Allied World opens Philadelphia office

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Allied World Assurance Company Holdings broadened its branch network in the US this week opening up a tenth new office, this one in Philadelphia.

The Switzerland-based insurer, which redomiciled from Bermuda in 2010 but which still has substantial operations on the Island, has appointed Allied vice-president Mike Sobel as branch manager. He will oversee distribution and business development for the Mid-Atlantic territory. Mr Sobel will report to Bobby Bowden, executive vice president for US marketing and business development.

Mr Sobel has 14 years of experience in the insurance industry. Prior to joining Allied World, he was mostly recently responsible for overseeing the East Coast territory for the Public Entity Department at Ace USA. Mr. Sobel previously held various senior management roles at both Ace and the Kemper Corporation in their Environmental Divisions.

“Opening an office in Philadelphia has been a strategic objective for Allied World,” Mr Bowden said. “Since 2008, we have focused on building-out a national branch network, which now includes 10 offices, to better serve our clients and trading partners in the US Mike’s industry experience and local connections will be a strong asset as we look to expand in the region.”

In early May, the company announced the opening of a new office in Miami where it will further expand its business in Latin America.

Meantime, the company said yesterday it will pay its dividend of 37.5 cents a share on August 6 to stockholders of record on July 20.

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