PEMBROKE, Bermuda, September 7 /PRNewswire/ --
Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today announced that it will open a branch office in Zug, Switzerland that offers reinsurance products throughout Europe and beyond. The office, located at Lindenstrasse 4, 6340 Zug/Baar, will officially open on October 1, 2008.
John Redmond, President of Allied World Europe said, "As part of our constant efforts to promote growth and accessibility to our clients, we are proud to announce a new Swiss office. Switzerland is an established, mature reinsurance hub and a central location to service the rest of the continent. We look forward to this next step in building out Allied World's European operations."
Marie-Laure Queneuder, Vice President, International Treaty Reinsurance, will be responsible for developing and managing Allied World's Swiss reinsurance operations. Ms. Queneuder, formerly based in Allied World's Bermuda headquarters, will now be based in Zug and will continue to work closely with Clare Himmer, Senior Vice President, International Treaty Reinsurance, located in Bermuda.
"We are excited to have a physical presence in Switzerland," said Ms. Queneuder. "In addition to the build out of our U.S. reinsurance company this year, our new Swiss office adds to the expansion of Allied World's reinsurance operations."
The new office's operations will focus on providing a range of reinsurance products including property catastrophe, property risk, motor, general liability, employers' liability, professional lines, and miscellaneous lines of business.
To contact Allied World's Swiss office, please email marie-laure.queneuder@awac.com.
Allied World has its corporate headquarters in Bermuda and offices located in Atlanta, Boston, Chicago, Dublin, London, New York and San Francisco.
About Allied World Assurance Company
Allied World's Swiss branch office is a branch of Allied World Assurance Company (Reinsurance) Limited, which is regulated by the Irish Financial Services Regulatory Authority.
Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of insurance and reinsurance solutions, offering superior client service through offices in Bermuda, the United States and Europe. Our insurance and reinsurance subsidiaries are rated A (Excellent) by A.M. Best Company and A- (Strong) by Standard & Poor's. Our Bermuda and U.S. insurance and reinsurance subsidiaries are rated A2 (Good) by Moody's Investors Service. 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.
Web site: http://www.awac.com
