Allied World Announces New General Casualty Team Members in Bermuda

PEMBROKE, Bermuda - Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today announced three new team members — Michael Costello, Karl Jordan and Patrick Kenahan — in its Bermuda General Casualty department. The expansion of the department follows a recent increase in its excess casualty capacity from US$50M to US$75M for North American and European placements underwritten in Bermuda and Europe.

Mike Hoffmann, Senior Vice President, Bermuda and International Product Line Manager, General Casualty, commented, “I’m very pleased at the growth of our general casualty department. In addition to our increase in excess casualty capacity, the hiring of these talented individuals demonstrates our dedication to meeting the needs of our clients. The collective knowledge and superior service standards these new team members bring will be a great asset to our team. I look forward to the opportunities our expanded department will provide to our clients and brokers.”

Michael Costello joined Allied World on April 8th as Senior Vice President, Bermuda General Casualty Manager and will report to Mike Hoffmann. Mr. Costello comes to Allied World after more than eight years with AIG Cat Excess (formerly Starr Excess) in Bermuda. In his most recent role for AIG, Mr. Costello was Senior Vice President/Manager of a large portfolio of Excess Casualty Fortune 1000 business. Prior to this, he served Starr Excess as Vice President of Excess Casualty with responsibility for underwriting a complex book of casualty business. Prior to AIG, he was a primary casualty underwriter with a focus on difficult-to-place risks for both Kemper and Zurich Insurance Companies. Mr. Costello is a graduate of St. Johns University with a Bachelor of Science Degree. Contact Mr. Costello at +1-441-278-5483 or at michael.costello@awac.com.

Karl Jordan joined Allied World on April 8th as Vice President, General Casualty Team Leader, reporting to Michael Costello. Previous to his position with Allied World, he served as Vice President - Casualty in the Bermuda office of AIG Cat Excess and Underwriting Director - Umbrella & Excess for CNA’s New York Metro Branch. Prior to that, he worked at Marsh USA as Vice President, Marsh Global Broking working as an Excess Casualty Coordinator; AIG Global Marine & Energy as Assistant Vice President - NE Hub Manager, responsible for the production Excess Casualty energy business in the Northeast; and Chubb Insurance in New York as Assistant Vice President and Regional Practice Leader - Excess Casualty. Mr. Jordan graduated from Syracuse University where he earned a Bachelor of Science Degree in Advertising. Contact Mr. Jordan at +1-441-278-5505 or at karl.jordan@awac.com.

Patrick Kenahan joined Allied World on April 7th as Vice President, General Casualty Team Leader, reporting to Michael Costello, and brings with him 14 years of experience in the insurance industry. He most recently held the position of Vice President - Excess Casualty at AIG Cat Excess. Prior to that position, Mr. Kenahan was the Mid-Atlantic Regional Manager for Zurich North America’s Excess Casualty division. Prior to that, he held positions within Zurich and AIG Excess, formerly known as American Home, in New York where he underwrote national account lead umbrella business. He began his career at Lancer Insurance Company underwriting primary commercial auto business and developing their livery insurance product. He graduated from Fordham University with a Bachelor of Arts Degree in Accounting. Contact Mr. Kenahan at +1-441-278-5517 or at patrick.kenahan@awac.com.

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, 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

Media, Faye Cook, VP, Marketing & Communications, +1-646-794-0543, faye.cook at awac.com; Investors, Keith J. Lennox, Investor Relations Officer, +1-646-794-0750, keith.lennox at awac.com, both of Allied World