ZUG, Switzerland, April 5, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced that Joseph Barrett has been appointed Senior Vice President, Global Marine and Specialty, for Allied World Reinsurance Company. Mr. Barrett will report directly to Kevin Marine, Executive Vice President, International & Global Specialty, and will oversee the Crop, Energy and Specialty Property Treaty lines of business.
Mr. Marine commented, "I have known Joe for the past 17 years and I wanted him to be a part of our growing team at Allied World Re. His proven track record, 14 years of crop experience and extensive contacts in the industry will be beneficial as we look to expand this book of business globally. I am confident that he will meet with much success here."
Mr. Barrett has almost 30 years of experience in the reinsurance industry. He began his career in the International Property Facultative Department of CIGNA Reinsurance Company Ltd. (CIGNA Reinsurance) and has held various underwriting and management positions at CIGNA Reinsurance., St. Paul Reinsurance Co. Ltd. and Platinum Underwriters Reinsurance, Inc. Mr. Barrett has a degree in Business Management from the University of Scranton.
About Allied World Assurance CompanyAllied 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
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