ZUG, Switzerland, Feb. 5, 2013 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Julian James has been named President of Allied World's European platform effective March 4, 2013, pending certain regulatory approvals.
In his new role, Mr. James will be responsible for the strategic direction and underwriting performance of Allied World's European insurance platform, and will work closely with executive management and the company's boards of directors to execute the platform's operating plans and initiatives. Mr. James will be based in Allied World's London office.
Frank D'Orazio, Allied World's President of Bermuda & International Insurance, stated, "Our European platform continues to serve as an important growth area for Allied World. Over the last few years, we've launched several new products and divisions as well as our Syndicate 2232, and we are extremely pleased to announce that Julian has joined our management team to further enhance these efforts. His extensive background in building and managing successful international businesses will greatly complement our current strategy to further advance our European operations."
Mr. James continued, "I am very excited to have the opportunity to be part of Allied World's continuing global expansion and to join such a strong management and underwriting team. Allied World's European platform is recognized as a leader in the excess market, and I look forward to helping them further diversify and develop their business."Mr. James has over 30 years of industry experience. He most recently served as Chief Executive Officer of Lockton International since April 2008, primarily responsible for developing its global operations. Prior to that, Mr. James held a succession of management positions at Lloyd's globally since 1997 as well as chaired and served on several Lloyd's boards. He started his career at Sedgwick Group in 1981, and obtained his Master's in Business Administration from Cranfield University. Mr. James is the Immediate Past President of The Chartered Insurance Institute. 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