Bermuda-based reinsurer Allied World Assurance Company (Reinsurance) (AWAC Re) has opened an office in London, having received authorisation from the FSA.
AWAC Re also has an office in Dublin, which began operations in July 2003.
J Michael Baldwin has been appointed chief executive of the London branch. He said: “It is satisfying to have completed the approval process necessary to enable us to open this AWAC Re branch.
“This will allow us to participate in the London reinsurance market providing risk transfer capacity to the world's largest corporations that seek strong security from knowledgeable and experienced underwriters.”
AWAC specialises in property and casualty insurance and reinsurance.
