Allied World Announces Strategic Changes to Global Reinsurance Operations

ZUG, Switzerland, March 29, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced the centralization of its global reinsurance operations to meet the continually evolving needs of its cedents. The global reinsurance platform is led by John Bender, President & Chief Operating Officer of Allied World Reinsurance Company, and the following appointments have been made in order to execute the centralized strategy: 

Kevin Marine has been appointed Executive Vice President, International & Global Specialty. In this role, Mr. Marine will continue to manage the Marine, Aviation and Crop businesses globally as well as directly oversee Allied World's reinsurance teams in Asia and Europe.

Thomas McKevitt, will remain Executive Vice President, Bermuda Reinsurance and will assume the additional responsibility of Global Property CAT Manager. In this role, he will be responsible for the development and execution of the property and property/cat reinsurance strategies globally.  Mr. McKevitt will continue to oversee the Bermuda reinsurance operations. 

Thomas Kelly has been appointed Chief Operating Officer for Allied World Reinsurance Company. In this role, he will assume responsibility for all U.S. reinsurance operations and administration.  He will also maintain his current responsibilities as Chief Underwriting Officer for Allied World's U.S. reinsurance operations.

John Bender commented, "These strategic changes will help our clients better manage their global risk exposures.  I am extremely confident in the abilities of Kevin, Tom and Tom.  Their years of experience and industry knowledge will be a tremendous asset to the team as we continue to build out our global reinsurance platform."

For more information on our global reinsurance capabilities, please contact John Bender at [email protected].

About Allied World Assurance Company
Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering 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 www.awac.com for further information on 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 impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; negative rating agency actions; the adequacy of our loss reserves; 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.

SOURCE Allied World Assurance Company Holdings, AG