ZUG, Switzerland--(BUSINESS WIRE)--Allied World Assurance Company Holdings, AG (NYSE: AWH) today announced the launch of its UK Commercial Division, which allows businesses to purchase a single product or a combination of different coverages to meet their particular needs.
Julian James, President, Global Markets, said: “At Allied World, we put our customer first, developing offerings that best address the risks they face. Our clients tell us they need simple, affordable and flexible insurance solutions and our UK Commercial Division delivers just that — one application for a range of covers and a single point of contact for underwriting and claims to enable a swift and accurate response to any queries that might arise.”
As part of the creation of this new division, Darren Rowe has been appointed as Vice President, Head of UK Commercial Division. Mr. Rowe has 28 years of experience in the insurance industry, having held senior positions in several international broking houses. He joins Allied World from Arthur J. Gallagher & Co. (“AJG”), where he was a Client and Markets Director in the Market Management team. Prior to this role, he led Broking and Placement for the UK Retail Division at AJG.
The UK Commercial Division will be led by Mr. Rowe, alongside Alan Thorne (Vice President, UK Sales & Underwriting Manager) and Dawn Zacharow (Vice President, UK Underwriting Manager).
Alan Thorne said: “We are delighted that we can now provide clients with peace of mind regarding their coverage, leaving them free to focus on running their business. We also know this product is something that brokers have been asking for over a number of years, as it will help raise awareness of complementary coverages as well as provide a “catch-all solution” for clients.”
The main products covered by the UK Commercial Division are Commercial Combined, Property Owners, Contractors All Risks and Combined Liability.
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.
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 the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed acquisition by Fairfax Financial Holdings Limited (“Fairfax”); the failure to satisfy other conditions to completion of the proposed acquisition, including receipt of regulatory approvals; risks that the proposed acquisition disrupts our current plans and operations; the ability to retain key personnel; the ability to recognize the benefits of the proposed acquisition; the amount of the costs, fees, expenses and charges related to the proposed acquisition; 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.