Allied World Global Markets Strengthens Onshore Construction Team in Australia

ZUG, Switzerland--(BUSINESS WIRE)-- Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that Karsten Buescher has been appointed Assistant Vice President, Onshore Construction, Australia. He will report to Clifford Scott, Vice President and Head of Onshore Construction, Asia-Pacific.

Clifford Scott said: “Karsten’s depth of knowledge and experience gained around the world underlines our ongoing commitment to attracting the brightest and best talent and ensuring that we are able to respond to our clients’ changing needs. His appointment is the latest step in the building out of our Australia office, adding to our strong offering in Onshore Construction in Asia-Pacific.”

Mr. Buescher has almost two decades of professional experience in engineering, underwriting and risk engineering. He has held a variety of senior positions at companies in central Europe, the United States and Australia, including FM Insurance Company Ltd and Munich Re. He holds a Master of Business & Engineering and Bachelor of Engineering in Utilities and Environmental Technologies from the University of Applied Sciences in Cologne, Germany.

About Allied World

Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers 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 AA- by Fitch.

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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 the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed acquisition by Fairfax Financial Holdings Limited (“Fairfax”); the inability to obtain Allied World’s or Fairfax’s shareholder approval or the failure to satisfy other conditions to completion of the proposed acquisition, including receipt of regulatory approvals; risks that the proposed acquisition disrupts our current plans and operations; the ability to retain key personnel; the ability to recognize the benefits of the proposed acquisition; the amount of the costs, fees, expenses and charges related to the proposed acquisition; pricing and policy term trends; increased competition; the adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; 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.

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Allied World Assurance Company Holdings, AG

Media:

Faye Cook, +1-441-278-5406

Senior Vice President, Marketing & Communications

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Website: www.awac.com

Source: Allied World Assurance Company Holdings, AG