Allied World Assurance 8-K Allied World Reports 10.8% Growth In Diluted Book Value Per Share

Exhibit 99.1

ALLIED WORLD REPORTS 10.8% GROWTH IN DILUTED BOOK VALUE PER SHARE

FOR THE FULL-YEAR 2013

• Full-year combined ratio of 86.2%, compared with 94.5% in the prior year

• Full-year gross premiums written increased 17.6% compared to a year ago

• The company repurchased $52 million of its common shares during the fourth quarter of 2013, and $175 million for the full-year

ZUG, Switzerland — (BUSINESS WIRE) — Allied World Assurance Company Holdings, AG (NYSE: AWH) today reported net income of $137.9 million, or $4.01 per diluted share, for the fourth quarter of 2013 compared to a net loss of $41.1 million, or $1.17 per diluted share, for the fourth quarter of 2012. Net income for the year ended December 31, 2013 was $417.9 million, or $11.95 per diluted share, compared to net income of $493.0 million, or $13.30 per diluted share, for the year ended December 31, 2012.

The company reported operating income of $74.5 million, or $2.17 per diluted share, for the fourth quarter of 2013, compared to an operating loss of $55.4 million, or $1.58 per diluted share, for the fourth quarter of 2012. Operating income for the year ended December 31, 2013 was $364.0 million, or $10.41 per diluted share, compared to operating income of $202.7 million, or $5.47 per diluted share, for the year ended December 31, 2012.

President and Chief Executive Officer Scott Carmilani commented, “Allied World had a very strong year in 2013. Consistent underwriting performance, highlighted by an 86% combined ratio, and a solid contribution from the investment portfolio, drove an 11% growth in diluted book value per share. Our platform is strongly positioned to gain additional scale over the coming year and our investment portfolio is well-aligned with the current investment environment. We are excited by the opportunities we see across the businesses.”

Fourth Quarter and Full-Year Summary (Unaudited)

(Expressed in millions of U.S. Dollars, except per share amounts)	Three Months Ended December 31,						Diluted per share						Year Ended December 31,						Diluted per share
	2013			2012			2013			2012			2013			2012			2013			2012
Net income (loss)	$	137.9		$	(41.1	)	$	4.01		$	(1.17	)	$	417.9		$	493.0		$	11.95		$	13.30
Adjusted for after tax effect of:
Net realized investment (gains)		(64.1	)		(15.2	)		(1.86	)		(0.43	)		(61.9	)		(291.1	)		(1.77	)		(7.85	)
Foreign exchange loss		0.7			0.9			0.02			0.02			8.0			0.8			0.23			0.02
Operating income (loss)	$	74.5		$	(55.4	)	$	2.17		$	(1.58	)	$	364.0		$	202.7		$	10.41		$	5.47

Fourth Quarter Operating Results

• Gross premiums written were $555.5 million, an 11.8% increase compared to $497.1 million in the fourth quarter of 2012. This was driven by growth in the international insurance segment and the U.S insurance segment, offset by a slight decrease in the reinsurance segment. The international segment’s gross premiums written grew by 19.9% attributable to growth across all lines, led by double-digit growth in trade credit, general casualty and the new aviation business; the U.S. insurance segment’s gross premiums written grew by 11.7% helped by growth across existing lines including general casualty and programs, and contributions from newer lines including construction and surety.

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• Net premiums written were $391.1 million, a 7.9% increase compared to $362.6 million in the fourth quarter of 2012.

• Net premiums earned were $524.6 million, a 10.1% increase compared to $476.2 million in the fourth quarter of 2012.

• Underwriting income was $41.9 million, compared to an underwriting loss of $78.8 million in the fourth quarter of 2012 due to higher premiums earned as well as lower catastrophe losses.

• The combined ratio was 92.0% compared to 116.5% in the fourth quarter of 2012 primarily due to the impact of Superstorm Sandy in the prior year quarter.

• The loss and loss expense ratio was 60.2% in the fourth quarter of 2013 compared to 87.1% in the prior year quarter. During the fourth quarter of 2013, the company recorded net favorable reserve development on prior loss years of $26.4 million, a benefit of 5.0 percentage points to the loss and loss expense ratio, compared to $32.8 million a year ago, a benefit of 6.9 percentage points.

