ZUG, Switzerland--(BUSINESS WIRE)--Allied World Assurance Company Holdings, AG (NYSE:AWH) today announced the launch of a new Global Crisis Management Division which is comprised of Structured Trade Credit, Political Risk, Multi-Buyer Trade Credit & Product Recall which will operate under the leadership of Todd Germano, Executive Vice President, Global Crisis Management Division.
This new division will offer an array of products that provide coverage to help organizations prepare for, manage, and recover from issues and incidents that can threaten many facets of their business, including brand, reputation, finances, and operations. These events require highly specialized products, services and vendors to quickly and effectively respond to a crisis. Allied World will be offering specialty coverage that requires targeted knowledge of the exposures, trends and markets in order to adequately manage the risks associated with the line of business.
Frank D’Orazio, President, Underwriting & Global Risk Group at Allied World commented, “The customers we serve have increasingly global and complex business models that require a unique understanding of risk and specialized underwriting approach. This division will enable us to have more meaningful relationships with our existing customer base while broadening the reach of our business.”
Mr. Germano commented, “We have made a significant investment in building this comprehensive crisis management platform which will be led by four industry veterans with extensive expertise in their sectors. The risk landscape is dynamic and continually evolving, and through this new group, we will offer solutions-based underwriting for an optimal level of customization.”
Biographical information on the leadership team of the new division is included below:
Todd Germano is Executive Vice President, Global Crisis Management Division and oversees all components of this business and its product offerings. Previously, he served as President, Allied World U.S. Property & Casualty.
Bill Mullan is Senior Vice President and Chief Credit Officer, Global Crisis Management Division. Prior to joining Allied World, Bill spent many years at AIG with responsibilities spanning across accounting, treasury and risk management functions. Bill has 17+ years of Trade Credit experience, establishing credit procedures, setting underwriting authorities and ensuring proper systems and controls.
Nick Hedley is Senior Vice President, Global Crisis Management Division, and runs the Structured Trade Credit and Political Risk business of Allied World. Based in London, Nick has over 30 years of experience in the credit and political risk markets.
Kent Paisley is Senior Vice President, Global Crisis Management Division, and leads Allied World’s Multi-Buyer Trade Credit Insurance business. Kent joined Allied World in 2013 as Canadian Head of Specialty Lines as part of the team charged with establishing the Company’s Canadian branch. Kent has 28 years of experience in trade credit insurance and banking.
Thomas Mangan is Vice President, Global Crisis Management Division and manages the Product Recall and Product Contamination offerings on behalf of Allied World. Thomas has been a property casualty underwriter with national carriers for more than 27 years.
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: https://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.
