Allied World Announces Senior-Level Promotions

PEMBROKE, Bermuda, March 16, 2010 - Allied World Assurance Company Holdings, Ltd (NYSE: AWH) announced today
a number of senior-level promotions effective March 1, 2010.

In Bermuda, Tracey Gibbons was promoted from Vice President, Casualty
Treaty Reinsurance to Senior Vice President, Specialty Reinsurance. Marchelle
Lewis was promoted from Vice President, Treasurer to Senior Vice President,
Treasurer.

In Europe, Gary Lill has been promoted from Vice President, Professional
Lines to Senior Vice President and European Professional Lines Manager. Ed
Beckwith has been promoted from Vice President, Errors & Omissions (E&O) to
Senior Vice President and European Professional Indemnity Manager.

In the United States, John Gauthier was promoted from Senior Vice
President, Chief Investment Officer to Executive Vice President, Chief
Investment Officer. Joseph Labieniec was promoted from Assistant Vice
President, E&O to Vice President, E&O.

Scott Carmilani, Chairman and CEO, commented, "I am pleased to recognize
the outstanding contributions of these individuals to the growth and
sustainability of Allied World. Their commitment to our organization is
exemplary and I am pleased to acknowledge their accomplishments."

Katherine Richardson, Senior Vice President and Global Head of Human
Resources said, "Allied World proactively promotes the career growth of its
employees. Attracting and retaining talent is a critical part of our
organization's culture and I am pleased that our executive management team
encourages upward movement from within."

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, Europe, Hong Kong, Singapore and the United States. 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 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.

Media, Faye Cook, VP, Marketing & Communications, +1-441-278-5406, faye.cook at awac.com; or Investors, Keith J. Lennox, Investor Relations Officer, +1-646-794-0750, keith.lennox at awac.com, both of Allied World Assurance Company Holdings, Ltd