Glacier Re slides into run-off
Glacier Re's demise as a live underwriter was completed at the end of August with the announcement that its portfolio of business has been placed into run-off with immediate effect.
The Swiss-based reinsurer's board pulled the plug on its underwriting activities after failing to find a buyer for its remaining reinsurance and legacy liabilities. It sold its direct and facultative business, Glacier Insurance, to Bermudian (re)insurer Torus in May, as first predicted by sister title Inside FAC.
Ratings agency AM...
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