Bermuda-based Allied World Assurance Company Holdings, Ltd. said yesterday that it has received approval from Lloyd's of London to establish a new syndicate.

Syndicate 2232, with the pseudonym AWH, will be fully operational and writing business effective June 30, 2010.

The syndicate will be managed by Capita Managing Agency Ltd., a subsidiary of The Capita Group plc, which is authorised by the Financial Services Authority in the United Kingdom.

The active underwriter will be Darren Powell, currently senior vice-president and manager of International Property at Allied's reinsurance unit in London.

The syndicate will offer select product lines, which include international property, general casualty, professional lines and international treaty, targeted at key territories such as countries in Latin America and the Asia Pacific region.

Syndicate 2232's primary purpose is to enhance Allied World's international platform and capabilities.

President and CEO Scott Carmilani said: "As we look to expand our global distribution network and further enhance our existing business model, Lloyd's of London is a key partner in achieving these strategic objectives.

"Its reputation as the world's leading provider of insurance is unsurpassed and we are excited to join this elite market."