Glacierre Press Release

PRESS RELEASE
2005-04-13
Glacier Reinsurance AG

Appointment of Senior Underwriter and Financial Controller

Glacier Reinsurance AG ("Glacier Re"), the rapidly-growing Swiss reinsurance company, has appointed Oliver Wirtzfeld as Senior Underwriter and Cinzia Muggiasca Ahr as Financial Controller. Both took up their posts on 1st April 2005.

Oliver Wirtzfeld will be responsible for marine and energy underwriting at Glacier Re. He joins having spent seven years at GE Insurance Solutions in Munich. Most recently, he was Senior Underwriter in the Marine Whole Account unit, jointly responsible for all aspects of underwriting a Whole Account portfolio.

Cinzia Muggiasca Ahr joins from PricewaterhouseCoopers AG in Zurich, where she was a senior auditor specialising in reinsurance companies and Sarbanes-Oxley projects. Prior to this, she spent three years at Mannheimer Insurance AG, also in Zurich. Here she specialised in claims, accounting, and reporting to Swiss regulatory bodies. At Glacier Re she will work alongside CFO and COO Glenn Campbell.

Robbie Klaus, Chief Executive Officer and Chief Underwriting Officer of Glacier Re said: "Oliver and Cinzia's appointments reflect how far Glacier Re has come in a short time. Both have market-leading expertise and we are delighted to have them on the team. Glacier Re continues to grow, and we expect to announce further appointments in the near future."

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