Switzerland’s Allied World Assurance Company Holdings, AG is continuing its expansion in the Asia Pacific region with the launch of a new office in Australia.
Allied World said in a press release that the new office will be based in Sydney with a mission of expanding its Asia Pacific-related distribution networks. It will handle coverage in general casualty, healthcare provider facility liability, professional liability, mergers & acquisitions and trade credit.
Previously, Allied World has opened new regional offices in Hong Kong and Singapore. Frank D’Orazio, Allied World’s president of International Insurance, said in a statement that the Sydney offices are designed to build on that momentum.
Allied World’s growth has not gone unnoticed. Fitch Ratings ranked it at the end of 2013 among the top growing E&S writers, based on average annual direct premium growth for 2011 and 2012.
For the 2014 first quarter, Allied World reported an 11% jump in net income, and its overall combined ratios fell just below 80.
Allied offers property, casualty and specialty reinsurance, as well as reinsurance coverage.