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<TITLE>FORM S-8</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">As filed with the Securities and Exchange Commission on May&nbsp;30, 2008<BR>
Registration No.&nbsp;333-
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 17pt; margin-top: 12pt"><B>ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
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    <TD align="center" valign="top"><B>Bermuda</B><BR>
(State or other jurisdiction of <BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>98-0481737</B><BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>27 Richmond Road<BR>
Pembroke HM 08, Bermuda</B><BR>
(Address of Principal Executive Offices, including Zip Code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2001 Employee Stock Option Plan</B></DIV>

<DIV align="center" style="font-size: 10pt"><B>Allied World Assurance Company Holdings, Ltd 2008 Employee Share Purchase Plan</B></DIV>


<DIV align="center" style="font-size: 10pt">(Full title of the plans)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CT Corporation System<BR>
111 Eighth Avenue, 13th Floor<BR>
New York, New York 10011</B><BR>
(Name and Address of Agent for Service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(212)&nbsp;894-8940</B><BR>
(Telephone number, including area code, of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B><I>Copies to:</I></B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Wesley D. Dupont, Esq.<BR>
Allied World Assurance Company Holdings, Ltd<BR>
27 Richmond Road<BR>
Pembroke HM 08, Bermuda<BR>
(441)&nbsp;278-5400<BR>
(441)&nbsp;292-0055 (Facsimile)</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; text-indent: 1%">&nbsp;&nbsp;Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large
accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the
Exchange Act. (Check one):
</DIV>

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    <TD align="center" valign="top" nowrap>Large accelerated filer
<FONT face="Wingdings">&#254;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Non-accelerated filer
<FONT face="Wingdings">&#111;</FONT><BR>(Do not check if a smaller reporting company)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Smaller reporting company <FONT face="Wingdings">&#111;</FONT></TD>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

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    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
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    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="center">Title of securities</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount to be</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">offering price per</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">aggregate offering</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount of</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">to be registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">registered (1)</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">share (2)</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">price (2)</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">registration fee</TD>
    <TD width="1%">&nbsp;</TD>
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<TD style="border-top: 2px solid #000000" align="center"><DIV style="margin-left:15px; text-indent:-15px">Common
shares, par value $0.03 per share </DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">3,000,000</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$45.43</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$136,290,000</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">$5,357</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
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<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 6pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

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    <TD width="96"></TD>
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<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>This Registration Statement covers an additional 2,000,000 common shares, par value $0.03 per
share (the&nbsp;&#147;Shares&#148;), of Allied World Assurance Company Holdings, Ltd (the&nbsp;&#147;Company&#148;)
authorized to be offered and sold pursuant to the Company&#146;s Second Amended and Restated 2001
Employee Stock Option Plan (the &#147;Stock Option Plan&#148;) and 1,000,000 Shares authorized to be
offered and sold pursuant to the Company&#146;s 2008 Employee Share Purchase Plan (the&nbsp;&#147;Share
Purchase Plan&#148;), each as may be amended from time to time (collectively, the&nbsp;&#147;Plans&#148;). In
addition, this Registration Statement covers an indeterminable number of additional Shares as
may hereafter be offered or issued, pursuant to the Plans, to prevent dilution resulting from
stock splits, stock dividends or similar transactions effected without receipt of
consideration.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for calculating the amount of the registration fee, pursuant to paragraphs
(c)&nbsp;and (h)&nbsp;of Rule&nbsp;457 under the Securities Act of 1933. The price per share is estimated
based on the average of the high and low trading prices for Allied World Assurance Company
Holdings, Ltd&#146;s common shares on May&nbsp;27, 2008, as reported by the New York Stock Exchange.</TD>
</TR>

</TABLE>
<P>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Explanatory Note</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solely with respect to the 2,000,000 additional Shares being registered for offer and sale
pursuant to the Stock Option Plan (the&nbsp;&#147;Additional Shares&#148;), this Registration Statement
incorporates by reference the Company&#146;s previous Registration Statement on Form S-8 (Registration
No.&nbsp;333-136420) filed with the U.S. Securities and Exchange Commission (the&nbsp;&#147;Commission&#148;) on
August&nbsp;8, 2006, and consists only of those items required by General Instruction E to Form S-8.
