Allied World Appoints Senior Staff; Bolsters International Strategy
May 31, 2011 at 12:00 PM EDT
ZUG, Switzerland, May 31, 2011 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Ed Moresco has been appointed Senior Vice President, Bermuda & International Product Line Manager, Professional Lines, and Ian Theato has been appointed Senior Vice President, International Business Development. Both appointments are effective immediately.
Mr. Moresco will be based in Allied World's Bermuda office and will oversee the Bermuda and International Professional Lines division, responsible for the underwriting, marketing and management of Allied World's Bermuda, Europe, and Asia Professional Lines insurance platforms. He has 15 years of experience in the insurance industry and has been an integral part of Allied World's Professional Lines division in the U.S. since joining the company in 2008. Prior to Allied World, Mr. Moresco was Senior Vice President for Financial Lines at AIG Small Business. He received his undergraduate degree from York College of Pennsylvania.
Mr. Theato will be based in Allied World's London office and will be responsible for distribution management and regional business development for Allied World's international insurance platforms. He joined Allied World in 2003 to create and lead the European Professional Lines division in London, and in 2008 was appointed to Senior Vice President, Bermuda & International Product Line Manager, Professional Liability. Prior to Allied World, Mr. Theato worked at Gulf Insurance where he managed a global portfolio of Professional Lines. He has over 25 years of experience in the industry.
Frank D'Orazio, President, Bermuda & International Insurance commented, "We wish Ed and Ian success in their new roles within Allied World's Bermuda and International platforms, and look forward to their future contributions to the company."
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 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