Allied World U.S. Announces Automated Renewal Underwriting Platform

ZUG, Switzerland, Feb. 15, 2011 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) today announces that Allied World U.S. has implemented a new renewal underwriting approach for qualifying policies to automate renewal processing for small business.  This process will enable the release of renewal quotes and bound policies utilizing the most recent underwriting information provided.  

"We are thrilled to announce this new service to our producers and policyholders," commented Gordon Knight, President Allied World U.S.  "This new capability represents a strategic investment in our operational platform designed to bring greater efficiency to our producer partners by simplifying and automating the renewal underwriting process.  Innovation in product and service continues to be a driving force in our approach to the marketplace.  We are constantly looking for new and creative solutions like automated renewal underwriting to help us more effectively service our growing book of business, which is now over 40,000+ customers."

The automated renewal process is currently being deployed for Standard Lawyers and (i-bind) Errors and Omissions businesses.  Allied World will continue to integrate and launch the automated renewal process for additional products.

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