Allied World Announces Senior Appointments for its Bermuda and International Platforms
ZUG, Switzerland, March 13, 2012 /PRNewswire/ --
Allied World Assurance Company Holdings, AG today announced the following senior appointments for its Bermuda and International insurance platforms.
Bermuda:
Peter Cooper has been promoted to Senior Vice President, Chief International Corporate Actuary, subject to Bermuda Department of Immigration approval. Mr. Cooper will continue to oversee and manage all elements of the corporate actuarial function relevant to reinsurance, Allied World's Lloyd's platform, Solvency II, ceded reinsurance, claims and international insurance, and continue to reside in Bermuda.
Mike Hoffmann will assume the role of Chief Underwriting Officer for the Bermuda insurance platform. In his expanded role, Mr. Hoffmann will oversee all of the Bermuda platform's underwriting policies and guidelines for its insurance lines of business. Mr. Hoffmann will remain resident in Bermuda and also continue to serve as the general casualty product line manager for Bermuda and International insurance.
Europe:
Conor Heery will, subject to the regulatory approval of the Central Bank of Ireland, assume the role of Managing Director for Allied World's Irish insurance companies, Allied World Europe and Allied World Reinsurance. Mr. Heery is Senior Vice President, Chief Financial Officer of Allied World Europe, and President of AWAC Services Company (Ireland) Limited. Mr. Heery will continue to be resident in Dublin.
David Newman will, subject to regulatory approval of the Central Bank of Ireland, assume the role of Chief Underwriting Officer for Allied World's European and Asian insurance platforms. Mr. Newman is currently Chief Underwriting Officer of the U.S. insurance platform, and Executive Vice President of New Products and New Markets for both the U.S. and International insurance platforms. Mr. Newman will be resident in Allied World Europe's London office.
Michael Walsh will assume the role of Chief Operating Officer of Allied World Europe. Mr. Walsh is currently Vice President, European Controller and Compliance Manager.
Frank D'Orazio, Allied World's President for Bermuda and International Insurance, commented, "We are fortunate to have the leadership and industry knowledge of Peter, Mike, Conor, David and Michael for our Bermuda and International insurance platforms. I wish them all the best for continued success in their new roles."
About Allied World Assurance Company
Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering 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 Fitch. Please visit http://www.awac.com for further information on 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 impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; 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.
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