Allied World Widens Accident and Health Activities

July 7, 2004

Bermuda-based Allied World Assurance Holdings, Ltd. announced that its subsidiary, Allied World Assurance Company, Ltd. (AWAC), has entered into an agreement with Vespasian Management Limited, a London-based accident and health reinsurance specialist, for Vespasian to provide strategic support to AWAC in the development and management of its accident and health reinsurance business.

President and CEO Scott Carmilani commented: “Our partnership with Vespasian effectively provides us with the expertise and market knowledge necessary for us to take advantage of opportunities in the accident and health reinsurance market that we would not otherwise consider. The Vespasian team possesses a wealth of experience and a long track record of success in this field, and we are delighted to be moving forward with them.”

Vespasian’s CEO, Craig Tyrell, noted: “Working with an insurer of the calibre and financial standing of AWAC creates a compelling proposition for brokers and clients alike. We are delighted by the confidence that AWAC has shown in us, and we are looking forward to a long and mutually beneficial relationship with them.”

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