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Allied World Expands Accounts Receivable Insurance Offering in North America

ZUG, Switzerland--(BUSINESS WIRE)--

Allied World Assurance Company Holdings, AG (AWH) announced today that Accounts Receivable Insurance is now available in 49 states and Washington, D.C. The coverage helps chief financial officers and other senior financial executives mitigate the risk of non-payment for their companies due to customer insolvency, protracted default and/or political risk.

Todd Germano, Executive Vice President, Head of Global Crisis Management Division, commented, “We are very pleased to now have approval in every state. This gives our team the ability to reach more customers and help them protect their companies’ balance sheets.”

Kent Paisley, Senior Vice President, Global Crisis Management Division, said, “In addition to the expansion of underwriting territory, we are pleased to announce that Hugo Carson has joined our team as Vice President, Accounts Receivable Insurance, and will be based in our Allied World Chicago Office. Hugo brings over a decade of credit insurance underwriting experience to Allied World and we are lucky to have him on our team.”

For more information, please contact Kent Paisley at Kent.Paisley@awac.com.

About Allied World

Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch.

Please visit the following for further information on Allied World: Web: www.awac.com | Facebook: www.facebook.com/alliedworld | LinkedIn: https://www.linkedin.com/company/allied-world

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed acquisition by Fairfax Financial Holdings Limited (“Fairfax”); the inability to obtain Allied World’s or Fairfax’s shareholder approval or the failure to satisfy other conditions to completion of the proposed acquisition, including receipt of regulatory approvals; risks that the proposed acquisition disrupts our current plans and operations; the ability to retain key personnel; the ability to recognize the benefits of the proposed acquisition; the amount of the costs, fees, expenses and charges related to the proposed acquisition; pricing and policy term trends; increased competition; the adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions; and judicial, legislative, political and other governmental developments, as well as management's response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise.

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