• Excluding prior year reserve adjustments, the loss and loss expense ratio for the fourth quarter of 2013 was 65.3% compared to 94.0% for the fourth quarter of 2012.

• The company experienced $13.5 million of catastrophe losses for the fourth quarter of 2013 related to Typhoon Fitow. This compares to $174.6 million of catastrophe losses in the prior year quarter primarily related to Superstorm Sandy.

• The company’s expense ratio was 31.8% for the fourth quarter of 2013 compared to 29.4% for the fourth quarter of 2012. The increase was largely driven by increased salary-related costs and higher stock-based compensation expense.

Investment Results

• The total financial statement return on the company’s investment portfolio for the three months ended December 31, 2013 was 1.4% compared to 0.6% for the three months ended December 31, 2012.

• Net investment income grew 23.2% in the quarter compared to the prior year quarter.

• The increase in net realized investment gains was primarily due to positive performance from the other invested assets and equities portfolio.

• See the table below for the components of our investment returns:

(Expressed in millions of U.S. Dollars)	Three Months Ended December 31,						Year Ended December 31,
	2013			2012			2013			2012
Net investment income	$	47.3		$	38.4		$	157.6		$	167.1
Net realized investment gains (includes mark-to-market)		67.6			14.4			59.5			306.4
Change in unrealized (gains)		—			(2.2	)		—			(17.5	)
Total financial statement portfolio return	$	114.9		$	50.6		$	217.1		$	456.0
Average invested assets	$	8,488.3		$	8,518.1		$	8,411.7		$	8,272.6
Financial statement portfolio return		1.4	%		0.6	%		2.6	%		5.5	%

Note: net investment income, realized gains and unrealized gains are disclosed on a pre-tax basis.

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Shareholders’ Equity

• As of December 31, 2013, the company’s total shareholders’ equity grew to $3,519.8 million, compared to $3,326.3 million as of December 31, 2012.

• As of December 31, 2013, diluted book value per share was $102.58, an increase of 10.8% compared to $92.59 as of December 31, 2012 and an increase of 3.4% compared to $99.16 as of September 30, 2013.

Capital Management

• During the fourth quarter of 2013, the company repurchased 480,311 of its common shares through its share repurchase program in the open market at an average price of $107.31 per share and an aggregate cost of $51.5 million.

• In May 2013, the company’s shareholders approved a quarterly dividend equal to $0.50 per share. Three of the four dividends have been paid, and the remaining dividend is anticipated to be paid on April 3, 2014.

Supplementary Information

Allied World will be providing both a Financial Supplement and an Investment Supplement as of December 31, 2013. This information will be available in the “Investor Relations” section of the company’s website at www.awac.com.

Conference Call

Allied World will host a conference call on Thursday, February 6, 2014 at 11:30 a.m. (Eastern Time) to discuss the results for the fourth quarter ended December 31, 2013. The public may access a live webcast of the conference call at the “Investor Relations” section of the company’s website at www.awac.com. In addition, the conference call can be accessed by dialing (888) 317-6003 (U.S. and Canada callers) or (412) 317-6061 (international callers) and entering the passcode 6010519 approximately ten minutes prior to the call.

Following the conclusion of the presentation, a replay of the call will be available through Friday, February 21, 2014 by dialing (877) 344-7529 (U.S. and Canada callers) or (412) 317-0088 (international callers) and entering the passcode 10038718. In addition, the webcast will remain available online through Friday, February 21, 2014 at www.awac.com.

Non-GAAP Financial Measures

In presenting the company’s results, management has included and discussed in this press release certain non-generally accepted accounting principles (“non-GAAP”) financial measures within the meaning of Regulation G as promulgated by the U.S. Securities and Exchange Commission. Management believes that these non-GAAP measures, which may be defined differently by other companies, better explain the company’s results of operations in a manner that allows for a more complete understanding of the underlying trends in the company’s business. However, these measures should not be viewed as a substitute for those determined in accordance with generally accepted accounting principles (“U.S. GAAP”).

