Allied World Assurance Company, Ltd. officially announced a number of 2005 promotions yesterday including the rise of three senior level executives.

The Bermuda-based property and casualty insurer which was founded in November 2001 announced yesterday that one of its first four employees, Jordan Gantz, has been appointed executive vice president (EVP) and chief underwriting officer (CUO) for Property and Casualty Insurance Operations in March.

Daniel Brandon has been promoted to the position of senior vice president, Professional-Specialty Lines Treaty Reinsurance while Mike McCrimmon is now senior vice president of the Property Department.

Mr. Gantz succeeds Scott Carmilani, who became AWAC?s president and CEO in January 2004 and who had also served as EVP and CUO since AWAC?s formation.

When the company commenced business in 2001, Mr. Gantz had the task of developing its global casualty operation. He was promoted in August, 2004 to executive vice president of casualty responsible for AWAC?s general casualty, professional lines and healthcare operations in Bermuda, Europe and the United States.?

Prior to joining AWAC, he spent over two years with the Lexington Insurance Company, an AIG company, as senior vice president responsible for Energy, Transportation, Products and General Casualty operations. He also managed the company?s Architects and Engineers Professional Liability division. From 1993 to 1999, Mr. Gantz served as vice president in American Re?s alternative market operation, Munich American Risk Partners and also spent seven years with the Chubb Corporation in various management roles in their excess casualty division.

As for AWAC?s market strategy, Mr. Gantz said in a release announcing his appointment yesterday that although the current insurance market presents many challenges, AWAC is well-positioned to selectively take advantage of attractive opportunities to achieve further geographic and product diversification.

?We are particularly excited over our initiatives in the United States, which will allow us to establish a more significant presence with large middle-market accounts than we currently have. These initiatives include the development of several new products as well as the opening of two new branch offices in the USA by the end of this year.?

In his new role as SVP, Mr. Brandon assumes full responsibility for the operations of the department and the continuing successful performance of the Treaty Reinsurance team. He started with AIG in 1991 where he worked as Supervisor of Ceded Reinsurance, negotiating placement of coverage for the foreign general business of AIG.

Before joining AWAC on April 15, 2002, as vice president, Treaty Reinsurance, he served as vice president of Treaty Underwriting for Converium Reinsurance [North America in New York, responsible for assisting clients in developing Professional Liability programs and underwriting, pricing and negotiating North American ?longtail? liability casualty treaties.

?During his three-year tenure at AWAC, Mr. Brandon and his staff have compiled a diversified portfolio of professional liability treaties that includes directors and officers liability, medical malpractice, lawyers and miscellaneous professional liability, EPLI, cyber liability and transactional risk insurance,? the press release said.

Mr. McCrimmon moved to AWAC on April 1, 2002 after a lengthy career with AIG?s Canadian operation which began in 1987. He held a succession of management positions within AIG?s highly profitable Property Division and ultimately secured the title property underwriting manager for Canada, second only to the regional executive. Before he moved to AWAC, he had been responsible for overseeing all of the Canadian branch offices and personally handling key Canadian Fortune 500 clients.

In his new position as SVP property, he ?will be responsible for the North American Property portfolio written out of Bermuda,? the press release said.