Glacier Insurance AG Press Release
PRESS RELEASE
2008-03-31
Glacier Insurance AG
Glacier Insurance begins underwriting operations in London
- Former QBE Managing Director Steven Price appointed to head up London office -
Glacier Insurance AG (“Glacier Insurance” or “The Company”), the European insurer,
today announces that it has commenced underwriting operations in London, having
received the relevant regulatory approvals. It is also pleased to announce that
Steven Price has been appointed Managing Director, Glacier Insurance London.
Glacier Insurance, part of the Glacier Group, began underwriting operations in November
2006. In 2007, its first full year of underwriting, it wrote US$40.4 million of
premium It currently writes business from its headquarters in Vaduz, Liechtenstein
and its branch office in Cologne. Glacier Insurance London will specialise in writing
marine, war and terrorism, UK property, general aviation, space and London Market
casualty business. It expects to write US$30m to US$40m of premium from London in
its first year.
Steven Price joins Glacier Insurance from the London operations of specialist Bermudian
insurer Securit Re, where he was CEO, as well as a co-founder of the company. Prior
to that, he spent seven years at the QBE Group, where he was Managing Director of
its European Commercial Division, with overall responsibility for QBE Europe’s Major
Risks, Treaty Reinsurance and Financial Risks operations. He began his career in
property underwriting, working for Chubb Group, Cigna Group (now Ace) and Republic
Insurance.
In his new role, Steven will have overall responsibility for the management and
development of Glacier Insurance’s London operations.
Robbie Klaus, Chief Executive Officer of the Glacier Group, commented:
“A London operation brings Glacier Insurance closer to both the brokers and clients
in the targeted business lines and therefore offers unique opportunities to expand
the scope of our business. London also offers an opportunity to boost our underwriting
expertise by bringing in additional talent. “We are delighted that we could attract
a leader of Steven’s calibre. With his wide-ranging underwriting experience and
managerial skills, he is ideally suited to the task of building our London operations
into a successful and significant part of our business.”
Steven Price commented:
“Glacier’s journey from start-up to a respected and profitable European reinsurer
and insurer has been fascinating to watch and I look forward to playing a part in
the Group’s continued growth. We are building an experienced and entrepreneurial
team at Glacier Insurance in London.“
Glacier Insurance’s London offices are currently situated at Holland House, Bury
St, EC3.
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