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“Operating income” is an internal performance measure used in the management of the company’s operations and represents after-tax operational results excluding, as applicable, net realized investment gains or losses, net foreign exchange gain or loss, and other non-recurring items. The company excludes net realized investment gains or losses, net foreign exchange gain or loss, and other non-recurring items from the calculation of operating income because these amounts are heavily influenced by and fluctuate in part according to the availability of market opportunities and other factors. In addition to presenting net income determined in accordance with U.S. GAAP, the company believes that showing operating income enables investors, analysts, rating agencies and other users of the company’s financial information to more easily analyze our results of operations and underlying business performance. Operating income should not be viewed as a substitute for U.S. GAAP net income.

The company has included “diluted book value per share” because it takes into account the effect of dilutive securities; therefore, the company believes it is an important measure of calculating shareholder returns.

“Annualized net income return on average shareholders’ equity” (“ROAE”) is calculated using average shareholders’ equity, excluding the average after tax unrealized gains (or losses) on investments. Unrealized gains (losses) on investments are primarily the result of interest rate and credit spread movements and the resultant impact on fixed income securities. Such gains (losses) are not related to management actions or operational performance, nor are they likely to be realized. Therefore, the company believes that excluding these unrealized gains (losses) provides a more consistent and useful measurement of operating performance, which supplements U.S. GAAP information. In calculating ROAE, the net income (loss) available to shareholders for the period is multiplied by the number of such periods in a calendar year in order to arrive at annualized net income (loss) available to shareholders. The company presents ROAE as a measure that is commonly recognized as a standard of performance by investors, analysts, rating agencies and other users of its financial information.

“Annualized operating return on average shareholders’ equity” is calculated using operating income (as defined above and annualized in the manner described for net income (loss) available to shareholders under ROAE above) and average shareholders’ equity, excluding the average after tax unrealized gains (losses) on investments. Unrealized gains (losses) are excluded from equity for the reasons outlined in the annualized net income return on average shareholders’ equity explanation above.

Reconciliations of these financial measures to their most directly comparable U.S. GAAP measures are included in the attached tables.

About Allied World Assurance Company

Allied World Assurance Company Holdings, AG, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World’s rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor’s, and A2 by Moody’s, and our Lloyd’s Syndicate 2232 is rated A+ by Standard & Poor’s and Fitch.

Please visit the following for further information on Allied World: Web: www.awac.com | Facebook: www.facebook.com/ alliedworld | LinkedIn: http://www.linkedin.com/company/Allied-World.

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Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by pricing and policy term trends; increased competition; the adequacy of our loss reserves; negative rating agency actions; greater frequency or severity of unpredictable catastrophic events; the impact of acts of terrorism and acts of war; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions; and judicial, legislative, political and other governmental developments, as well as management’s response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise.

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ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Expressed in thousands of United States dollars, except share and per share amounts)

	Quarter Ended December 31,						Year Ended December 31,
	2013			2012			2013			2012
Revenues:
Gross premiums written	$	555,490		$	497,052		$	2,738,664		$	2,329,271
Premiums ceded		(164,360	)		(134,429	)		(618,183	)		(491,448	)
Net premiums written		391,130			362,623			2,120,481			1,837,823
Change in unearned premiums		133,431			113,621			(114,648	)		(88,925	)
Net premiums earned		524,561			476,244			2,005,833			1,748,898
Net investment income		47,270			38,360			157,564			167,141
Net realized investment gains		67,599			14,379			59,525			306,436
Total revenues		639,430			528,983			2,222,922			2,222,475
Expenses:
Net losses and loss expenses		315,966			414,734			1,123,242			1,139,264
Acquisition costs		66,257			55,910			252,673			205,722
General and administrative expenses		100,467			84,404			352,285			307,321
Amortization of intangible assets		633			633			2,533			2,533
Interest expense		14,094			13,826			56,510			55,405
Foreign exchange loss		658			860			8,019			783
Total expenses		498,075			570,367			1,795,262			1,711,028
Income (loss) before income taxes		141,355			(41,384	)		427,660			511,447
Income tax expense (benefit)		3,448			(237	)		9,780			18,440
NET INCOME (LOSS)	$	137,907		$	(41,147	)	$	417,880		$	493,007
PER SHARE DATA:
Basic earnings (loss) per share	$	4.10		$	(1.17	)	$	12.23		$	13.67
Diluted earnings (loss) per share	$	4.01		$	(1.17	)	$	11.95		$	13.30
Weighted average common shares outstanding		33,604,985			35,097,043			34,154,905			36,057,145
Weighted average common shares and common share equivalents outstanding		34,376,604			35,097,043			34,955,278			37,069,885
Dividends paid per share(1)	$	0.500		$	0.375		$	1.375		$	1.875

