PEMBROKE, Bermuda, Sept. 9 /PRNewswire-FirstCall/ -- Allied World
Assurance Company Holdings, Ltd (NYSE: AWH) today announced the promotion of
David Bell to the position of Chief Operating and Administrative Officer of
Allied World Assurance Company, Ltd, its Bermuda insurance subsidiary, from
his most recent position of Senior Vice President, Global Product Line
Manager, Professional Liability. He will continue to be based in Bermuda.
In his new role, Mr. Bell will plan and direct all aspects of the
organization's operations and strategic processes, procedures and controls. He
will implement and manage projects developed in conjunction with the President
and Chief Executive Officer to attain both short and long-term operational and
strategic goals for the Bermuda and international operations of Allied World.
Allied World's Chairman, President and CEO, Scott Carmilani, commented,
"I'm proud to announce David's new position within our company. His knowledge,
experience and enthusiasm have proven to be a great asset, and I'm confident
in his ability to guide Allied World in attaining our operational and
strategic goals as we move forward."
Mr. Bell began working with Allied World in February of 2002 when he
started the company's professional lines division. Previously, he worked with
Chubb Insurance where he managed the professional lines operations in the
Florida region, in addition to overseeing Chubb's corporate lobbying efforts
in Florida. Mr. Bell is also active within the nonprofit community, serving as
President Elect of PLUS (Professional Liability Underwriting Society).
Mr. Bell holds a degree in Finance from the University of Montana.
About Allied World Assurance Company
Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is
a global provider of insurance and reinsurance solutions, offering superior
client service through offices in Bermuda, the United States and Europe. Our
insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best
Company and A- (Strong) by Standard & Poor's. Our Bermuda and U.S. insurance
and reinsurance subsidiaries are rated A2 (Good) by Moody's Investors Service.
For further information on Allied World, please visit our website at
www.awac.com.
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; investigations of market practices and
related settlement terms; 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, Ltd
09/09/2008
CONTACT: Media, Faye Cook, AVP, Marketing & Communications,
+1-441-278-5406, faye.cook@awac.com; or Investors, Keith J. Lennox, Investor
Relations Officer, +1-212-635-5319, keith.lennox@awac.com, both of Allied
World Assurance Company Holdings
Web site: http://www.awac.com
(AWH)
