Allied World Reinsurance Receives Approval for Lloyd's Coverholder for Latin America Treaty Business

Allied World Assurance Company Holdings, AG

announced today that the Miami operation of Allied World Reinsurance Management Company has received approval to act as a Lloyd's coverholder to underwrite treaty business on behalf of Allied World's Lloyd's Syndicate 2232. The coverholder will offer a broad range of property and casualty treaty products and services. Allied World Reinsurance opened its Miami branch in May 2012 to service clients and brokers in Latin America and the Caribbean. The Miami office is led by Will Turkel, Senior Vice President & General Manager, Latin America & Caribbean. Darren Powell, the Active Underwriter for Syndicate 2232, commented, "Coverholders allow Lloyd's syndicates greater access in the regions where they conduct business. This coverholder is a cost-effective way for Allied World Reinsurance to build-out operations regionally and continue to provide its trading partners with the exceptional security and service they have come to expect." Kevin Marine, Executive Vice President, International & Global Specialty, added, "Since the beginning of 2012, Allied World Reinsurance has centralized its operations and continues building-out our book of business in regions around the globe where we can make a meaningful impact. Our Miami operation was a key objective for us this year and we are exceptionally pleased with the progress that Will Turkel and his team have made on the ground. The addition of our coverholder will allow us to continue expanding in the region."