The newly formed, Bermuda-based, Allied World Assurance Company, Ltd. (AWAC) announced the appointment of Scott Carmilani as its new executive vice president.
AWAC is a joint venture headed by American International Group, Chubb Corp. and investment bankers Goldman Sachs. It was formed last November with an initial capitalization of $1.5 billion.
Carmilani was president of the Mergers & Acquisition Insurance Division of AIG prior to joining AWAC. “He was responsible for the management, marketing and underwriting of transactional insurance products for clients engaged in mergers, acquisitions or divestitures,” said the announcement. He has over 10 years’ experience “leading start-up entities in the insurance and reinsurance sector.”
Carmilani will be based at AWAC’s new headquarters and operational center in the Bermuda Commercial Bank Building, Victoria Street, Hamilton, and will report to Michael Morrison, president and CEO.
Commenting on his new job, Carmilani stated that he was “delighted to be part of a team committed to building a responsible underwriting company while remaining flexible in the market. Since our inception in late 2001, Allied World Assurance Company Ltd has hit the ground running by seeking out opportunities to provide new ways of fulfilling capacity for niche markets.”|”allied, world, appoints, scott, carmilani, exec., vp
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