Allied World Wins Awards for Creative Design at IMCA Showcase Competition

PEMBROKE, Bermuda, July 7, 2010 - Allied World Assurance Company Holdings, Ltd (NYSE: AWH) announced today
that the company has won several creative design awards at the Insurance
Marketing and Communications Association (IMCA) 52nd Annual Showcase Awards
Competition held in Atlanta, Georgia on Tuesday, June 29, 2010.

The IMCA is an industry association of insurance communications
professionals who specialize in marketing, marketing communications,
advertising, sales promotion and public relations, and whose collective
membership represents the insurance and financial services industries
throughout the United States, Canada, Mexico and Bermuda. The organization
represents over 120 companies, including some of the largest property
casualty writers, multi-line insurance companies and brokerage firms in the
United States, regional and specialty companies, general agencies and
prominent industry suppliers.

Allied World received five awards in various categories for support
marketing initiatives executed in 2009. Promotional marketing initiatives
were primarily managed by Allied World's in-house creative services team, led
by Director and lead designer, Thomas Pytel, Jr.

    Awards, categories and winning projects include:

    -- Best of Show - Print Product or Image Advertising/Marketing, In-House
       B2B: Allied World's U.S. Marketing Promotional Kit, an educational
       communications piece that highlights the company's domestic insurance
       capabilities and suite of products.
    -- Best of Show - Print Product or Image Advertising, In-House B2B:
       Corporate Print Advertisements produced for sub-brands of Allied
       World.
    -- Best of Show - B2B Sales/Marketing/Branding Promotion, Single Item <
       US$20K: Allied World's U.S. Environmental Promotional Marketing Kit,
       an educational marketing kit that supported the national product
       launch; designed in conjunction with Wessel Design.
    -- Best of Show - Creative Development on a Shoestring: A unique
       Stand-Alone Brochure developed to market Allied World's i-bind(R)
       errors and omissions capabilities; designed in-house.
    -- Award of Excellence - Annual Reports - Publicly Traded: Allied
       World's 2009 Annual Report; designed by RBK Advertising & Design.

Faye Cook, Vice President, Marketing & Communications, commented, "Allied
World is truly honored to receive these awards. As we continue to provide
innovative products to the market, the efforts of our award-winning creative
services team are an important part of how we differentiate ourselves from
the competition."

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; 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