Allied World Europe Launches SME360(SM) Product Suite

PEMBROKE, Bermuda, May 19 /PRNewswire/ -- Allied World Assurance Company Holdings, Ltd (NYSE: AWH) announced today that Allied World Europe has launched a unique product suite specific to small-to-medium enterprises called SME360(SM). SME360 was produced by insurance and legal professionals to provide comprehensive professional liability coverage and on-going claims support to a diverse spectrum of businesses in the United Kingdom and European Union.

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SME360 comprises 11 core Professional Indemnity products segmented by industry, which includes Architects, Accountants, Actuaries, Design & Construction, Engineers, Information Technology, Insurance Brokers, Management Consultants, Media, Miscellaneous, and Surveyors.  SME360 also comprises additional coverages that complete the suite, including Directors & Officers, Crime, Pension Trustee Liability, Nonprofit/Charity Liability, LLP/Partnership Liability, Fortress (blend of D&O / EPL / Entity) and Management Liability (blend of D&O / PTL / EPL / Entity / Crime) coverage. The maximum limit on Professional Indemnity products is 5,000,000 (pounds sterling), the maximum limit for Non-Professional Indemnity products is 10,000,000 (pounds sterling) and the maximum limit for Blended D&O and Professional Indemnity products is 5,000,000 (pounds sterling).

Kevin Cleary, Vice President, SME, Professional Lines in Europe commented, "Our team has extensive experience underwriting these lines in the London and extended United Kingdom marketplace, and we are excited about the opportunities in this market segment. We look forward to fostering mutually beneficial relationships with our trading partners and policyholders by providing coverage as well as support and guidance through our in-house claims and risk management teams."

Kevin Cleary joined the Allied World Europe team in February to develop and launch the SME division. Mr. Cleary has previous underwriting experience at DUAL Corporate Risks and Chubb in Manchester, England.

Actual coverage may vary and is subject to policy language as issued.

About Allied World Assurance Company

Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through offices in Bermuda, Europe, Hong Kong, Singapore and the United States. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company. For further information on Allied World, please visit our website at www.awac.com.

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; investigations of market practices and related settlement terms; 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, Ltd