Glacier Group Press Release

PRESS RELEASE
2008-10-16
Glacier Group

Glacier Group

- Glacier Insurance appoints Richard Etridge as Chief Executive Officer -

Glacier Insurance AG (‘Glacier Insurance’ or ‘the Company’), headquartered in Liechtenstein and part of the Switzerland-based Glacier Group, is pleased to announce the appointment of Richard Etridge as Chief Executive Officer. Richard takes his new position over from Robbie Klaus and will continue as a member of Glacier’s senior leadership team.

Richard has 20 years of experience in the insurance industry and has worked in various senior underwriting positions for major insurers such as GE Frankona, Faraday and Converium. Richard joined Glacier as a founder and has worked for the Glacier Group since its inception in December 2004.

Robbie Klaus, Chief Executive Officer of the Glacier Group, commented:
“Richard has had a vital role in the Glacier Group’s evolution and he has been the driving force behind the successful launch and subsequent growth of Glacier Insurance. His management skills, practical underwriting experience and first-hand knowledge of our existing and target markets will serve him well as he leads Glacier Insurance in to the next stage of its global development.”

Richard Etridge, Chief Executive Officer of Glacier Insurance, commented:
“Glacier Insurance has had an extremely successful first two years. I look forward to working closely with our country Managing Directors Tim Hofmeister and Steven Price, and our growing underwriting teams, to expand our offering to customers and brokers worldwide.”

Further information

Media

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

Notes to Editors:

About the Glacier Group
Glacier is an international insurance and reinsurance group, founded in December 2004 and headquartered in Pfäffikon, Canton Schwyz, Switzerland. The Glacier Group had underwriting capital of USD 599mn as of 30 June 2008 and is rated A- (Excellent) by A.M. Best.

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

Glacier Reinsurance AG (Glacier Re)
Glacier Re was established in December 2004 in the canton of Schwyz in Switzerland and is regulated by the Swiss Federal Department of Finance. It operates from Switzerland and Argentina.

www.glaciergroup.com