Allied World Launches Swiss Operating Co.
Allied World Assurance Company Holdings, AG today [Aug.31] announced the official launch of its Swiss operating company, Allied World Assurance Company, AG.
The new operating company was licensed to underwrite reinsurance and insurance business by the Swiss Financial Market Supervisory Authority (FINMA) on March 31, 2011 and is rated A (strong) by Standard & Poor’s.
Scott Carmilani, President and Chief Executive Officer, commented, “We are excited about the launch of our new Swiss operating company which allows Allied World greater proximity to our clients in continental Europe and will broaden our product offerings in this jurisdiction. This is another step forward for our company as we continue to expand our global operating platform.”
The company will write direct insurance in Switzerland and will focus on the following lines of business: Professional Lines, including Professional Indemnity, Directors & Officers and Warranties and Indemnity Insurance, and General Casualty.
Coverages offered will include: Property, General Casualty, Environmental Liability, Employers Liability & Workers Compensation, Accident and Health, Motor, Professional and Management Liability, Representations and Warranties, Contingency, Credit & Surety, Burglary & Theft, Political Risks, Fidelity and Crime, Agriculture, Engineering, Cyber and Technology, Advertising and Media Liability, Tax Opinion and Loss Mitigation, Sabotage and Terrorism, Aviation, and Marine products.
