Allied World U.S. a subsidiary of
Allied World Assurance Company Holdings, AG
(
AWH
) inked an agreement with The Mechanic Group, Inc. to provide a
range of primary and excess liability insurance products for
security guards, electronic security-alarm and investigation
firms. Security training schools, security consultants, building
maintenance and intelligence firms will also come under the aegis
of the insurance program.
The new line of liability insurance products will be an
amalgamation of general and professional liability insurance
products combined, and will be available throughout the
nation.
Allied World expects the alliance with Mechanic Group to be
fruitful as the latter has a reputation of providing customized
insurance coverage for the private security and investigation
industry over twenty four years and more. As a result, Allied
World will be exposed to greater numbers of customers and will
deliver a wider range of products than its usual lines. The
liaison is thereby expected to help the company accomplish its
business expansion objective.
On the other hand The Mechanic Group expects to utilize the
expertise of Allied World to provide better services to its
customers. The alliance will provide an opportunity to The
Mechanic Group to enhance its product portfolio. Thus, the joint
effort should lead to newer products offered to its clients.
Earlier this month, Allied World Bermuda, the Bermuda unit of
Allied World Assurance, launched an excess casualty coverage
package called Constellation. The package consists of five excess
casualty coverage products combined in one. The five coverage
enhancements offered by Constellation are Uni-Wrap, Affirmative
Punitive Damages, Defense-Assistance & Cooperation Provision,
Payment of Loss Provision and Business Continuity Protection.
Endurance Specialty Holdings Limited
(
ENH
), another property and casualty insurer, last November, launched
the Endurance Global weather Unit by acquiring the assets and
hiring all the employees of Galileo Weather Risk Management.
Allied World is scheduled to release its fourth-quarter and
full year 2012 earnings results on Feb 13. The Zacks Consensus
Estimate loss for the fourth quarter of 2012 is $1.92 reflecting
nearly 180% year over year decline. However, the Zacks Consensus
Estimate for full year 2012 is expected at $5.12, up 10.6% year
over year.
Allied World currently carries a Zacks Rank #3 (Hold). Among
others from the industry,
Fidelity National Financial
(
FNF
) and
HCC Insurance Holdings
(
HCC
) carry a favorable Zacks Rank #1 (Strong Buy) and are worth
noting.
ALLIED WORLD AS (AWH): Free Stock Analysis
Report
ENDURANCE SPLTY (ENH): Free Stock Analysis
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FIDELITY NAT FI (FNF): Free Stock Analysis
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HCC INS HLDGS (HCC): Free Stock Analysis
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