⁽¹⁾ A dividend of $0.50 was also paid on January 2, 2014 to shareholders of record on December 24, 2013.

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ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Expressed in thousands of United States dollars, except share and per share amounts)

	As of			As of
	December 31,			December 31,
	2013			2012
ASSETS:
Fixed maturity investments trading, at fair value	$	6,100,798		$	6,626,454
Equity securities trading, at fair value		699,846			523,949
Other invested assets		911,392			783,534
Total investments		7,712,036			7,933,937
Cash and cash equivalents		681,329			865,364
Insurance balances receivable		664,731			510,532
Funds held		632,430			336,368
Prepaid reinsurance		340,992			277,406
Reinsurance recoverable		1,234,504			1,141,110
Accrued investment income		32,236			29,135
Net deferred acquisition costs		126,661			108,010
Goodwill		268,376			268,376
Intangible assets		48,831			51,365
Balances receivable on sale of investments		76,544			418,879
Net deferred tax assets		37,469			25,580
Other assets		89,691			63,884
Total assets	$	11,945,830		$	12,029,946
LIABILITIES:
Reserve for losses and loss expenses	$	5,766,529		$	5,645,549
Unearned premiums		1,396,256			1,218,021
Reinsurance balances payable		173,023			136,264
Balances due on purchases of investments		104,740			759,934
Senior notes		798,499			798,215
Dividends payable		16,732			—
Accounts payable and accrued liabilities		170,225			145,628
Total liabilities		8,426,004			8,703,611
SHAREHOLDERS’ EQUITY:
Common shares: 2013: par value CHF 12.30 per share and 2012: par value CHF 12.64 per share (2013: 34,492,484; 2012: 36,369,868 shares issued and 2013: 33,417,882; 2012: 34,797,781 shares outstanding)		418,988			454,980
Treasury shares, at cost (2013: 1,074,602; 2012: 1,572,087)		(79,992	)		(113,818	)
Retained earnings		3,180,830			2,985,173
Total shareholders’ equity		3,519,826			3,326,335
Total liabilities and shareholders’ equity	$	11,945,830		$	12,029,946

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ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

UNAUDITED CONSOLIDATED SEGMENT DATA

(Expressed in thousands of United States dollars, except for ratio information)

	U.S.			International
Three Months Ended December 31, 2013	Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	291,122		$	187,774		$	76,594		$	555,490
Net premiums written		216,939			98,269			75,922			391,130
Net premiums earned		209,113			87,588			227,860			524,561
Net losses and loss expenses		(180,963	)		(30,792	)		(104,211	)		(315,966	)
Acquisition costs		(27,880	)		295			(38,672	)		(66,257	)
General and administrative expenses		(45,968	)		(31,350	)		(23,149	)		(100,467	)
Underwriting (loss) income		(45,698	)		25,741			61,828			41,871
Net investment income											47,270
Net realized investment gains											67,599
Amortization of intangible assets											(633	)
Interest expense											(14,094	)
Foreign exchange loss											(658	)
Income before income taxes										$	141,355
GAAP Ratios:
Loss and loss expense ratio		86.5	%		35.2	%		45.7	%		60.2	%
Acquisition cost ratio		13.3	%		(0.3	)%		17.0	%		12.6	%
General and administrative expense ratio		22.0	%		35.8	%		10.2	%		19.2	%
Combined ratio		121.8	%		70.7	%		72.9	%		92.0	%
	U.S.			International
Three Months Ended December 31, 2012	Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	260,604		$	156,605		$	79,843		$	497,052
Net premiums written		192,142			91,198			79,283			362,623
Net premiums earned		181,503			88,982			205,759			476,244
Net losses and loss expenses		(155,279	)		(87,698	)		(171,757	)		(414,734	)
Acquisition costs		(22,752	)		(890	)		(32,268	)		(55,910	)
General and administrative expenses		(38,567	)		(24,898	)		(20,939	)		(84,404	)
Underwriting (loss) income		(35,095	)		(24,504	)		(19,205	)		(78,804	)
Net investment income											38,360
Net realized investment gains											14,379
Amortization of intangible assets											(633	)
Interest expense											(13,826	)
Foreign exchange loss											(860	)
Income before income taxes										$	(41,384	)
GAAP Ratios:
Loss and loss expense ratio		85.6	%		98.6	%		83.5	%		87.1	%
Acquisition cost ratio		12.5	%		1.0	%		15.7	%		11.7	%
General and administrative expense ratio		21.2	%		28.0	%		10.2	%		17.7	%
Combined ratio		119.3	%		127.6	%		109.4	%		116.5	%

