Exhibit 99.1

ALLIED WORLD REPORTS A 96% COMBINED RATIO FOR THE FIRST QUARTER 2016
Net investment income grew by 19.5% to $53.3 million from $44.6 million in the prior year quarter
Net favorable reserve development on prior loss years of $25.4 million
The company repurchased $66.7 million of its common shares since the beginning of the year
Earlier today at the company's Annual Shareholder Meeting, shareholders approved a new, two-year $500 million share repurchase authorization and an additional four quarterly dividends equal to $0.26 per share

ZUG, Switzerland--(BUSINESS WIRE)--Allied World Assurance Company Holdings, AG (NYSE: AWH) today reported net income of $74.1 million, or $0.81 per diluted share, for the first quarter of 2016 compared to net income of $124.4 million, or $1.27 per diluted share, for the first quarter of 2015.
The company reported operating income of $59.0 million, or $0.65 per diluted share, for the first quarter of 2016, compared to operating income of $91.7 million, or $0.93 per diluted share, for the first quarter of 2015.
President and Chief Executive Officer Scott Carmilani commented, "We are pleased at the positive contributions from our investment portfolio and solid underwriting results this quarter. Although market conditions remain challenging, we continue to find attractive opportunities while maintaining our strong focus on risk selection and capital management."

First Quarter Summary (Unaudited)
(Expressed in millions of U.S. dollars,
Three Months Ended March 31,
except per share amounts)
 
 
Diluted per share
 
2016
2015
2016
2015
 
 
 
 
 
Net income
$74.1
$124.4
$0.81
$1.27
Add after tax effect of:
 
 
 
 
Net realized investment gains
(12.1)
(42.6)
(0.13)
(0.44)
Foreign exchange (gain) loss
(3.0)
9.9
(0.03)
0.10
Operating income
$59.0
$91.7
$0.65
$0.93
 
 
 
 
 



First Quarter Operating Results
Gross premiums written were $863.5 million, a 1.9% decrease compared to $880.6 million for the first quarter of 2015. This was driven by a decline in the Reinsurance segment, partially offset by growth in the Global Markets Insurance segment. North American Insurance was essentially flat.
The Global Markets Insurance segment grew by 94.7% on a constant dollar basis and 90.6% on an as reported basis, driven by the inclusion of the acquired Asian operations. The first quarter of 2016 was the fourth quarterly period to include the results of the acquired Asian operations, making future prior year quarter references directly comparable.
The North American Insurance segment was essentially unchanged, led by growth across programs and environmental businesses, offset in part by declines in primary casualty, healthcare, and property businesses.
The Reinsurance segment decreased by 16.0% driven largely by the reduction in property catastrophe risk as well as the non-renewal of certain other property and casualty treaties.

1

The following information was filed by Allied World Assurance Co Holdings, Ag on Tuesday, April 19, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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