The remaining items, as well as other items contained herein that are required on Form S-8 for such
purpose, pertain to the registration of the 1,000,000 Shares being registered for offer and sale
pursuant to the Share Purchase Plan.
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="y59691exv5w1.htm">EX-5.1: OPINION OF CONYERS DILL & PEARMAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="y59691exv23w1.htm">EX-23.1: CONSENT OF DELOITTE & TOUCHE</A></TD></TR>
</TABLE>
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<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</b></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of this Registration Statement on
Form S-8 (this &#147;Registration Statement&#148;) will be sent or given to participating employees as
specified in Rule&nbsp;428(b)(1) of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), in
accordance with the rules and regulations of the Commission. Such documents are not being filed
with the Commission either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule&nbsp;424 of the Securities Act. These documents and the documents
incorporated by reference into this Registration Statement pursuant to Item&nbsp;3 of Part&nbsp;II of this
Registration Statement, taken together, constitute a prospectus that meets the requirements of
Section 10(a) of the Securities Act.
</DIV>
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<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</b></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>

<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We file annual, quarterly and current reports and other information with the Commission. The
Commission allows us to &#147;incorporate by reference&#148; the information we file with it, which means
that we can disclose important information to you by referring to those documents. The information
incorporated by reference is an important part of this Registration Statement. We incorporate by
reference the following previously filed documents:
</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our Annual Report on Form 10-K for the year ended December&nbsp;31, 2007, filed with
the Commission on February&nbsp;29, 2008;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our Quarterly Report on Form 10-Q for the fiscal quarter ended March&nbsp;31, 2008,
filed with the Commission on May&nbsp;9, 2008;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our Current Reports on Form 8-K, filed with the Commission on January&nbsp;8, March
5 and May&nbsp;16, 2008;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to the registration of the Additional Shares, our Registration
Statement on Form S-8 (Registration No.&nbsp;333-136420) filed with the Commission on
August&nbsp;8, 2006; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the description of our common shares, par value $0.03 per share, which is
contained in our Registration Statement on Form 8-A (Registration No.&nbsp;001-32938), filed
with the Commission on July&nbsp;6, 2006, pursuant to the Securities Exchange Act of 1934,
as amended (the &#147;Exchange Act&#148;).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents filed by us with the Commission pursuant to Sections&nbsp;13(a), 13(c),
14 and 15(d) of the Exchange Act subsequent to the date of this Registration Statement and prior to
the filing of a post-effective amendment to this Registration Statement which indicates that all
the securities offered hereby have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a
part hereof from the date of the filing of such documents with the Commission. Any statement
contained in a document incorporated by reference herein shall be deemed to be modified or
superseded for purposes hereof to the extent that a statement contained herein (or in any other
subsequently filed document which also is incorporated by reference herein) modifies or supersedes
such statement. Any statement so modified or superseded shall not be deemed to constitute a part
hereof except as so modified or superseded.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;4. Description of Securities" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
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<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a Bermuda exempted company. Section&nbsp;98 of the Companies Act 1981 of Bermuda
(the&nbsp;&#147;Companies Act&#148;) provides generally that a Bermuda company may indemnify its directors,
officers and auditors against any liability which by virtue of any rule of law would otherwise be
imposed on them in respect of any negligence, default, breach of duty or breach of trust, except in
cases where such liability arises from fraud or dishonesty of which such director, officer or
auditor may be guilty in relation to the company. Section&nbsp;98 further provides that a Bermuda
company may indemnify its directors, officers and auditors against any liability incurred by them
in defending any proceedings, whether civil or criminal, in which judgment is awarded in their
favor or in which they are acquitted or granted relief by the Supreme Court of Bermuda pursuant to
section 281 of the Companies Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have adopted provisions in our Bye-laws that provide that we shall indemnify our officers
and directors in respect of their actions and omissions, except in respect of their fraud or
dishonesty. We have also entered into indemnification agreements with our directors and certain of
our officers to indemnify such persons, to the fullest extent permitted by applicable law (except
in certain limited circumstances) and our Bye-laws and Memorandum of Association, against all
expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred in
connection with any threatened, pending or completed criminal, civil, administrative or
investigative action brought against such persons or in which such person otherwise becomes
involved as a witness by reason of his or her relationship with the company. The indemnification
agreements also provide for indemnification rights regarding proceedings brought by or in the right
of the company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Bye-laws provide that the shareholders waive all claims or rights of action that they
might have, individually or in right of the company, against any of our directors or officers for
any act or failure to act in the performance of such director&#146;s or officer&#146;s duties, except in
respect of any fraud or dishonesty of such director or officer. Section&nbsp;98A of the Companies Act
permits us to purchase and maintain insurance for the benefit of any officer or director in respect
of any loss or liability attaching to him in respect of any negligence, default, breach of duty or
breach of trust, whether or not we may otherwise indemnify such officer or director. We have
purchased and maintain a directors&#146; and officers&#146; liability policy for such a purpose.
