Bermuda-based Allied World Assurance Company Ltd. has named Barry Zurbuchen as chief risk officer.

Mr. Zurbuchen is the company's senior vice-president, modelling and corporate pricing, a role in which he is responsible for the company's reinsurance, insurance and enterprise risk modelling activities and is a central resource for all pricing models.

In a statement Allied World said Mr. Zurbuchen had been "integral to the development and enhancement of the company's Economic Capital Model".

In his new role as Chief Risk Officer, he will continue to oversee the Economic Capital Model and the catastrophe modelling throughout Allied World.

In addition, he will oversee Enterprise Risk Management for Allied World globally, including assuring compliance with regulators and the Solvency II directive, relating to new European Union rules for insurers due to take effect in 2013.

Mr. Zurbuchen has 23 years of experience in the insurance industry. He is a Fellow of the Casualty Actuarial Society.

Allied World's board has voted to move its holding company from Bermuda to Switzerland. The redomestication is expected to be finalised by the end of this year.