Bermuda-based Allied World Assurance Company (AWAC) has opened an office in Dublin to write local and EU business.

AWAC writes worldwide property and casualty insurance and reinsurance.

AWAC was given an A+ AM Best rating when it was launched in November last year, with about $1.5bn (£0.96bn) in equity capital from Chubb Corporation, AIG and GS Capital Partners.

John Redmond, who spent the previous 23 years at Chubb, will run the European operation.