Glacierre Press Release

PRESS RELEASE
2006-04-10

Glacier Re gains Mexican reinsurance licence

Glacier Reinsurance AG (‘Glacier Re’ or ‘The Company’) today announces that it has received a licence to write reinsurance business in Mexico. The licence, which was granted on 29th March, covers all areas of non-life reinsurance.

Glacier Re plans to write business in Mexico that will mirror its major lines of business worldwide: property, aviation, marine, energy and war & terrorism. The Company aims to grow a customer base of major Mexican insurance companies and corporates and anticipates that it will write approximately US$10million of business in the country per annum.

Further information

The Company

Glacier Reinsurance AG
Robbie Klaus / Glenn Campbell
Tel: +41 55 417 3401 / 3402

Media

Haggie Financial
David Haggie / Peter Rigby
Tel: +44 20 7417 8989