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Allied World Europe Advances Marine Division; Appoints Pene Reuben, Assistant Vice President, Marine Liability

Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that Allied World Europe will enter the marine liability market, which will further complement the company’s current marine cargo offering. Allied World has appointed Pene Reuben, Assistant Vice President, Marine Liability, to develop and manage the product line.

Bart Grefe, Vice President, Marine, Allied World Global Markets, said “We are delighted to have recruited Pene to build out our marine liability offering, and we welcome him to our growing marine team. Our goal has always been to offer a comprehensive marine product suite, adding additional classes to expand our primary capabilities so that we can offer a portfolio that provides state-of-the-art coverage and excellent levels of service. With Pene’s arrival, we will have a first class marine offering for the London market.”

Julian James, President of Allied World Global Markets commented, “This hire is the latest example of our strategy of building out our European business by recruiting great talent to expand our portfolio to offer clients a long-term commitment in the product lines they need.”

Prior to joining Allied World, Mr. Reuben was Senior Marine Liability Underwriter at Royal & Sun Alliance and Deputy Underwriter at The Shipowners Mutual.

For more information on Allied World Europe’s marine product suite, please contact Bart Grefe at or +44 207 220 0716.

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 AA- by Fitch.

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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 adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; 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.


Allied World
Faye Cook, +1-441-278-5406
Senior Vice President, Marketing & Communications
Sarah Doran, +1-646-794-0590
Senior Vice President, Investor Relations and Treasurer

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