Bermuda-based Allied World Assurance Holdings, Ltd. yesterday announced it was expanding its business to take advantage of greater opportunities in the accident and health reinsurance market.

In a Press statement, the company said its Bermuda subsidiary, Allied World Assurance Company Ltd. (AWAC), had entered into an agreement with Vespasian Management Limited, a London-based accident and health reinsurance specialist, which paves the way fro Vespasian to provide strategic support to AWAC as it develops and manages its accident and health reinsurance business.

CEO and president Scott Carmilani said: ?Our partnership with Vespasian effectively provides us with the expertise and market knowledge necessary for us to take advantage of opportunities in the accident and health reinsurance market that we would not otherwise consider. The Vespasian team possesses a wealth of experience and a long track record of success in this field, and we are delighted to be moving forward with them.?