be represented by his legal representative, another person
who need not be a shareholder of the Company, authorized in writing, by
corporate bodies, by independent proxies or by depositaries.

Art. 13

Resolutions

Unless provided for differently in the law or in the Articles of Incorporation,
the General Meeting of Shareholders passes resolutions and holds elections with
the majority of votes cast, excluding abstentions and void and blank votes. If
no election has taken place at the first ballot and if there is more than one
candidate, the Chairperson shall order a second ballot in which the candidate
with the most votes shall be elected.

If the capability exists to vote on resolutions and elections electronically at
the General Meeting of Shareholders it shall be done so. Otherwise, resolutions
and elections shall be voted on on a show of hands, unless the Chairperson
orders or the General Meeting of Shareholders, by request of shareholders
representing in the aggregate a share capital of at least CHF 1 million,
resolves on a secret ballot.

The Chairperson may at any time order to repeat an election or a resolution
taken on a show of hands with a written ballot, if he has doubts on the results
of the vote or the resolution. In this case, the preceding election or
resolution taken on a show of hands is deemed not to have occurred.

The approval of both at least two thirds of votes represented and the absolute
majority of the nominal values of the shares represented is required for
resolutions of the General Meeting of Shareholders on:



|1. |  | an alteration of the purpose of the Company;                                                                                                                
|-- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|2. |  | the creation of super-voting shares;                                                                                                                        
|  
|3. |  | restrictions on the transfer of registered shares and the removal of such
restrictions as well as restrictions to vote and the removal of such
restrictions;

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|4. |  | an authorized or contingent increase of share capital;                                                                                                                
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|5. |  | an increase of share capital by conversion of capital surplus, by
contribution in kind or for the purpose of an acquisition of assets and
the grant of special rights;
|  
|6. |  | a restriction or exclusion of the subscription right or advance
subscription right;                                                                                   
|  
|7. |  | a change of the Companys registered office;                                                                                                                          
|  
|8. |  | the dissolution of the Company without liquidation.                                                                                                                   

Art. 14

Minutes

The Board of Directors is responsible for keeping the minutes concerning the
represented shares in the General Meeting of Shareholders as well as any
motions, statements to the minutes and resolutions of the shareholders. The
minutes shall be signed by the Chairperson and the secretary.

B. The Board of Directors

Art. 15

Constitution, Term of Office

The Board of Directors shall consist of a minimum of four and a maximum of nine
members.

The Board of Directors shall constitute itself. The Board of Directors shall
appoint its President, one or two Vice-Presidents, if any, and the secretary
who does not need to be a member of the Board of Directors.

The Board of Directors shall determine the remuneration of its members.

The members of the Board of Directors shall be elected for a term of office of
not more than three years; they are re-eligible. A year in the meaning of this
provision is the period between two Ordinary General Meetings of Shareholders.
In case of an election of a substitute, the new member of the Board of
Directors finishes the term of office of its predecessor.

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Art. 16

Powers of the Board of Directors

The Board of Directors is responsible for the ultimate direction of the
Company. The Board of Directors represents the Company and manages the affairs
of the Company that are not allotted to any other corporate body by law, by the
Articles of Incorporation or by regulations.

The Board of Directors has in particular the following non-transferable and
inalienable duties:



|1. |  | the ultimate direction of the Company and the issuance of the necessary
instructions;                                                                                                                                                                            
|-- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|2. |  | the determination of the organization;                                                                                                                                                                                                                           
|  
|3. |  | the determination of the principles of accounting, financial control and
financial planning;                                                                                                                                                                     
|  
|4. |  | the appointment and removal of the persons entrusted with the management
and the representation of the Company;                                                                                                                                                  
|  
|5. |  | the ultimate supervision of the persons entrusted with the management of
the Company, especially in view of their compliance with the law, the
Articles of Incorporation, regulations and instructions;                                                          
|  
|6. |  | the preparation of the business report and the General Meetings of
Shareholders and the implementation of its resolutions;                                                                                                                                       
|  
|7. |  | the notification of the judge in case of over-indebtedness;                                                                                                                                                                                                      
|  
|8. |  | the issue of option rights and conversion rights in respect of shares of
the Company, the increase of the share capital out of authorized capital
as well as resolutions concerning capital increases and respective
amendments to the Articles of Incorporation;
|  
|9. |  | the examination of the professional skills of qualified auditors.                                                                                                                                                                                                

For the rest, the Board of Directors may, by adoption of Organizational
By-laws, delegate the management of the Company within the limits of the law to
an individual member of the Board of Directors, to a group of members of the
Board of Directors or to a third party.

Art. 17

Signing Authority

The Board of Directors determines those of its members as well as those third
parties who shall have signing authority for the Company. The Board of
Directors shall further determine the manner in which such persons may sign on
behalf of the Company.

