67 WALL STREET, New York - June 6, 2014 - The Wall Street Transcript has just published its Insurance Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Low Profitability and Low Interest Rates - Commercial Line Brokers and Underwriters - Consolidation Trends - Emerging Market Expansion - Analysis Of Personal, Commercial & Reinsurance Subsectors
Companies include: Allied World Assurance Company (AWH) and many more.
In the following excerpt from the Insurance Report, the EVP and CFO of Allied World Assurance Company Holdings, AG (AWH) discusses company strategy and the outlook for this vital industry:
TWST: Can you talk a little bit about Lloyd's in Europe, and what you are doing there?
Mr. Bradley: That's a very good point. Our third segment - which we didn't talk about as much last year - is our international segment, which we've now turned our attention to, and are making a bit of an investment in the London market, in general, and Lloyd's in particular. We purchased a team and aviation book of business from Markel in the fourth quarter of 2013. That's now fully up to speed.
We also brought in a team to do marine cargo business, which is a traditional Lloyd's type of business, as well as a commercial casualty unit. I think we'll see some of what we've tried to do in the U.S. over the past four or five years in terms of targeting selected teams and lines of business here. We'll use our London platform as a basis to provide growth there and throughout the rest of the world.
TWST: You also recently launched P&C offerings in Canada. Tell us about your decision to enter that market.
Mr. Bradley That's one we've been looking at for a long time, and it was more a matter of finding the right team. We've done some cross-border business from the U.S., but have for several years now, wanted to get on the ground there. And finally, finding the team - Gord Kerr from Arch, along with a couple of individuals that he brought along - enabled us to start a Toronto office in late 2013, and they are now up and running for 2014.
TWST: You talked about Europe and Canada. As you look to continue to expand the company, what other geographic markets do you have your eye on?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.