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ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

UNAUDITED CONSOLIDATED SEGMENT DATA

(Expressed in thousands of United States dollars, except for ratio information)

	U.S.			International
Year Ended December 31, 2013	Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	1,163,146		$	641,764		$	933,754		$	2,738,664
Net premiums written		869,403			358,040			893,038			2,120,481
Net premiums earned		802,590			346,397			856,846			2,005,833
Net losses and loss expenses		(579,873	)		(121,789	)		(421,580	)		(1,123,242	)
Acquisition costs		(106,704	)		1,784			(147,753	)		(252,673	)
General and administrative expenses		(165,482	)		(106,724	)		(80,079	)		(352,285	)
Underwriting (loss) income		(49,469	)		119,668			207,434			277,633
Net investment income											157,564
Net realized investment gains											59,525
Amortization of intangible assets											(2,533	)
Interest expense											(56,510	)
Foreign exchange loss											(8,019	)
Income before income taxes										$	427,660
GAAP Ratios:
Loss and loss expense ratio		72.3	%		35.2	%		49.2	%		56.0	%
Acquisition cost ratio		13.3	%		(0.5	)%		17.2	%		12.6	%
General and administrative expense ratio		20.6	%		30.8	%		9.3	%		17.6	%
Combined ratio		106.2	%		65.5	%		75.7	%		86.2	%
	U.S.			International
Year Ended December 31, 2012	Insurance			Insurance			Reinsurance			Total
Gross premiums written	$	993,918		$	575,103		$	760,250		$	2,329,271
Net premiums written		743,428			346,348			748,047			1,837,823
Net premiums earned		671,594			336,787			740,517			1,748,898
Net losses and loss expenses		(465,168	)		(163,130	)		(510,966	)		(1,139,264	)
Acquisition costs		(86,670	)		486			(119,538	)		(205,722	)
General and administrative expenses		(141,729	)		(91,867	)		(73,725	)		(307,321	)
Underwriting (loss) income		(21,973	)		82,276			36,288			96,591
Net investment income											167,141
Net realized investment gains											306,436
Amortization of intangible assets											(2,533	)
Interest expense											(55,405	)
Foreign exchange gain											(783	)
Income before income taxes										$	511,447
GAAP Ratios:
Loss and loss expense ratio		69.3	%		48.4	%		69.0	%		65.1	%
Acquisition cost ratio		12.9	%		(0.1	)%		16.1	%		11.8	%
General and administrative expense ratio		21.1	%		27.3	%		10.0	%		17.6	%
Combined ratio		103.3	%		75.6	%		95.1	%		94.5	%

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ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

UNAUDITED OPERATING INCOME RECONCILIATION

(Expressed in thousands of United States dollars, except share and per share amounts)

