Allied World U.S. Appoints Lou Iglesias President, Property & Casualty

ZUG, Switzerland, April 13, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Lou Iglesias has joined Allied World U.S. as President of the Property & Casualty Division. He has been appointed to this senior post in the U.S. that includes responsibility for underwriting and servicing all Program, Property, Environmental, Inland Marine, General and Specialty Casualty businesses.  He will be charged with furthering Allied World's U.S. specialty capabilities that complement what the company has been building in the U.S. for the last five years.

Todd Germano, who has been instrumental in the U.S. build-out, will move to a global role, and will be charged with developing global product and service capabilities for the company.  He will be working closely with both the U.S. and international offices.  Todd will have primary responsibility for enhancing corporate capabilities to service clients and provide specialty solutions around the world.  This is a key strategic initiative as clients of all sizes and in all industries are increasingly looking for global solutions to risk and insurance exposures.

Gordon Knight, President for Allied World U.S., commented, "Todd has been a vital part of the U.S. team for the past four years. We have worked hard to expand the brand and product scope nationally and his intelligence, determination and dedication were instrumental in the build out of Allied World U.S. I am grateful for his service and I look forward to working with Todd on the global expansion project."

Knight continued, "We are very excited that Lou has joined the continuously growing team at Allied World.  Over the last several years, we have accelerated the strategic growth of product solutions offered in the U.S. With the transitioning market, additional products, and tremendous people, we are well positioned for continued growth in the coming years.  Lou's broad experience and deep industry knowledge will be a tremendous asset to Allied World.  I hope you will join me in supporting Lou in his new role as President of Allied World's U.S. Property & Casualty Division."

Mr. Iglesias has over 25 years of experience in the insurance industry. Prior to joining Allied World, Mr. Iglesias spent 18 years at American International Group (AIG) in varying management positions including: CEO for Commercial Casualty, President for the Risk Management Group, President for AIG Environmental and President of AIG Construction.  Prior to AIG, Mr. Iglesias worked at Travelers and Reliance insurance companies. He holds a degree in Business Management from the State University of New York at Fredonia and holds both CPCU and ARM designations.

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