Allied World U.S. Announces New Inland Marine Division
ZUG, Switzerland, April 19, 2011 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World U.S. has expanded its Property & Casualty(P&C) operations with the launch of a new Inland Marine division. The division will target all filed and non-filed classes of Inland Marine business in the United States, with a focus on the construction industry. Allied World U.S. has appointed Alan Crater as Vice President, Inland Marine. He will be based in New York and report directly to Todd Germano, President of Property & Casualty for Allied World U.S.
Mr. Germano stated, "In launching this new division, we have brought in some of the best Inland Marine underwriters in the industry. Alan and his team bring with them extensive industry knowledge with over 100 combined years of experience, having profitably written risks across the Inland Marine spectrum on a nationwide basis."
"We are proud to announce our new team of Inland Marine professionals," commented Gordon Knight, President of Allied World U.S. "We continue to build out our U.S. underwriting platform by adding a full suite of Inland Marine products to complement and round out our specialty product set around those industries where we have proven expertise and underwriting margin."
"In addition to our world class team of underwriting professionals, we have partnered with two industry leaders in the fields of loss control and claims handling," added Alan Crater. "Together with Regional Reporting, Inc. and vrs Vericlaim, a Toplis and Harding Company, Allied World has created a formidable team that places the needs of the insureds first and foremost. We're ready to hit the ground running."
Allied World U.S.'s Inland Marine division is available to insureds in all 50 states on either an admitted or surplus lines basis, and provides broad coverage with limits of up to $50 million. Coverage is available for all Inland Marine classes, including Commercial Output Program (COP) exposures.
For more information about the Inland Marine products please contact:
Alan Crater
Vice President, Inland Marine
T 646.794.0597
E [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 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
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