Total assets $1.2 billion
Gross reserves $466 million
Net assets $374 million
Glacier Re, established in 2004 and based in Switzerland, wrote a diversified book of predominantly short tail reinsurance until it entered run-off in August 2010. As at 30 September 2010, it had total assets of $1.2 billion, gross technical reserves of $466 million, and net assets of $374 million.
This was the largest ever acquisition of a European reinsurer in run-off.