Allied World Launches Multinational Product Initiative
July 30, 2013 at 16:00 PM EDT
Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today the official launch of Allied WorldWideSM, a newly created platform designed to meet the insurance coverage needs of multinational clients.
Allied WorldWide was designed to improve the buying process that multinational companies face when purchasing insurance protection for worldwide locations. It offers key types of coverage to address a variety of needs, is flexible and customizable, and aligns with local legislation, customs and regulations. Further, customers will have access to a single “point of contact” with respect to their coverage and to global teams of underwriting and claims contacts with local market expertise.
Allied WorldWide will offer Directors & Officers, Employment Practices Liability (EPL), Excess Casualty, Primary Foreign Casualty, and Environmental Liability, which will be available through Allied World’s branch office locations in the United States, Bermuda, Europe and Asia.
Allied WorldWide is led by Todd Germano, Executive Vice President, Managing Director, Allied World Assurance Company, AG. Mr. Germano commented, “Our multinational offering has been expertly crafted to provide meaningful protection that addresses typical multijurisdictional challenges such as currency, regulatory, insurance and language differences worldwide. Allied WorldWide can serve as the single-source insurance carrier offering one program that covers several exposures for a client.”
About Allied World
Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers 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.
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.