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Art. 18

Convocation of Meetings

The President or any of the Vice-Presidents of the Board of Directors shall
call meetings of the Board as often as circumstances call for or if a member so
requires and specifies the reasons. The convening shall take place within two
weeks. The convocation shall be made not less than ten days before the meeting
is held in writing (or by telefax or e-mail if the sender can be identified as
the relevant member of the Board of Directors) and by announcing the agenda.

Art. 19

Resolutions

In order to pass resolutions, the majority of the members of the Board of
Directors must be present. Telephone conferences and video conferences are
permitted if the participants can be identified unequivocally and clearly. No
quorum of present members shall be necessary for resolutions of the Board of
Directors providing for the
confirmation of capital increases or for the amendment of the Articles of
Incorporation in connection with capital increases.

The resolutions and elections by the Board of Directors require a majority of
the votes cast. The Chairperson shall have a casting vote.

Resolutions may be adopted by way of circular letter, including telegram,
telefax and e-mail (if the sender can be identified as the relevant member of
the Board of Directors), provided that no member requests a verbal discussion.
In case of circular resolutions, the absolute majority of all votes is
required.

The negotiations and the resolutions of the Board of Directors shall be kept in
the minutes, which shall be signed by the Chairperson and the secretary.

C. Auditors and Group Auditors

Art. 20

Term, Powers and Duties

The auditors and the Group auditors shall be elected by the General Meeting of
Shareholders for a term of one year; they shall have the powers and duties
vested in them by law.

The General Meeting of Shareholders may elect one or more further auditors who
shall carry out the reviews to be made in connection with increases of the
share capital (Art. 652f, Art. 653f and Art. 653i of the Swiss Code of
Obligations).

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IV.      Business Year, Annual Financial Statement, Consolidated Financial Statement and Allocation of Profit

Art. 21

Business Year

The Board of Directors shall determine the business year.

Art. 22

Annual Financial Statement, Consolidated Financial Statement

The annual financial statement, consisting of the profit and loss statement,
balance sheet and annex, and the consolidated financial statement shall be
established in accordance with the provisions of the Swiss Code of
Obligations, particularly Art. 662 et seq., and with generally accepted
commercial principles and principles of the business segment.

Art. 23

Allocation of Profit

Subject to the provisions on the allocation of profit provided for in the law,
especially Art. 671 et seq. of the Swiss Code of Obligations, the General
Meeting of Shareholders decides on the allocation of profit.

The General Meeting of Shareholders is authorized to create capital reserves
other than the legally required reserves that shall be used to fulfil the
Companys purpose.

V.      Dissolution and Liquidation

Art. 24

The General Meeting of Shareholders may at any time decide the dissolution and
liquidation of the Company in accordance with the relevant provisions of the
law and the Articles of Incorporation.

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VI.      Communications

Art. 25

Notifications of the Company to shareholders and to third parties shall be made
by one publication in the Swiss Official Gazette of Commerce. The Board of
Directors may determine additional means of communication.

Other communications to shareholders can be made in writing if the Company
knows the relevant addresses.

VII.      Contributions in Kind

Art. 26

In connection with the capital increase of the Company dated September 24,
2001, and according to the contribution in kind agreement dated September 24,
2001, the Company assumes as a contribution in kind (a) 1,000,000 fully paid
registered shares of Converium AG, Zug, representing an aggregate value of CHF
12,000,000, and (b) 100 fully paid shares of Converium Holdings (North America)
Inc, Delaware, U.S.A., representing an aggregate value of USD 1.

In consideration for the contribution in kind, Zurich Financial Services,
Zurich, c/o Zurich Insurance Company, Mythenquai 2, 8002 Zürich, shall receive
1,200,000 newly issued registered shares at a par value of CHF 10 each.
The amount of the issue price exceeding the aggregate par value of the new
shares of CHF 1.60 (corresponding to USD 1) shall be kept by the Company as
capital surplus.

Art. 27

In connection with the capital increase of the Company dated September 24,
2001, the Company assumes as a contribution in kind a note, dated September 21,
2001, of Zurich Insurance Company, Mythenquai 2, 8002 Zurich, in the aggregate
amount of CHF 900,000,000. In consideration for the contribution in kind,
Zurich Financial Services, Mythenquai 2, 8002 Zurich, shall receive 38,790,000
newly issued registered shares at a par value of CHF 10. The amount of the
issue price exceeding the aggregate par value of the new shares of CHF
512,100,000 shall be kept by the Company as capital surplus.

The Company intends to contribute this note to Converium AG in the course of an
increase of the share capital of Converium AG as a contribution in kind against
issue of 39,000,000 new registered shares in Converium AG at a par value of CHF
10 each at a maximum issue price of CHF 900,000,000.

Zug, 05.02.2003

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