	Three Months Ended December 31,						Year Ended December 31,
	2013			2012			2013			2012
Net income (loss)	$	137,907		$	(41,147	)	$	417,880		$	493,007
Add after tax effect of:
Net realized investment (gains) losses		(64,027	)		(15,104	)		(61,867	)		(291,139	)
Foreign exchange loss		658			860			8,019			783
Operating income (loss)	$	74,538		$	(55,391	)	$	364,032		$	202,651
Weighted average common shares outstanding:
Basic		33,604,985			35,097,043			34,154,905			36,057,145
Diluted		34,376,604			35,097,043			34,955,278			37,069,885
Basic per share data:
Net income (loss)	$	4.10		$	(1.17	)	$	12.23		$	13.67
Add after tax effect of:
Net realized investment (gains) losses		(1.91	)		(0.43	)		(1.81	)		(8.07	)
Foreign exchange loss		0.02			0.02			0.23			0.02
Operating income (loss)	$	2.21		$	(1.58	)	$	10.65		$	5.62
Diluted per share data:
Net income (loss)	$	4.01		$	(1.17	)	$	11.95		$	13.30
Add after tax effect of:
Net realized investment (gains) losses		(1.86	)		(0.43	)		(1.77	)		(7.85	)
Foreign exchange loss		0.02			0.02			0.23			0.02
Operating income (loss)	$	2.17		$	(1.58	)	$	10.41		$	5.47

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ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

UNAUDITED DILUTED BOOK VALUE PER SHARE RECONCILIATION

(Expressed in thousands of United States dollars, except share and per share amounts)

	As of			As of
	December 31,			December 31,
	2013			2012
Price per share at period end	$	112.81		$	78.80
Total shareholders’ equity	$	3,519,826		$	3,326,335
Basic common shares outstanding		33,417,882			34,797,781
Add: unvested restricted share units		47,899			135,123
Add: performance based equity awards		268,173			485,973
Add: employee share purchase plan		18,532			10,750
Add: dilutive options outstanding		976,104			1,224,607
Weighted average exercise price per share	$	48.22		$	47.02
Deduct: options bought back via treasury method		(417,229	)		(730,652	)
Common shares and common share equivalents outstanding		34,311,361			35,923,582
Basic book value per common share	$	105.33		$	95.59
Diluted book value per common share	$	102.58		$	92.59

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ALLIED WORLD ASSURANCE COMPANY HOLDINGS, AG

UNAUDITED ANNUALIZED RETURN ON SHAREHOLDERS’ EQUITY RECONCILIATION

(Expressed in thousands of United States dollars, except for percentage information)

	Three Months Ended December 31,						Year Ended December 31,
	2013			2012			2013			2012
Opening shareholders’ equity	$	3,443,928		$	3,435,786		$	3,326,335		$	3,149,022
Deduct: accumulated other comprehensive income		—			(1,385	)		—			(14,484	)
Adjusted opening shareholders’ equity		3,443,928			3,434,401			3,326,335			3,134,538
Closing shareholders’ equity	$	3,519,826		$	3,326,335		$	3,519,826		$	3,326,335
Deduct: accumulated other comprehensive income		—			—			—			—
Adjusted closing shareholders’ equity		3,519,826			3,326,335			3,519,826			3,326,335
Average shareholders’ equity	$	3,481,877		$	3,380,368		$	3,423,081		$	3,230,437
Net income (loss) available to shareholders	$	137,907		$	(41,147	)	$	417,880		$	493,007
Annualized net income (loss) available to shareholders		551,628			(164,588	)		417,880			493,007
Annualized return on average shareholders’ equity - net income (loss) available to shareholders		15.8	%		(4.9	)%		12.2	%		15.3	%
Operating income (loss) available to shareholders	$	74,538		$	(55,391	)	$	364,032		$	202,651
Annualized operating income (loss) available to shareholders		298,152			(221,564	)		364,032			202,651
Annualized return on average shareholders’ equity - operating income (loss) available to shareholders		8.6	%		(6.6	)%		10.6	%		6.3	%

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Media:

Noelle Campbell

Manager, Corporate Communications

+1-646-794-0544

Noelle.campbell@awacservices.com

OR

Faye Cook

Senior Vice President, Marketing & Communications

+1-441-278-5406

Faye.cook@awac.com

Investors:

Sarah Doran

Senior Vice President, Investor Relations and Treasurer

+1-646-794-0590

Sarah.doran@awac.com

Website: www.awac.com

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