Allied World Assurance Company Holdings, a global provider of property, casualty and specialty insurance and reinsurance solutions, plans to redomesticate its place of incorporation from Bermuda to Switzerland.
Following the redomestication, the holding company’s Bermuda insurance and reinsurance subsidiary will continue to operate and service business in Bermuda where the company was formed in 2001.
In order to effect the redomestication, Allied World has formed a new Swiss company, Allied World Assurance Company Holdings, that will replace Allied World Assurance Company Holdings, as the ultimate holding company of the group.
The proposed redomestication will be subject to approval and is expected to be effective by the end of 2010.