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Allied World Says Ex-AIG Manager Staples to Lead New Surety Unit

Allied World Assurance Company Holdings AG, the insurer that joined Crescent Capital Group LP in a bet on junk bonds, said it is starting a new surety line to bolster its property and casualty unit.

Robert Staples, who previously worked at American International Group Inc. (AIG), will oversee the development of the unit, according to a PR Newswire statement today from Zug, Switzerland-based Allied World.

To contact the reporter on this story: Elizabeth Dexheimer in New York at edexheimer@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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