</DIV>
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<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 2 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description of Exhibit</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1 (1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2001
Employee Stock Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2 (1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Option Grant Notice and Option Agreement under the Allied World
Assurance Company Holdings, Ltd Second Amended and Restated 2001 Employee Stock
Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3 (1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allied World Assurance Company Holdings, Ltd 2008 Employee Share Purchase Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Conyers Dill &#038; Pearman</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche, an independent registered public accounting firm</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Conyers Dill &#038; Pearman (included as part of Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature page).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Incorporated herein by reference to our Quarterly Report on Form 10-Q filed with the
Commission on May&nbsp;9, 2008.</TD>
</TR>

</TABLE>


<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. The undersigned registrant hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to the Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(i)&nbsp;to include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(ii)&nbsp;to reflect in the prospectus any facts or events arising after the effective
date of the Registration Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in
the information set forth in the Registration Statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(iii)&nbsp;to include any material information with respect to the plan of distribution
not previously disclosed in the Registration Statement or any material change to
such information in the Registration Statement;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>provided</U>, <U>however</U>, that paragraphs (1)(a)(i) and (1)(a)(ii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the Company pursuant to Section&nbsp;13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 3 -<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. The undersigned registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Company&#146;s annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act that is incorporated by reference in the Registration Statement
shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or
otherwise, the Company has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the
Company of expenses incurred or paid by a director, officer or controlling person of the Company in
the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 4 -<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in Pembroke, Bermuda, on the 30<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of
May, 2008.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><FONT style="white-space: nowrap"><B>ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:<BR>
Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Scott A. Carmilani
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Scott A. Carmilani
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with the requirements of the Securities Act of 1933, as amended, this
Registration Statement has been signed by the following persons in the capacities and on the dates
stated. Each person whose signature appears below constitutes and appoints Scott A. Carmilani and
Wesley D. Dupont, and each of them severally, as his or her true and lawful attorney-in-fact and
agent, each acting along with full power of substitution and resubstitution, for him or her and in
his or her name, place and stead, in any and all capacities, to sign any or all amendments
(including post-effective amendments) and exhibits to this Registration Statement on Form S-8, and
to any registration statement filed under Commission Rule&nbsp;462, and to file the same, with all
exhibits thereto, and all documents in connection therewith, with the Commission and/or the Bermuda
Registrar of Companies, granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as he or she might or could do in person, hereby
ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed by the following persons in the capacities and on the dates indicated:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<tr>
<TD style="font-size:10pt">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Scott A. Carmilani&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: Scott A. Carmilani</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
President, Chief Executive Officer and Chairman
of the Board
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Joan H. Dillard&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: Joan H. Dillard</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">
Senior Vice President and Chief Financial Officer
<br>(Principal Financial and Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Bart Friedman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: Bart Friedman</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Deputy Chairman of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ James F. Duffy&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: James F. Duffy</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 5 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Scott Hunter&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: Scott Hunter</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Michael I.D. Morrison&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: Michael I.D. Morrison</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Mark R. Patterson&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: Mark R. Patterson</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Samuel J. Weinhoff&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Name: Samuel J. Weinhoff</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Donald J. Puglisi&nbsp;&nbsp;&nbsp;&nbsp;
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Puglisi &#038; Associates</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Authorized Representative in the United States
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 30, 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 6 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEX TO EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description of Exhibit</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1 (1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2001
Employee Stock Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2 (1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Option Grant Notice and Option Agreement under the Allied World
Assurance Company Holdings, Ltd Second Amended and Restated 2001 Employee Stock
Option Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3 (1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allied World Assurance Company Holdings, Ltd 2008 Employee Share Purchase Plan</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Conyers Dill &#038; Pearman</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche, an independent registered public accounting firm</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Conyers Dill &#038; Pearman (included as part of Exhibit&nbsp;5.1).</TD>
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    <TD>&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature page).</TD>
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    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Incorporated herein by reference to our Quarterly Report on Form 10-Q filed with the
Commission on May&nbsp;9, 2008.</TD>
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[{"type": "S-8", "sequence": "1", "filename": "y59691sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 49075}]
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FORM S-8
Table of Contents
As filed with the Securities and Exchange Commission on May 30, 2008
Registration No. 333-
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD
(Exact name of registrant as specified in its charter)
Bermuda
(State or other jurisdiction of
incorporation or organization)
98-0481737
(I.R.S. Employer
Identification No.)
