Allied World Approved to Launch New Managing Agency at Lloyd’s

  Allied World Approved to Launch New Managing Agency at Lloyd’s

Business Wire

ZUG, Switzerland -- March 31, 2014

Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that it
has received approval from Lloyd’s, the Prudential Regulation Authority (PRA)
and the Financial Conduct Authority (FCA) to establish its own Lloyd’s
managing agent, Allied World Managing Agency Limited, effective April 1, 2014,
to manage Allied World’s syndicate 2232.

Syndicate 2232 commenced operations at Lloyd’s in June 2010 and was previously
managed by Capita Managing Agency Limited. The syndicate underwrites a diverse
range of insurance and reinsurance product lines including: international
property, general casualty, professional lines and international treaty.
Syndicate 2232 targets key territories inthe Latin Americaand Asia
Pacificregions as well as emerging markets in the Middle East and Africa; it
now writes nine lines of business and its capacity has increased from £26
million in 2010 to £121 million for 2014.

Darren Powell, Active Underwriter for Syndicate 2232, commented, “We are
delighted that Lloyd’s, the PRA and FCA have recognized our commitment to the
market and the hard work we have put in to get to this stage. Launching our
own managing agency at Lloyd’s has been a primary objective for our team. We
are also appreciative of the efforts of the team at Capita who helped get
Syndicate 2232 up and running and who have helped to make this transition as
seamless as possible.”

Julian James, President for Allied World Europe, added, “The establishment of
Allied World Managing Agency Limited at Lloyd’s is another significant step
for our European platform. We continue growing, expanding our presence in the
primary market and providing our trading partners and clients with innovative
products and services to meet their evolving challenges. We will continue to
work with Lloyd’s as a key partner to expand our product offerings in the
European market and enter new territories across the globe.”

About Allied World

Allied World Assurance Company Holdings, AG, through its subsidiaries and
brand known as Allied World, is a global provider of innovative property,
casualty and specialty insurance and reinsurance solutions. Allied World
offers superior client service through a global network of offices and
branches. All of Allied World's rated insurance and reinsurance subsidiaries
are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's,
and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and Fitch.

Please visit the following for further information on Allied World: Web:
www.awac.com | Facebook: www.facebook.com/alliedworld | LinkedIn:
http://www.linkedin.com/company/Allied-World.

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this press release reflect our current
views with respect to future events and financial performance and are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve risks and uncertainties, which may
cause actual results to differ materially from those set forth in these
statements. For example, our forward-looking statements could be affected by
pricing and policy term trends; increased competition; the adequacy of our
loss reserves; negative rating agency actions; greater frequency or severity
of unpredictable catastrophic events; the impact of acts of terrorism and acts
of war; the company or its subsidiaries becoming subject to significant income
taxes in the United States or elsewhere; changes in regulations or tax laws;
changes in the availability, cost or quality of reinsurance or retrocessional
coverage; adverse general economic conditions; and judicial, legislative,
political and other governmental developments, as well as management's
response to these factors, and other factors identified in our filings with
the U.S. Securities and Exchange Commission. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date on which they are made. We are under no obligation (and expressly
disclaim any such obligation) to update or revise any forward-looking
statement that may be made from time to time, whether as a result of new
information, future developments or otherwise.

Contact:

Allied World Assurance Company Holdings, AG
Media:
Noelle Campbell, +1-646-794-0544
noelle.campbell@awacservices.com
or
Faye Cook, +1-441-278-5406
faye.cook@awac.com
or
Investors:
Sarah Doran, +1-646-794-0590
sarah.doran@awac.com
 
Press spacebar to pause and continue. Press esc to stop.