Allied World Launches Surety Line Of Business

March 1, 2013

Allied World U.S. continues to expand its casualty operations with the launch of a new surety line of business, available for clients in the United States. Robert Staples has been appointed Senior Vice President, Surety and will oversee the development of the new department. Mr. Staples will be based in Philadelphia and will report directly to Lou Iglesias, President, U.S. Property & Casualty.

Mr. Iglesias commented, “We continue to strategically expand our product offerings in the U.S. into markets where we believe we can make a meaningful impact. Our underwriting team will provide key trading partners and customers with timely analysis and customized solutions to meet their evolving surety needs. Bob will be a great addition to our growing team in the U.S. and I look forward to working directly with him to build a first class operation.”

Mr. Staples has over 30 years of underwriting experience in the insurance industry. Prior to joining Allied World, he was most recently, Vice President and Product Line Manager for Environmental Surety at American International Group (AIG). Mr. Staples holds a Bachelor’s Degree in Business Management from the University of Michigan.

Allied World’s U.S. surety line will offer contract and commercial surety bonds, as well as environmental surety bonds, either on a standalone basis or in tandem with Allied World U.S.’s environmental insurance. The line will target middle market accounts with capacity of $20 million per single contract and $50 million per aggregate program. Higher limits are available based upon credit analysis.

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