Allied World Names DeFeo to Board

November 16, 2006

Allied World Assurance Company Holdings, Ltd. announced the appointment of Philip DeFeo to its Board of Directors. He is a veteran financial executive who has over 38 years of experience in management, operations, technology, marketing and sales within the financial services industry.

President and CEO Scott Carmilani commented, “We are very pleased to welcome Philip to our Board of Directors. His extensive and diverse experience in the financial services industry will be of great value and importance to our company and our board moving forward.”

DeFeo is currently a Managing Partner of Lithos Capital Partners LLC, a private equity firm that he co-founded. From 1999 to 2005, Mr. DeFeo served as the Chairman and CEO of the Pacific Exchange, which merged with Archipelago Holdings, Inc. in 2005 and which in turn merged with the New York Stock Exchange in 2006.

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