Allied World Assurance Company Holdings, AG (NYSE:AWH) today announced
that Jim Duffy will retire from Allied World’s Board of Directors (the
“Board”) effective as of April 19, 2016 and will not be a nominee for
reelection at the company’s 2016 Annual Shareholder Meeting, which is
scheduled to occur on the same date. With Mr. Duffy’s retirement, the
Board will include eight directors. Mr. Duffy joined the Board in July
2006 and during his tenure has served as the Chair of the Enterprise
Risk Committee and as a member of the Audit, Compensation, Executive and
Nominating & Corporate Governance Committees.
“Jim Duffy’s extensive expertise and experience in the insurance and
reinsurance industry have made immeasurable contributions to our Board
and committee discussions, and we’ll miss his advice and wisdom” said
Allied World President, Chief Executive Officer and Chairman of the
Board Scott Carmilani. “He has played a significant role in our
development and growth into a global specialty insurance and reinsurance
company. We thank him for all of his contributions.”
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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