Allied World Opens London Underwriting Branch

May 22, 2003

Bermuda-based Allied World Assurance Holdings, Ltd announced the opening in London of the first underwriting branch of its Irish insurance subsidiary, Allied World Assurance Company (Europe) Limited (AWAC-E), under the direction of J. Michael Baldwin as Managing Director.

“The London Branch of AWAC-E and is responsible for developing AWAC-E’s Property and Casualty business from UK wholesale and retail producers. Mr. Baldwin brings with him over 30 years of underwriting experience and prior to joining Allied World, was the Senior Vice President in charge of Chubb’s Commercial Insurance division in Europe,” said the bulletin.

Baldwin indicated that “Our focus is to support the London market by combining capacity and security with the skills of an experienced and talented underwriting team. We look to provide coverage for the larger Corporate Insureds that need solid underwriting and sound security that will give us a fair reward for risk assumed.”

Michael I.D. Morrison, Allied World President & CEO stated: “The opening of AWAC-E’s London underwriting branch puts Allied World in a position to offer to the European market much needed capacity in a variety of lines of business. The London branch will complement the existing Dublin operations, whilst providing even greater accessibility to brokers in continental Europe. Michael Baldwin’s solid underwriting experience and market contacts will be a definite asset in Allied World’s ongoing business development.”

Baldwin currently heads a staff of 10 experienced underwriters at the new office, which is located at 22 Billiter Street, in the heart of the London insurance marketplace.

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