Private Banking Industry News

PEMBROKE, Bermuda, Nov. 3 /PRNewswire-FirstCall/ -- Allied World Assurance Company, Ltd, a member company of Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today announced that Eugene Raitt, Senior Vice President, Accident & Health and Chief Marketing Officer, Asia, has been elected Chairman of the Board for the Direct Marketing Association for 2010. Mr. Raitt served as Board Vice Chairman in 2009.

The Direct Marketing Association (DMA) is a global trade association, with over 3,100 corporate members, of businesses and nonprofit organizations using and supporting multichannel direct marketing tools and techniques. The DMA advocates standards for responsible marketing, promotes relevance as the key to reaching consumers with desirable offers, and provides research, education, and networking opportunities to improve results throughout the end-to-end direct marketing process.

At Allied World, Mr. Raitt works in Hong Kong, introducing accident and health insurance to the market. Direct marketing is his primary distribution strategy, focusing on developing the sponsored market business. Prior to joining Allied World, Mr. Raitt worked at AIG for 16 years launching their direct marketing businesses throughout Asia, beginning in Japan, then Korea, Taiwan, China, Thailand, Hong Kong and India.

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 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 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 Holdings, Ltd