ZUG, Switzerland, Oct. 25, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World U.S. and Venture Underwriters, Inc have entered into an agreement to provide a General Liability program for commercial contractors. The program will target specialty trade contractors and small general contractors in the Western U.S., specifically in California, Arizona, Washington and Oregon.
Grace Meek, Senior Vice President, U.S. Programs commented, "We are confident that our strategic relationship with Venture Underwriters will be a mutually beneficial one. Their long-standing expertise underwriting surplus lines risks regionally will be an asset to our brokers and clients. We look forward to working with Venture to build-out this new book of business, providing a superior product in this discerning market."
Andrew C. Heaner, President of Venture Underwriters, Inc and Allstar Financial Group commented, "Our new partnership with Allied World will enable Venture Underwriters to continue providing our customers with quality general liability products and excellent financial security. We are very fortunate to have Allied World as a partner."
Maximum limits of $1 million each occurrence / $2 million general aggregate/ $2 million products-completed operations hazard aggregate will be offered. Claims will be administered by National Claims Services, Inc., Allstar Financial Group's in-house third-party administrator.For more information on this Program, please contact Peter Bishop at (678) 832 2144 or 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. About Venture Underwriters, IncVenture Underwriters provides specialty general liability and excess liability to an array of industry exposures. Venture Underwriters was formed in 2007 as a member of the Allstar Financial Group with offices in Atlanta, GA and San Francisco, CA. Please contact the San Francisco office at 415-655 -5122 for more information. 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