-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SJ7mU7xO+75nx42TLU4utTkPNFkcDJhHZSaV++svWwfT14pNvAEQDjQgjDaOeo+z wk3bJ2l6FRzMhWzA7YWs2A== 0001047469-05-027779.txt : 20051206 0001047469-05-027779.hdr.sgml : 20051206 20051206105807 ACCESSION NUMBER: 0001047469-05-027779 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051206 FILED AS OF DATE: 20051206 DATE AS OF CHANGE: 20051206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CREDIT SUISSE GROUP CENTRAL INDEX KEY: 0001159510 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15244 FILM NUMBER: 051246088 BUSINESS ADDRESS: STREET 1: 8070 SWITZERLAND STREET 2: PO BOX A CITY: ZURICH STATE: V8 ZIP: 00000 BUSINESS PHONE: 0114772721616 MAIL ADDRESS: STREET 1: 8070 SWITZERLAND STREET 2: PO BOX A CITY: ZURICH STATE: V8 ZIP: 00000 6-K 1 a2165740z6-k.txt 6-K --------------------------- OMB APPROVAL OMB Number: 3235-0116 Expires: July 31, 2008 Estimated average burden hours per response.....6.20 --------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of December 6, 2005. Commission File Number 001-15244 ------------- CREDIT SUISSE GROUP - -------------------------------------------------------------------------------- (Translation of registrant's name into English) PARADEPLATZ 8, P.O. BOX 1, CH - 8070 ZURICH, SWITZERLAND - -------------------------------------------------------------------------------- (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F |X| Form 40-F | | Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders. Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): NOTE: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes | | No |X| If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- . --------------------- PRESS RELEASE [CREDIT SUISSE GROUP LOGO] Media Relations CREDIT SUISSE GROUP P.O. Box 1 CH-8070 Zurich www.credit-suisse.com Telephone +41 844 33 88 44 Telefax +41 44 333 88 77 media.relations@credit-suisse.com FINAL REPORTS CONFIRM WINTERTHUR WINS THE DISPUTE WITH XL REGARDING THE SEASONED NET RESERVES AMOUNT AND THE SEASONED NET PREMIUM RECEIVABLE AMOUNT. Zurich, December 6, 2005 - CREDIT SUISSE GROUP TODAY ANNOUNCED THAT THE INDEPENDENT ACTUARY DESIGNATED IN THE SALE AND PURCHASE AGREEMENT (SPA) BETWEEN XL INSURANCE (BERMUDA) LIMITED ("XL") AND WINTERTHUR SWISS INSURANCE COMPANY ("WINTERTHUR") REGARDING THE SALE OF WINTERTHUR INTERNATIONAL IN 2001, HAS RELEASED THE FINAL REPORTS REGARDING THE ESTIMATES OF THE SEASONED NET RESERVES AMOUNT AND THE SEASONED NET PREMIUM RECEIVABLE AMOUNT. The Independent Actuary's Final Reports confirm the results of the Draft Reports released on November 24, whereupon the Independent Actuary's conclusions of the reserve liability and the seasoning of premiums received by XL are closer to the estimates submitted by Winterthur. Accordingly, Winterthur's estimates have become the final and relevant Seasoned Net Reserves Amount and Seasoned Net Premium Receivable Amount. The Seasoning Process can now be considered completed. The provisions recorded by Winterthur on September 30, 2005 for this sale-related contingency, net of pre-payments to and risks retained by XL, amounted to USD 541 million plus interest accrued between June 30, 2004 and September 2005. The final payment to XL will include further interest up to settlement date, and a USD 6 million increase agreed by both parties in the fourth quarter 2005. The Independent Actuary's conclusion regarding the Seasoned Net Premium Receivable Amount will result in a USD 9 million payment from XL to Winterthur. ENQUIRIES Credit Suisse Group, Media Relations Telephone +41 844 33 88 44 Credit Suisse Group, Investor Relations Telephone +41 44 333 31 69 1 CREDIT SUISSE GROUP Credit Suisse Group is a leading global financial services company headquartered in Zurich. It provides private clients and small and medium-sized companies with private banking and financial advisory services, and pension and insurance solutions from Winterthur. In the area of investment banking, it serves global institutional, corporate, government and individual clients in its role as a financial intermediary. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and in the form of American Depositary Shares (CSR) in New York. The Group employs around 62,000 staff worldwide. As of September 30, 2005, it reported assets under management of CHF 1,404.6 billion. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This press release contains statements that constitute forward-looking statements. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to our plans, objectives or goals; our future economic performance or prospects; the potential effect on our future performance of certain contingencies; and assumptions underlying any such statements. Words such as "believes," "anticipates," "expects," "intends" and "plans" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements except as may be required by applicable laws. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include (i) market and interest rate fluctuations; (ii) the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations in particular; (iii) the ability of counterparties to meet their obligations to us; (iv) the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations; (v) political and social developments, including war, civil unrest or terrorist activity; (vi) the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations; (vii) the ability to maintain sufficient liquidity and access capital markets; (viii) operational factors such as systems failure, human error, or the failure to properly implement procedures; (ix) actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations; (x) the effects of changes in laws, regulations or accounting policies or practices; (xi) competition in geographic and business areas in which we conduct our operations; (xii) the ability to retain and recruit qualified personnel; (xiii) the ability to maintain our reputation and promote our brands; (xiv) the ability to increase market share and control expenses; (xv) technological changes; (xvi) the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users; (xvii) acquisitions, including the ability to integrate successfully acquired businesses; (xviii) the adverse resolution of litigation and other contingencies; and (xix) our success at managing the risks involved in the foregoing. We caution you that the foregoing list of important factors is not exclusive; when evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the risks identified in our most recently filed Form 20-F and reports on Form 6-K furnished to the US Securities and Exchange Commission. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CREDIT SUISSE GROUP ------------------------------ (Registrant) Date December 6, 2005 By /s/ URS ROHNER ----------------- --------------------------- General Counsel /s/ Charles Naylor Head of Corporate Communications - ---------------------- * Print the name and title under the signature of the signing officer. PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. SEC 1815 (09-05) -----END PRIVACY-ENHANCED MESSAGE-----