MEDIA RELEASE PR36271
Allied World Launches Professional Lines Excess Solutions in Hong Kong
PEMBROKE, Sept. 24 /PRNewswire-AsiaNet/ --
Allied World Assurance Company, Ltd, a member company of Allied World Assurance Company Holdings,
Ltd (NYSE: AWH), today announced the launch by its Hong Kong branch office of a suite of excess of loss
products developed specifically for the Asian marketplace: REFLEX, FLEXION and FLEXCESS (collectively
the 'Excess Suite').
This Excess Suite is the first to market in a pipeline of innovative
products, highlighting Allied World's ongoing commitment to providing its
producing partners and clients with comprehensive and tailored products. These
products respond to contemporary issues, facilitate counter-party credit risk
management for clients and assist with managing the risk of underlying insurer
insolvency.
William Cotter, Senior Vice President, Asia, commented, "The Excess Suite
represents the first distillation of our promise to add value to the Asian
marketplace by helping clients to manage growing risks. We are addressing
contemporary concerns, which have arisen directly and indirectly as a
consequence of the global recession."
Benjamin Howell, Vice President, Professional Lines, explains: "As a new
market entrant we have listened to our partners and have produced a suite of
products which address their most acute concerns and needs. The result is a
range of products which offer unique placement structures. For example, the
FLEXION product enables Allied World to provide additional protection from an
excess position for coverage that has traditionally been sub-limited within a
primary layer. FLEXCESS, on the other hand, assists in protecting underlying
insurance layers against insurer insolvency."
The Excess Suite products are available in excess of all Professional
Lines Products with limits of up to US$25,000,000.
For more information on these new products, 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, our Bermuda insurance and reinsurance
subsidiary, has an authorized branch office in Hong Kong from which it
conducts general insurance business in certain specified classes. 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
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