Allied World Europe Launches Marine Insurance Business; Appoints Bart Grefe Vice President, Marine Underwriting Manager

Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that Allied World Europe has launched a new Marine insurance line of business. Bart Grefe has been appointed Vice President, Marine Underwriting Manager, to lead the team.

Mr. Grefe will be responsible for building the line of business and developing a comprehensive Marine product suite. The team will initially focus on establishing a Marine Cargo offering, which will be underwritten through the company’s Lloyd’s Syndicate 2232 on the 2014 year of account. Additional marine classes such as Marine Liability and Fine Art & Specie will be added in the future, pending regulatory approval.

Julian James, President of Allied World Europe, commented, “At Allied World, we remain committed to meeting the evolving needs of our clients and trading partners. To that end, we have been steadily expanding our primary capabilities across a number of business lines in Europe. This strategic move into the Marine market is the latest example of our European growth strategy; offering a portfolio of products that offer state-of-the-art coverage and superior service.”

“I am confident that with Bart’s reputation and technical expertise, we will provide a first class Marine offering to the London market, throughout the United Kingdom and across Europe. I look forward to working with the team to build this book of business.”

Prior to joining Allied World, Mr. Grefe was most recently Marine Underwriting Manager at Alterra Group. He has over 25 years of insurance industry experience. Throughout his career, Mr. Grefe has held various underwriting and management positions at multinational insurance companies and also held the position of Associate Director at Sedgwick Energy & Marine Limited.

For more information about our new Marine offering please contact Bart Grefe at bart.grefe@awac.com.

About Allied World

Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers 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.

Our Lloyd’s Syndicate 2232 is managed by Capita Managing Agency Limited, which is a subsidiary of Capita plc, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority of the United Kingdom.

Please visit the following for further information on Allied World: Web: www.awac.com | Facebook: www.facebook.com/alliedworld | LinkedIn: http://www.linkedin.com/company/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 adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; 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.

Copyright Business Wire 2010

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