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Last $39.98 USD
Change Today -0.22 / -0.55%
Volume 321.4K
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

allied world assurance co (AWH) Key Developments

Allied World North America Announces Introduction of an Enhanced Professional Risk-Transfer Organization Professional Liability Product

Allied World Assurance Company Holdings, AG announced that Allied World North America has introduced an enhanced Professional Risk-Transfer Organization (PRO) Professional Liability product. This product offers greater flexibility and a more responsive design, enabling clients to select and use only the coverages they need by choosing from a comprehensive array of E&O, D&O, EPL and Privacy and Network Security protection. The revised product also includes an expanded and more robust Privacy and Network Security (SRVS) coverage option where insureds can purchase up to $1 million in additional limits and notification/monitoring costs for up to 75,000 individuals without having to buy an additional policy. Coverage enhancements (available either as a sub-limit or up to the full policy limit) also include Governmental Claims Coverage for E&O, Non-rescindable Side A coverage and Derivative Demand Coverage for D&O claims and Third-Party EPL Coverage.

Allied World Assurance Company Holdings, AG Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Allied World Assurance Company Holdings, AG announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net premiums written of $603.669 million against $553.924 million a year ago. Net premiums earned were $646.376 million against $537.247 million a year ago. Net investment income was $42.760 million against $36.793 million a year ago. Net realized investment losses were $20.182 million against net realized investment gains of $85.217 million a year ago. Total revenues were $669.878 million against $659.257 million a year ago. Income before income taxes was $9.591 million against $158.058 million a year ago. Net income was $9.458 million or $0.10 per diluted share against $151.863 million or $1.52 per diluted share a year ago. Operating income was $25.835 million or $0.27 per diluted share against $76.071 million or $0.76 per diluted share a year ago. Net cash provided by operating activities was $109.826 million against $145.842 million a year ago. Purchase of fixed assets was $9.610 million against $3.265 million a year ago. Annualized return on average equity (ROAE), net income was 1.0% against 16.6% a year ago. Annualized ROAE, operating income was 2.8% against 8.3% a year ago. For the six months, the company reported net premiums written of $1,376.197 million against $1,325.538 million a year ago. Net premiums earned were $1,214.924 million against $1,067.532 million a year ago. Net investment income was $87.311 million against $84.412 million a year ago. Net realized investment gains were $24.843 million against $139.422 million a year ago. Total revenues were $1,328.856 million against $1,291.366 million a year ago. Income before income taxes was $140.866 million against $351.603 million a year ago. Net income was $133.814 million or $1.40 per diluted share against $328.835 million or $3.27 per diluted share a year ago. Diluted book value per common share as on June 30, 2015 was $38.75 against $38.27 as of December 31, 2014. Operating income was $117.516 million or $1.23 per diluted share against $205.930 million or $2.05 per diluted share a year ago. Net cash provided by operating activities was $427.402 million against $448.938 million a year ago. Purchase of fixed assets was $17.984 million against $5.601 million a year ago. Annualized return on average equity (ROAE), net income was 7.2% against 18.3% a year ago. Annualized ROAE, operating income was 6.3% against 11.4% a year ago.

Allied World Assurance Company Holdings Appoints Michael Garrison as Senior Vice President of Asia-Pacific for Allied World Global Markets

Allied World Assurance Company Holdings, AG announced that Michael Garrison has been appointed as Senior Vice President of Asia-Pacific for Allied World Global Markets. Mr. Garrison will report to Julian James, President of Allied World Global Markets, and will relocate to Singapore in December. In this role, Mr. Garrison will be responsible for the strategic leadership of the Global Markets insurance operations in Asia-Pacific. He will oversee the implementation of the region's strategic plan and be responsible for the oversight of the company's direct insurance offices in Hong Kong, Singapore, Malaysia, and Australia. Mr. William Cotter, current Executive Vice President of Asia-Pacific, will return to the U.S. to manage the North American Business Development team in Allied World North America. He will relocate to Boston at the end of the year. Prior to joining Allied World, Mr. Garrison was most recently Senior Vice President and Chief Underwriting Officer at Starr Companies where he created and developed first-party underwriting platforms for International Onshore Energy, Global Construction, Global Exploration & Production and International General Property.

Allied World Assurance Company Holdings, AG Announces Amendments to the Articles of Incorporation

As previously reported, at the 2015 Annual Shareholder Meeting of Allied World Assurance Company Holdings, AG the Company's shareholders approved amendments to its Articles of Association to reduce the Company's share capital by cancelling 1,650,696 voting shares held in treasury that were repurchased by the Company under its 2014 share repurchase program. The Company's amended and restated Articles of Association became effective upon registration in the Commercial Register in the Canton of Zug, Switzerland on July 8, 2015.

Allied World Promotes Kim Delaney to Senior Vice President, Healthcare Management Liability Practice Lead for North America

Allied World Assurance Company Holdings, AG announced that Kim Delaney has been appointed Senior Vice President, Healthcare Management Liability Practice Lead for Allied World North America. Ms. Delaney is based in Allied World's Farmington, Connecticut office and will report directly to Christian Gravier, President, Allied World North American Professional Lines Division. In her new role, Ms. Delaney will oversee all components of the Healthcare Management Liability business, including product strategy, distribution, relationship management and management of talent and resources. Prior to this promotion, Ms. Delaney was Senior Vice President in Allied World Healthcare responsible for product development and best practices associated with the Healthcare Management Liability lines.

 

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Industry Analysis

AWH

Industry Average

Valuation AWH Industry Range
Price/Earnings 13.2x
Price/Sales 1.5x
Price/Book 1.0x
Price/Cash Flow 12.1x
TEV/Sales NM Not Meaningful
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