Allied World Opens Philadelphia Office; Appoints Mike Sobel Branch Manager

ZUG, Switzerland, May 15, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today the opening of Allied World U.S.'s new office in Philadelphia.  Mike Sobel, Vice President, has been appointed PhiladelphiaBranch Manager and will oversee distribution and business development for the Mid-Atlantic territory.  He will report to Bobby Bowden, Executive Vice President for U.S. Marketing and Business Development.  

Mr. Sobel has 14 years of experience in the insurance industry.  Prior to joining Allied World, he was mostly recently responsible for overseeing the East Coast territory for the Public Entity Department at ACE USA (ACE).  Mr. Sobel previously held various senior management roles at both ACE and the Kemper Corporation in their Environmental Divisions.  

<p>Mr. Bowden commented, "Opening an office in Philadelphia has been a strategic objective for Allied World.  Since 2008, we have focused on building-out a national branch network, which now includes 10 offices, to better serve our clients and trading partners in the U.S.  Mike's industry experience and local connections will be a strong asset as we look to expand in the region."

For more information on Allied World's Philadelphia office, please contact Mike Sobel, Vice President & PhiladelphiaBranch Manager 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.

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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