Allied World Announces New Operating License in Malaysia

ZUG, Switzerland, December 1, 2011 -

Allied World Assurance Company Holdings, AG (NYSE: AWH) announced that Allied World Assurance Company, Ltd will commence writing reinsurance business in Malaysia from its Labuan branch.  The official operating license was granted in July 2011 and will allow Allied World to write all classes of treaty reinsurance and long-tail facultative lines including: Professional Lines, General Casualty and Healthcare Liability business in Malaysia.  All lines of business will be managed from Allied World’s Singapore branch office.

Bruce Ford, Senior Vice President, International Treaty & Singapore and Labuan Branch Manager commented, “Allied World continues to expand its global footprint. This new operating license allows for continued expansion in the Asia Pacific region; offering a broad range of products for our clients and brokers.”

For more information on our product offerings in the Asia Pacific region, please contact Bruce Ford at bruce.ford@awac.com

About Allied World Assurance Company

Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering 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 www.awac.com for further information on 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 impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; 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; 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.

Media: Faye Cook, VP, Marketing & Communications, +1-441-278-5406, faye.cook at awac.com, Investors: Keith J. Lennox, Investor Relations Officer, +1-646-794-0750, keith.lennox at awac.com