|[January 16, 2014]
Allied World Appoints Lou Iglesias, President North America Platform
ZUG, Switzerland --(Business Wire)--
Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today
that Lou Iglesias has been appointed President for Allied World North
America. Mr. Iglesias is currently President, U.S. Property & Casualty.
He succeeds Gordon Knight who is retiring at the end of the month and
who held the position since 2008. Mr. Iglesias has been part of the
succession plan to follow Mr. Knight since joining the company in 2012.
Mr. Knight oversaw the transformation of Allied World's U.S. operation
into a specialty, middle market carrier that more than doubled in size
during his tenure. He will remain on in an advisory capacity to the
company, and has entered into a related five-year Employment/Consulting
In his new role, Mr. Iglesias will oversee profitability, production and
distribution for all lines of business including the Property & Casualty
and Professional Lines books across Allied World's 11 offices throughout
the U.S. and Canada.
President and Chief Executive Officer Scott Carmilani commented, "Gordon
has been a vital part of Allied World's leadership team for the past six
years. He built a specialty franchise in the U.S., diversifying our
portfolio and distribution channels, and doubling our book of business.
I am personally grateful for his service, and I look forward to
continuing to work with him."
Mr. Carmilani continued, "Lou has been a great addition to the Allied
World team. His industry experience, technical expertise and commitment
to prudent underwriting have earned him an exceptional reputation in the
market. I am immensely confident in his abilities, and I look forward to
working with him closely to continue building our North American
franchise in the coming years."
Mr. Iglesias has almost 30 years of experience in the insurance
industry. Prior to joining Allied World, Mr. Igesias spent 18 years at
American International Group (AIG) in varying management positions,
including: CEO for Commercial Casualty, President for the Risk
Management Group, President for AIG Environmental and President of AIG
Construction. Prior to AIG, Mr. Iglesias worked at Travelers and
Reliance insurance companies. He holds a degree in Business Management
from the State University of New York at Fredonia and holds both CPCU
and ARM (News - Alert) designations.
About Allied World
Allied World Assurance Company Holdings, AG, through its subsidiaries
and brand known as Allied World, is a global provider of innovative
property, casualty and specialty insurance and reinsurance solutions.
Allied World offers superior client service through a global network of
offices and branches. All of Allied World's rated insurance and
reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard
& Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+
by Standard & Poor's and Fitch.
Please visit the following for further information on Allied World: Web: www.awac.com
| Facebook (News - Alert): www.facebook.com/alliedworld
| LinkedIn (News - Alert): http://www.linkedin.com/company/Allied-World.
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 adequacy of our loss reserves;
negative rating agency actions; greater frequency or severity of
unpredictable catastrophic events; the impact of acts of terrorism and
acts of war; 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.
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