ZUG, Switzerland, March 15, 2011 /PRNewswire/ --
Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that its Lloyd's syndicate, Syndicate 2232, operating though Capita 2232 Services Pte. Ltd., has been authorized to write direct and facultative casualty and professional lines business from Lloyd's Asia in Singapore, in addition to its previously announced range of treaty products. Ronak Shah, Vice President for Direct and Facultative Casualty in Asia-Pacific will be responsible for the underwriting of these lines of business and will report to Bruce Ford, Principal Officer of Capita 2232 Services Pte. Ltd. writing on behalf of Syndicate 2232.
Capita Managing Agency Limited, the Lloyd's and U.K. Financial Services Authority approved managing agent of Syndicate 2232, received approval last year from the Monetary Authority of Singapore (MAS) and Lloyd's Asia to register and operate a service company, Capita 2232 Services Pte. Ltd. through which Syndicate 2232 underwrites from Singapore. For more information on capabilities in Asia-Pacifc, please contact Ronak Shah at firstname.lastname@example.org. For more information on Syndicate 2232, please contact Darren Powell, Active Underwriter, at email@example.com.
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