Allied World Assurance Company Holdings, AG (NYSE:AWH) today announced
the launch of a new Global Crisis Management Division which is comprised
of Structured Trade Credit, Political Risk, Multi-Buyer Trade Credit &
Product Recall which will operate under the leadership of Todd Germano,
Executive Vice President, Global Crisis Management Division.
This new division will offer an array of products that provide coverage
to help organizations prepare for, manage, and recover from issues and
incidents that can threaten many facets of their business, including
brand, reputation, finances, and operations. These events require highly
specialized products, services and vendors to quickly and effectively
respond to a crisis. Allied World will be offering specialty coverage
that requires targeted knowledge of the exposures, trends and markets in
order to adequately manage the risks associated with the line of
business.
Frank D’Orazio, President, Underwriting & Global Risk Group at Allied
World commented, “The customers we serve have increasingly global and
complex business models that require a unique understanding of risk and
specialized underwriting approach. This division will enable us to have
more meaningful relationships with our existing customer base while
broadening the reach of our business.”
Mr. Germano commented, “We have made a significant investment in
building this comprehensive crisis management platform which will be led
by four industry veterans with extensive expertise in their sectors. The
risk landscape is dynamic and continually evolving, and through this new
group, we will offer solutions-based underwriting for an optimal level
of customization.”
Biographical information on the leadership team of the new division
is included below:
Todd Germano is Executive Vice President, Global Crisis
Management Division and oversees all components of this business and its
product offerings. Previously, he served as President, Allied World U.S.
Property & Casualty.
Bill Mullan is Senior Vice President and Chief
Credit Officer, Global Crisis Management Division. Prior to joining
Allied World, Bill spent many years at AIG with responsibilities
spanning across accounting, treasury and risk management functions. Bill
has 17+ years of Trade Credit experience, establishing credit
procedures, setting underwriting authorities and ensuring proper systems
and controls.
Nick Hedley is Senior Vice President, Global Crisis Management
Division, and runs the Structured Trade Credit and Political Risk
business of Allied World. Based in London, Nick has over 30 years of
experience in the credit and political risk markets.
Kent Paisley is Senior Vice President, Global Crisis Management
Division, and leads Allied World’s Multi-Buyer Trade Credit Insurance
business. Kent joined Allied World in 2013 as Canadian Head of Specialty
Lines as part of the team charged with establishing the Company’s
Canadian branch. Kent has 28 years of experience in trade credit
insurance and banking.
Thomas Mangan is Vice President, Global Crisis Management
Division and manages the Product Recall and Product Contamination
offerings on behalf of Allied World. Thomas has been a property
casualty underwriter with national carriers for more than 27 years.
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 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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