27 Richmond Road
Pembroke HM 08, Bermuda
(Address of Principal Executive Offices, including Zip Code)
Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2001 Employee Stock Option Plan
Allied World Assurance Company Holdings, Ltd 2008 Employee Share Purchase Plan
(Full title of the plans)
CT Corporation System
111 Eighth Avenue, 13th Floor
New York, New York 10011
(Name and Address of Agent for Service)
(212) 894-8940
(Telephone number, including area code, of agent for service)
Copies to:
Wesley D. Dupont, Esq.
Allied World Assurance Company Holdings, Ltd
27 Richmond Road
Pembroke HM 08, Bermuda
(441) 278-5400
(441) 292-0055 (Facsimile)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act. (Check one):
Large accelerated filer
þ
Accelerated filer
o
Non-accelerated filer
o
(Do not check if a smaller reporting company)
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities
Amount to be
offering price per
aggregate offering
Amount of
to be registered
registered (1)
share (2)
price (2)
registration fee
Common
shares, par value $0.03 per share
3,000,000
$45.43
$136,290,000
$5,357
(1)
This Registration Statement covers an additional 2,000,000 common shares, par value $0.03 per
share (the "Shares"), of Allied World Assurance Company Holdings, Ltd (the "Company")
authorized to be offered and sold pursuant to the Company's Second Amended and Restated 2001
Employee Stock Option Plan (the "Stock Option Plan") and 1,000,000 Shares authorized to be
offered and sold pursuant to the Company's 2008 Employee Share Purchase Plan (the "Share
Purchase Plan"), each as may be amended from time to time (collectively, the "Plans"). In
addition, this Registration Statement covers an indeterminable number of additional Shares as
may hereafter be offered or issued, pursuant to the Plans, to prevent dilution resulting from
stock splits, stock dividends or similar transactions effected without receipt of
consideration.
(2)
Estimated solely for calculating the amount of the registration fee, pursuant to paragraphs
(c) and (h) of Rule 457 under the Securities Act of 1933. The price per share is estimated
based on the average of the high and low trading prices for Allied World Assurance Company
Holdings, Ltd's common shares on May 27, 2008, as reported by the New York Stock Exchange.
Explanatory Note
Solely with respect to the 2,000,000 additional Shares being registered for offer and sale
pursuant to the Stock Option Plan (the "Additional Shares"), this Registration Statement
incorporates by reference the Company's previous Registration Statement on Form S-8 (Registration
No. 333-136420) filed with the U.S. Securities and Exchange Commission (the "Commission") on
August 8, 2006, and consists only of those items required by General Instruction E to Form S-8.
The remaining items, as well as other items contained herein that are required on Form S-8 for such
purpose, pertain to the registration of the 1,000,000 Shares being registered for offer and sale
pursuant to the Share Purchase Plan.
