Allied World Reinsurance Opens Miami Office; Appoints William Turkel Senior Vice President, General Manager, Latin America & Caribbean

ZUG, Switzerland, May 1, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today the opening of Allied World Reinsurance Company's new office in Miami in order to further expand its operations in Latin America, and has appointed William Turkel as Senior Vice President, & General Manager, Latin America & Caribbean.  He will report directly to Kevin Marine, Executive Vice President, International & Global Specialty. The Miami office will be Allied World Re's hub for all classes of treaty business in the region.

Mr. Turkel has 17 years of varying experience in the industry.  Prior to joining Allied World, he was most recently Senior Vice President at Platinum Underwriters Bermuda, responsible for Latin America, Caribbean, Canadian and Asia treaty reinsurance business.

Mr. Marine commented, "We are very excited that Will has joined Allied World Re's growing team.  I have personally known Will for 15 years and I am confident that with his experience and extensive contacts in Latin America and the Caribbean, he will provide invaluable leadership to our reinsurance team in Miami.  I look forward to helping him grow this book of business. "

For more information on Allied World's Miami office, please contact William Turkel, Senior Vice President & General Manager, Latin America & Caribbean:  [email protected]. The office will be located at 800 Brickell Avenue Miami, Florida 33131.

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 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