Glacier Insurance AG Press Release

PRESS RELEASE
2008-04-21
Glacier Insurance AG

Glacier Insurance AG

- Glacier Insurance appoints Morten Pahle as Senior Space Underwriter -

Glacier Insurance AG (“Glacier Insurance” or “The Company”), the European insurer, today announces the appointment of Morten Pahle as Senior Underwriter (Space), based in the Company’s London office. He takes up his position immediately.

Morten has over 12 years of industry experience and joins Glacier Insurance from EADS Astrium Satellites, where he spent five years as Group Risk and Insurance Manager. In this role, he was responsible for risk identification, assessment, monitoring and mitigation across the EADS Astrium companies, as well as implementation of risk and insurance policy. Prior to joining EADS, he was Space and Aviation Underwriter at Assicurazioni Generali, based in London. Previously, he was a Risk Consultant at DNV France, working on technical risks for a series of meteorological satellites.

Richard Etridge, Chief Underwriting Officer of Glacier Insurance, commented:

“Morten’s expertise in the space arena is second to none. His excellent relationships across the space insurance industry – from operators and manufacturers through to brokers and underwriters – give him a unique perspective on the market. With underwriting, risk management and practical experience, he will be a huge asset to our aerospace team and to our fast-growing London operation.”

Morten holds a BEng (Hons) in Aeronautical Engineering from Salford University and an M.Sc. from City University, London.

Further information

Media

Haggie Financial
David Haggie / Juliet Tilley
Tel: +44 20 7417 8989

Notes to Editors:

About the Glacier Group

Glacier Reinsurance AG (Glacier Re)
Glacier Re was established in December 2004 in the canton of Schwyz in Switzerland to create a strong platform to deliver innovative reinsurance solutions to global customers. It has a rating of A- (Excellent) with a stable outlook from A.M.Best and is regulated by the Swiss Federal Department of Finance.

Glacier Insurance AG
Glacier Insurance was incorporated in Liechtenstein in November 2006 and is licensed by the Financial Market Authority in Liechtenstein. It operates from Liechtenstein, Germany and the UK. It is a wholly-owned subsidiary of Glacier Re AG.

www.glaciergroup.com