Allied World Announces In-House Trade Credit Insurance Platform; Completes Acquisition of Latin American Underwriters Holdings Ltd.

ZUG, Switzerland--()--Allied World Assurance Company Holdings, AG announced today the commencement of its in-house trade credit and political risk insurance platform with the completion of its previously-announced acquisition of its former program administrator, Latin American Underwriters Holdings Ltd. (“LAU”). LAU has underwritten trade credit insurance and political risk coverages solely for Allied World since 2010, and underwrote $28.5 million of gross premiums in 2013.

As part of the acquisition, LAU’s underwriting teams, comprising seven staff in the United States and London, have joined Allied World. This group will be managed by Todd Germano, Executive Vice President of Allied World.

Allied World’s trade credit platform will continue to offer short- and medium-term credit and political risk insurance targeting exporters, importers, financial institutions, contractors and investors worldwide with limits up to $25 million per obligator/guarantor, and for credit terms of up to five years.

Mr. Germano commented, “Allied World’s trade credit and political risk coverage is essential for companies conducting business globally. Our products are tailored to clients’ specific needs and our group’s underwriting expertise affords us the opportunity to be a stronger presence in this specialty segment of the market. We look forward to working with the former LAU team to ensure the continuity of services and coverage to our client and trading partners. We will continue to develop and grow this line of business, and provide the service and expertise that our clients have come to expect from Allied World.”

For more information on our trade credit and political risk coverage, please visit our website at: http://www.alliedworldinsurance.com/product/11-98-167/trade_credit_-and-_political_risk or contact Todd Germano at Todd.Germano@awac.com, Nick Hedley at nick.hedley@awac.com, or Bob Svensk, who is serving as consultant to Allied World for this line of business, at bob@svenskcompanyinc.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 AA – by Fitch.

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.

Contacts

Allied World Assurance Company Holdings, AG
Media:
Faye Cook, +1-441-278-5406
Senior Vice President, Marketing & Communications
Faye.cook@awac.com
or
Investors:
Sarah Doran, +1-646-794-0590
Senior Vice President, Investor Relations and Treasurer
Sarah.doran@awac.com
Website: www.awac.com

Contacts

Allied World Assurance Company Holdings, AG
Media:
Faye Cook, +1-441-278-5406
Senior Vice President, Marketing & Communications
Faye.cook@awac.com
or
Investors:
Sarah Doran, +1-646-794-0590
Senior Vice President, Investor Relations and Treasurer
Sarah.doran@awac.com
Website: www.awac.com