TABLE OF CONTENTS
PART I
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
INDEX TO EXHIBITS
EX-5.1: OPINION OF CONYERS DILL & PEARMAN
EX-23.1: CONSENT OF DELOITTE & TOUCHE
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I of this Registration Statement on
Form S-8 (this "Registration Statement") will be sent or given to participating employees as
specified in Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities Act"), in
accordance with the rules and regulations of the Commission. Such documents are not being filed
with the Commission either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 of the Securities Act. These documents and the documents
incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this
Registration Statement, taken together, constitute a prospectus that meets the requirements of
Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
We file annual, quarterly and current reports and other information with the Commission. The
Commission allows us to "incorporate by reference" the information we file with it, which means
that we can disclose important information to you by referring to those documents. The information
incorporated by reference is an important part of this Registration Statement. We incorporate by
reference the following previously filed documents:
(a)
our Annual Report on Form 10-K for the year ended December 31, 2007, filed with
the Commission on February 29, 2008;
(b)
our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2008,
filed with the Commission on May 9, 2008;
(c)
our Current Reports on Form 8-K, filed with the Commission on January 8, March
5 and May 16, 2008;
(d)
with respect to the registration of the Additional Shares, our Registration
Statement on Form S-8 (Registration No. 333-136420) filed with the Commission on
August 8, 2006; and
(e)
the description of our common shares, par value $0.03 per share, which is
contained in our Registration Statement on Form 8-A (Registration No. 001-32938), filed
with the Commission on July 6, 2006, pursuant to the Securities Exchange Act of 1934,
as amended (the "Exchange Act").
In addition, all documents filed by us with the Commission pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act subsequent to the date of this Registration Statement and prior to
the filing of a post-effective amendment to this Registration Statement which indicates that all
the securities offered hereby have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a
part hereof from the date of the filing of such documents with the Commission. Any statement
contained in a document incorporated by reference herein shall be deemed to be modified or
superseded for purposes hereof to the extent that a statement contained herein (or in any other
subsequently filed document which also is incorporated by reference herein) modifies or supersedes
such statement. Any statement so modified or superseded shall not be deemed to constitute a part
hereof except as so modified or superseded.
- 1 -
Table of Contents
Item 4. Description of Securities
Not applicable.
Item 5. Interests of Named Experts and Counsel
Not applicable.
Item 6. Indemnification of Directors and Officers
We are a Bermuda exempted company. Section 98 of the Companies Act 1981 of Bermuda
(the "Companies Act") provides generally that a Bermuda company may indemnify its directors,
officers and auditors against any liability which by virtue of any rule of law would otherwise be
imposed on them in respect of any negligence, default, breach of duty or breach of trust, except in
cases where such liability arises from fraud or dishonesty of which such director, officer or
auditor may be guilty in relation to the company. Section 98 further provides that a Bermuda
company may indemnify its directors, officers and auditors against any liability incurred by them
in defending any proceedings, whether civil or criminal, in which judgment is awarded in their
favor or in which they are acquitted or granted relief by the Supreme Court of Bermuda pursuant to
section 281 of the Companies Act.
We have adopted provisions in our Bye-laws that provide that we shall indemnify our officers
and directors in respect of their actions and omissions, except in respect of their fraud or
dishonesty. We have also entered into indemnification agreements with our directors and certain of
our officers to indemnify such persons, to the fullest extent permitted by applicable law (except
in certain limited circumstances) and our Bye-laws and Memorandum of Association, against all
expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred in
connection with any threatened, pending or completed criminal, civil, administrative or
investigative action brought against such persons or in which such person otherwise becomes
involved as a witness by reason of his or her relationship with the company. The indemnification
agreements also provide for indemnification rights regarding proceedings brought by or in the right
of the company.
Our Bye-laws provide that the shareholders waive all claims or rights of action that they
might have, individually or in right of the company, against any of our directors or officers for
any act or failure to act in the performance of such director's or officer's duties, except in
respect of any fraud or dishonesty of such director or officer. Section 98A of the Companies Act
permits us to purchase and maintain insurance for the benefit of any officer or director in respect
of any loss or liability attaching to him in respect of any negligence, default, breach of duty or
breach of trust, whether or not we may otherwise indemnify such officer or director. We have
purchased and maintain a directors' and officers' liability policy for such a purpose.
Item 7. Exemption from Registration Claimed
Not applicable.
- 2 -
Table of Contents
Item 8. Exhibits
Exhibit No.
Description of Exhibit
4.1 (1)
Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2001
Employee Stock Option Plan
4.2 (1)
Form of Option Grant Notice and Option Agreement under the Allied World
Assurance Company Holdings, Ltd Second Amended and Restated 2001 Employee Stock
Option Plan
4.3 (1)
Allied World Assurance Company Holdings, Ltd 2008 Employee Share Purchase Plan
5.1
Opinion of Conyers Dill & Pearman
23.1
Consent of Deloitte & Touche, an independent registered public accounting firm
23.2
Consent of Conyers Dill & Pearman (included as part of Exhibit 5.1).
