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C.V. Starr & Company to Offer Management Liability Lines From Allied World Assurance Company
Date:2/12/2008

SAN FRANCISCO, Feb. 12 /PRNewswire/ -- C.V. Starr & Company, a subsidiary of C. V. Starr & Co., Inc., and Allied World Assurance Company (U.S.) Inc. and Allied World National Assurance Company have entered into a program agreement whereby C.V. Starr & Company will begin offering management liability lines of insurance coverage on behalf of Allied World to commercial middle market risks including Not For Profit Organizations, Private Companies and Public Companies with market capitalizations of $500 million or less. C.V. Starr & Company will market and underwrite a broad portfolio of insurance products including Directors and Officers Insurance, Employment Practices Liability, Fiduciary Liability, Outside Directorship Liability, Fidelity and Crime Insurance as well as Kidnap, Ransom and Corporate Extortion Insurance.

"We are excited to broaden our partnership with Allied World and provide our brokers and customers access to quality underwriting and servicing of a broad portfolio of specialty insurance products while providing solutions to their management liability insurance needs," said Jeffrey Hafter, President of C.V. Starr & Company.

Laurie E. Banez Senior Vice President of C.V. Starr & Company will serve as its chief underwriter responsible for managing the Allied World program. Ms. Banez has over 21 years insurance industry experience and prior to joining C.V. Starr & Company in November 2007, she held various senior leadership positions with several leading management liability insurance carriers.

Allied World President of U.S. Operations, Distribution and Marketing, Gordon Knight, commented, "This agreement with C.V. Starr & Company allows us to enhance Allied World's specialty program identity and further penetrate the middle market space as part of our continued U.S. platform growth. This initiative compliments our current D&O product portfolio already established on a worldwide basis."

About C. V. Starr & Company

C.V. Starr & Company, a subsidiary of C. V. Starr & Co., Inc., is a leading managing insurance agent and preeminent underwriter of specialty casualty insurance. The agency provides its clients with a full range of expertise in commercial casualty insurance and special excess liability coverage over self-insured retention insurance programs. An insurance underwriting manager since 1953, the agency is based in California and has offices in San Francisco, Los Angeles, Seattle, Chicago, New York, Boston, Atlanta, Philadelphia, Dallas and Houston.

About C. V. Starr & Co., Inc.

C. V. Starr & Co. Inc. (C. V. Starr) is an independently owned holding company with insurance agencies and a portfolio of global investments. Through its wholly owned insurance agencies, C. V. Starr historically has produced approximately $1.5 billion annually of comprehensive insurance coverage among several specialty lines covering aviation, marine, excess casualty and property, including risks with international exposures. These agencies provide a broad spectrum of value-added specialized services including claims handling and settlement, risks assessment and loss prevention, and customer focused attention. C. V. Starr also has more than $2 billion in investment assets that include public and private equity, hedge funds and alternative assets. C. V. Starr's significant presence in global markets, backed by the company's international expertise, has made it an industry leader for more than 50 years. C. V. Starr is headquartered in New York City and has worldwide operations with over 500 staff with offices across the US and in Canada, London, Hong Kong, and China.

About Allied World Assurance Company

Allied World Assurance Company Holdings, Ltd., through its insurance subsidiaries, is a global provider of insurance and reinsurance solutions, offering superior client service through offices in Bermuda, the United States and Europe. Its insurance subsidiaries are rated A (Excellent) by A. M. Best Company and A- by Standard & Poor's. Its Bermuda and U.S. insurance subsidiaries are rated A2 (Good) by Moody's Investors Service. For more information on Allied World Assurance Company, please refer to the website at http://www.awac.com.


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SOURCE C. V. Starr & Company
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