ZUG, Switzerland, May 17, 2011 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Magnus McGurk has joined Allied World Europe as Business Development Manager (Scotland) for SME Professional Lines. Mr. McGurk will be based in Scotland and will oversee business development and marketing in the Scotland and Northern Irish United Kingdom market.
Frank D'Orazio, President, Bermuda & International Insurance, commented, "We are very pleased that Magnus has joined our European team. His industry knowledge and extensive contacts throughout Scotland and Northern Ireland will be a great asset to the company. We look forward to expanding the current book of business regionally."
Mr. McGurk has over a decade of experience in the Professional Lines insurance industry. Prior to joining Allied World, he was most recently Chubb Specialty Insurance Manager for Scotland at Chubb Insurance Company of Europe where he focused exclusively on the Scotland region for Professional Lines. Mr. McGurk has a degree in Risk Management from Glasgow Caledonian University.
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 branches and affiliates. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company, and our Lloyd's Syndicate 2232 is rated A+ (Strong) by Standard & Poor's and Fitch. Please visit our website at 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.
SOURCE Allied World Assurance Company Holdings, AG