MEDIA RELEASE PR36950
Allied World Hong Kong Launches Bankers' Wrap
PEMBROKE, Nov. 5 /PRNewswire-AsiaNet/ --
Allied World Assurance Company, Ltd, a member company of Allied World
Assurance Company Holdings, Ltd (NYSE: AWH) today announced the launch of a
new product for Asian banks.
Bankers' Wrap follows the recent launch of the REFLEX, FLEXCESS and
FLEXION products and highlights Allied World's ongoing commitment to adding
value to the Asian marketplace. The product, unique to the Asian market,
provides a new level of protection for Banks at a time when they are facing
significant litigation exposures and an uncertain operational risk outlook.
Benjamin Howell, Vice President, Professional Lines, commented from Hong
Kong, "Many market participants are restricting coverage for banks at a time
when their clients need them most. Conversely, Allied World has stepped up
with an innovative excess solution through which banks can achieve a range of
structures, with unique benefits, across their Professional Lines insurance
placements. Bankers' Wrap is Allied World Hong Kong's recognition that bank
operational risk management is a sophisticated area which requires a
customized approach to catastrophic events."
The product is available through a limited number of specialist broker
channels with a limit of up to US$25,000,000.
For more information on this new product, please contact:
Benjamin Howell
Vice President, Professional Lines, Asia
+852-3405-7731
ben.howell@awac.com
About Allied World Assurance Company
Allied World Assurance Company, Ltd. has a branch office in Hong Kong,
which is regulated by the Office of Commissioners of Insurance, Hong Kong.
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, the United States, Europe and Hong Kong. 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
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 the ability to recognize the benefits of the Darwin
Professional Underwriters, Inc. acquisition; 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.
SOURCE: Allied World Assurance Company, Ltd
CONTACT: 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
Translations:
NEWS 
