Allied World Reinsurance U.S. Launches Global Marine and Specialty Division; Appoints Kevin Marine

ZUG, Switzerland, Dec. 15, 2010 /PRNewswire-FirstCall/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World Re U.S. has launched a global Marine and Specialty Division that will initially offer reinsurance for marine, aviation, satellite and crop reinsurance on a global basis. Allied World Re U.S. has appointed Kevin Marine as Senior Vice President, Head of Global Marine and Specialty. He will be based in New York and report directly to Thomas Kelly, Chief Underwriting Officer for Allied World Re U.S.

Thomas Kelly commented, "We are excited to announce our Global Marine & Specialty Division as part of Allied World Re U.S.'s commitment to provide our clients and brokers with the most comprehensive reinsurance solutions. I am confident that Kevin's extensive experience and reputation in these industry segments will be an invaluable asset as we look to support this business both in North America and abroad."

Mr. Marine has over 20 years of experience in the reinsurance industry. Prior to joining Allied World Re U.S., Mr. Marine was most recently Senior Vice President, Chief Operating Officer and Chief Underwriting Officer for Platinum Underwriters Reinsurance, Inc. in New York.

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 branches and affiliates.  Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company, and our Lloyd's Syndicate 2232 is rated A+ (Strong) by Standard & Poor's and Fitch. Please visit our website at 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