24
Power of Attorney (included on the signature page).
(1)
Incorporated herein by reference to our Quarterly Report on Form 10-Q filed with the
Commission on May 9, 2008.
Item 9. Undertakings
1. The undersigned registrant hereby undertakes:
(a) To file, during any period in which offers or sales are being made, a post-effective
amendment to the Registration Statement:
(i) to include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) to reflect in the prospectus any facts or events arising after the effective
date of the Registration Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in
the information set forth in the Registration Statement;
(iii) to include any material information with respect to the plan of distribution
not previously disclosed in the Registration Statement or any material change to
such information in the Registration Statement;
provided
,
however
, that paragraphs (1)(a)(i) and (1)(a)(ii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the Company pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(b) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities
- 3 -
Table of Contents
offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
(c) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
2. The undersigned registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act that is incorporated by reference in the Registration Statement
shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
3. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or
otherwise, the Company has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the
Company of expenses incurred or paid by a director, officer or controlling person of the Company in
the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
- 4 -
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in Pembroke, Bermuda, on the 30
th
day of
May, 2008.
ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD
By:
Name:
/s/ Scott A. Carmilani
Scott A. Carmilani
Title:
President and Chief Executive Officer
In accordance with the requirements of the Securities Act of 1933, as amended, this
Registration Statement has been signed by the following persons in the capacities and on the dates
stated. Each person whose signature appears below constitutes and appoints Scott A. Carmilani and
Wesley D. Dupont, and each of them severally, as his or her true and lawful attorney-in-fact and
agent, each acting along with full power of substitution and resubstitution, for him or her and in
his or her name, place and stead, in any and all capacities, to sign any or all amendments
(including post-effective amendments) and exhibits to this Registration Statement on Form S-8, and
to any registration statement filed under Commission Rule 462, and to file the same, with all
exhibits thereto, and all documents in connection therewith, with the Commission and/or the Bermuda
Registrar of Companies, granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as he or she might or could do in person, hereby
ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
/s/ Scott A. Carmilani
Name: Scott A. Carmilani
President, Chief Executive Officer and Chairman
of the Board
(Principal Executive Officer)
May 30, 2008
/s/ Joan H. Dillard
Name: Joan H. Dillard
Senior Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)
May 30, 2008
/s/ Bart Friedman
Name: Bart Friedman
Deputy Chairman of the Board
May 30, 2008
/s/ James F. Duffy
Name: James F. Duffy
Director
May 30, 2008
- 5 -
Table of Contents
Signature
Title
Date
/s/ Scott Hunter
Name: Scott Hunter
Director
May 30, 2008
/s/ Michael I.D. Morrison
Name: Michael I.D. Morrison
Director
May 30, 2008
/s/ Mark R. Patterson
Name: Mark R. Patterson
Director
May 30, 2008
/s/ Samuel J. Weinhoff
Name: Samuel J. Weinhoff
Director
May 30, 2008
/s/ Donald J. Puglisi
Puglisi & Associates
Authorized Representative in the United States
May 30, 2008
- 6 -
Table of Contents
INDEX TO EXHIBITS
Exhibit No.
Description of Exhibit
4.1 (1)
Allied World Assurance Company Holdings, Ltd Second Amended and Restated 2001
Employee Stock Option Plan
4.2 (1)
Form of Option Grant Notice and Option Agreement under the Allied World
Assurance Company Holdings, Ltd Second Amended and Restated 2001 Employee Stock
Option Plan
4.3 (1)
Allied World Assurance Company Holdings, Ltd 2008 Employee Share Purchase Plan
5.1
Opinion of Conyers Dill & Pearman
23.1
Consent of Deloitte & Touche, an independent registered public accounting firm
23.2
Consent of Conyers Dill & Pearman (included as part of Exhibit 5.1).
24
Power of Attorney (included on the signature page).
(1)
Incorporated herein by reference to our Quarterly Report on Form 10-Q filed with the
Commission on May 9, 2008.