ZUG, Switzerland, January 12, 2012 /PRNewswire/ --
Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World's Europe and Asia platforms have launched the FlexField Product Suite that expands Allied World's current professional lines capabilities. The FlexField suite of four excess policies has been crafted to fill specific coverage gaps and increase the level of protection against certain perils, by responding in a dynamic fashion to an otherwise static insurance tower. With FlexField, clients are offered a comprehensive array of features and benefits, including a secondary response cover for sub-limits, protection against the financial impairment of underlying layers and targeted additional limits which augment standard excess coverage.
Ed Moresco, Senior Vice President, Bermuda & International Product Line Manager, Professional Lines commented, "I am pleased to announce the launch of FlexField for our brokers and clients spanning both Europe and Asia. Furthering long-term partnerships with our trading partners and insureds by offering value-added innovative products is a top priority for Allied World, and we believe the FlexField suite will address specific coverage gaps that are a concern for our insureds."
Ben Howell, Vice President, Professional Lines for Allied World Asia will oversee the product line in Asia Pacific and Gary Lill, Senior Vice President, Professional Lines for Allied World Europe will oversee the product line in Europe. For more information please contact Ben.Howell@awac.com in Hong Kong or Gary.Lill@awac.com in London.
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.
SOURCE Allied World Assurance Company Holdings, AG