Allied World Europe Launches S.M.E. Professional Lines Division; Appoints Kevin Cleary

PEMBROKE, Bermuda, February 9 /PRNewswire/ --
Allied World Assurance Company Holdings, Ltd (NYSE: AWH) announced today that Allied World Assurance Company (Europe) Limited (Allied World Europe) has launched a S.M.E. (small to medium sized enterprises) division that will focus on offering professional lines products to the London market and throughout the United Kingdom and the European Union. Kevin Cleary, who recently joined Allied World Europe as Vice President, will lead the division. Mr. Cleary will be responsible for building out the division and developing a comprehensive S.M.E. product suite.
John Redmond, President of Allied World Europe, commented, "We are very excited to launch this division as we recognize the growing opportunities in this particular market. Allied World Europe has been exploring S.M.E. Professional Lines for some time and I am confident that Kevin will succeed in growing a profitable book of business. He has a considerable amount of experience and expertise in this area."
Prior to joining Allied World Europe, Mr. Cleary was most recently UK Development Manager for DUAL Corporate Risks. He started with DUAL in 2005 as Regional Manager, overseeing sales and marketing in addition to setting up the regional platform. Mr. Cleary began his career at Chubb in Manchester as a Directors and Officers underwriter.
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 including those related to the ongoing financial crisis; 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.
Media, Faye Cook, VP, Marketing & Communications, +1-441-278-5406, faye.cook@awac.com; or Investors, Keith J. Lennox, Investor Relations Officer, +1-646-794-0750, keith.lennox@awac.com, both of Allied World Assurance Company Holdings, Ltd