PEMBROKE, Bermuda, February 26, 2010 PRNewswire-FirstCall/ Allied World Assurance Company, Ltd, a member company of Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today announced the launch of a new primary Directors & Officers product, BEYOND.

BEYOND was designed in Hong Kong, for Asia and represents a continuation of Allied World’s commitment to meeting the changing needs of clients through product innovation.

The BEYOND product re-engineers the traditional D&O format.

Benjamin Howell, Vice President, Professional Lines, commenting from Hong Kong, says the product creates a unique advantage for directors and officers, by separating the protection available for their personal wealth from that which secures or reimburses their company’s balance sheet.

Mr. Howell says: “As D&O policies have evolved, additional protections have been added for the company to make them more marketable. However, these benefits can be at the expense of the core protection for directors and officers, leaving their personal wealth at risk.”

“With BEYOND, we have deconstructed the current D&O format and produced a structure which builds a wall against limit erosion, between directors and officers on the one hand, and their company on the other.”

“In addition to removing the dilutive drawbacks of a shared limit for the betterment of directors and officers, we have expanded the types and level of protection available for the corporation.” BEYOND is also designed to allow clients (in consultation with their insurance advisor) to tailor coverage, isolate limits (including for prospectus liabilities) and match the specific risk priorities of directors, officers and the company.

“We are able to facilitate a number of alternatives to the standard BEYOND limits structure. We have designed a product with a high degree of flexibility which is capable of producing a pure Side A Non-Rescindable cover, a traditional Side A, B & C D&O cover, or even a protection with the company as the sole beneficiary, to which additional protections like professional indemnity or crime can be tied.”

Mr. Howell says the enhancements effected with BEYOND come at a time when jurisdictions like Hong Kong are exploring reforms to facilitate class actions.

“Directors should begin examining, with a critical eye, the substantive cover they are receiving under market D&O forms and asking the question: ‘am I covered?’”

BEYOND is available through a limited number of specialist insurance advisors with Limits of up to US$25,000,000.

For more information on this new product, please contact:

Benjamin Howell
Vice President, Professional Lines, Asia
+852 3405 7731
ben.howell@awac.com

About Allied World Assurance Company

Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through offices in Bermuda, Europe, Hong Kong, Singapore and the United States. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company. 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 including those related to the ongoing financial crisis; 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.

Media:
Faye Cook
VP, Marketing & Communications
+1- 441-278-5406
faye.cook@awac.com

Investors:
Keith J. Lennox
Investor Relations Officer
+1-646-794-0750
keith.lennox@awac.com