ZUG, Switzerland, Sept. 27, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that the Miami operation of Allied World Reinsurance Management Company has received approval to act as a Lloyd's coverholder to underwrite treaty business on behalf of Allied World's Lloyd's Syndicate 2232. The coverholder will offer a broad range of property and casualty treaty products and services. Allied World Reinsurance opened its Miami branch in May 2012 to service clients and brokers in Latin America and the Caribbean. The Miami office is led by Will Turkel, Senior Vice President & General Manager, Latin America & Caribbean.
Darren Powell, the Active Underwriter for Syndicate 2232, commented, "Coverholders allow Lloyd's syndicates greater access in the regions where they conduct business. This coverholder is a cost-effective way for Allied World Reinsurance to build-out operations regionally and continue to provide its trading partners with the exceptional security and service they have come to expect."
Kevin Marine, Executive Vice President, International & Global Specialty, added, "Since the beginning of 2012, Allied World Reinsurance has centralized its operations and continues building-out our book of business in regions around the globe where we can make a meaningful impact. Our Miami operation was a key objective for us this year and we are exceptionally pleased with the progress that Will Turkel and his team have made on the ground. The addition of our coverholder will allow us to continue expanding in the region."
For more information about Allied World's reinsurance capabilities in the Latin American region, please contact Will Turkel at firstname.lastname@example.org.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. Our Lloyd's Syndicate 2232 is managed by Capita Managing Agency Limited, which is a subsidiary of The Capita Group, Plc, and is authorized by Lloyd's and the Financial Services Authority of the United Kingdom. Cautionary Statement Regarding Forward-Looking StatementsAny 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