Allied World's Barry Zurbuchen Appointed Chief Risk Officer

PEMBROKE, Bermuda, October 15, 2010 - Allied World Assurance Company Holdings, Ltd today announced that Barry
Zurbuchen, Senior Vice President, Modeling and Corporate Pricing of Allied
World Assurance Company Ltd, has been named that company's Chief Risk
Officer.

In his role as Senior Vice President, Modeling and Corporate Pricing, Mr.
Zurbuchen is responsible for the company's reinsurance, insurance and
enterprise risk modeling activities and is a central resource for all pricing
models. He has been integral to the development and enhancement of the
company's Economic Capital Model. In his new role as Chief Risk Officer, he
will continue to oversee the Economic Capital Model and the catastrophe
modeling throughout Allied World. In addition, he will oversee Enterprise
Risk Management for Allied World globally, including assuring compliance with
regulators and the Solvency II directive.

Mr. Zurbuchen has 23 years of experience in the insurance industry. He is
a Fellow of the Casualty Actuarial Society, and graduated with the highest
departmental distinction from the University of Illinois with a B.S. degree
in Actuarial Science.

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 a global
network of branches and affiliates. Our insurance and reinsurance
subsidiaries are rated A (Excellent) by A.M. Best Company, and our Lloyd's
Syndicate 2232 is rated A+ (Strong) by Standard & Poor's and Fitch. Please
visit our website at 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; or Investors: Keith J. Lennox, Investor Relations Officer, +1-646-794-0750, keith.lennox at awac.com