Glacier Group Press Release

PRESS RELEASE
2009-04-06
Glacier Group

Glacier Insurance

- Glacier Insurance expands presence and opens for business in the city of Zurich -

Pfäffikon, Switzerland: Glacier Insurance (“Glacier” or “The Company”), the European insurer, today announces that it has opened a new underwriting office in the city of Zurich. The office, located in a historic location in the heart of Zurich’s financial and insurance district, will contain a Glacier Insurance underwriting office and a marketing presence for Glacier Re.

Richard Etridge, CEO Glacier Insurance, is to head up the Zurich operation. As a founding member of Glacier he has had a vital role in the company’s evolution and has been the driving force behind the successful launch and subsequent growth of Glacier Insurance.

Glacier Insurance was established in 2006 and continues to develop a thriving business, with 2008’s gross written premiums up 298% on 2007 at over USD 123 million. It writes business from its headquarters in Schaan, Liechtenstein and from its branches in Cologne and London. With the opening of the Zurich office, Glacier will further strengthen its network of underwriting offices and develop its presence in the city’s increasingly important insurance market.

Robbie Klaus, Chief Executive Officer of the Glacier Group, commented:

“Being located where our customers are is an integral part of our strategy. The new, convenient location in Zurich will allow us to better service and support them and will give them better direct access to Glacier Insurance. I am convinced that our clients will benefit from the improved proximity to our exceptional underwriting team.”

Glacier’s Zurich new office is situated at Genferstrasse 35, 8002 Zürich and can be reached by phone at +41 55 417 35 55.

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 558 million as of 31 December 2008 and is rated A- (Excellent) by A.M. Best.

Glacier Insurance
Glacier Insurance was incorporated in Liechtenstein in November 2006 and is licensed by the Financial Market Authority, FMA, in Liechtenstein. It operates from Liechtenstein, Germany, Switzerland 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 and is regulated by the Swiss Financial Market Supervisory Authority, FINMA, in Switzerland. It operates from Switzerland.

www.glaciergroup.com