Glacier Group Press Release

PRESS RELEASE
2008-10-13
Glacier Group

Glacier Insurance opens new office in London

- Glacier finds a new permanent home at 88 Leadenhall Street -

Glacier Insurance AG (“Glacier Insurance”), headquartered in Liechtenstein and part of the Switzerland-based Glacier Group, today announces that it has moved to its new underwriting office in London. It will now have a permanent base at 88 Leadenhall Street, London.

Glacier Insurance began its London underwriting operations in March 2008 adding to its operations in Switzerland, Germany and Liechtenstein. Glacier Insurance London specialises in writing marine, war and terrorism, UK property, general aviation, space and London market casualty business. It is on track to write US$30mn to US$40mn of premium from London in its first year.

The new London office will foster the presence of Glacier Group in the London market. The 88 Leadenhall Street location will ensure that brokers and clients have excellent direct access to the experience and skill of Glacier Insurance’s expanding London team. The London office will benefit from the support of the strong Glacier Group team.

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

“The new London office reaffirms Glacier’s commitment to this important market. It will enable us to provide local partners and clients with the strengths of continental and international expertise combined with local market needs.”

Steven Price, Managing Director of Glacier Insurance London, commented:

“I am very much looking forward to welcoming both brokers and clients to our new London home. We are delighted with the response we have had since we started operations in March and are committed to further developing our underwriting capabilities from our new London home at 88 Leadenhall Street.“

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 $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