GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--Nelson Re Ltd. (Grand Cayman) reported today that it has been informed by Glacier Reinsurance AG that Glacier Reinsurance AG has incurred approximately $100 million (gross) of claims relating to Hurricane Ike and is currently evaluating the extent to which it has claims with respect to Hurricane Ike under its existing reinsurance agreements, including any potential loss payment obligation of Nelson Re Ltd under its Class G Reinsurance Agreement, dated as of June 6, 2008, by and between the Nelson Re Ltd. and Glacier Reinsurance AG.

Nelson Re Ltd. has provided DTC with a notice containing the above information and information regarding a call with bondholders of Nelson Re Ltd. Class G Series 2008-1 Principal-AT-Risk Variable Rate Notes due June 6, 2011 scheduled for March 16, 2009.

Contacts

Nelson Re Ltd.

Dena P. Thompson, Manager, 345-914-7546