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Allied World's new acquisition expands

A company in the process of being acquired by Bermuda-based Allied World Assurance Company is set to increase its book of business.

Connecticut-based Darwin Professional Underwriters, Inc. announced yesterday it will acquire renewal rights to Great American' Insurance Co.'s roughly $20 million of small, standard market lawyers professional liability insurance business and related assets.

Allied World's purchase of Darwin is expected to be completed in the fourth quarter of this year.

Darwin currently has more than $20 million of in-force premium, a mix of surplus lines and small, standard lawyers liabilty business. This transaction broadens its national presence in the small law firm market. Darwin's renewal rights are expected to start with policies effective October 1, 2008. No liabilities associated with Great American's existing policies are being transferred to Darwin in this transaction.

¿ Allied World has appointed Michael Nuenke as executive vice-president of US operations.

Mr. Nuenke will be responsible for compliance, controls, procedures and financial management for existing programmes and related operations as well as reviewing and assessing opportunities for new programmes and related business.

He previously served as senior vice-president of programme operations for Glencoe US Holdings Inc.