Lexington Insurance Co., an AIG company, has increased its capacity for commercial domestic property insurance by an additional $1 billion,
raising the total non-catastrophe property capacity to $1.5 billion.
Lexington’s additional $1 billion capacity covers North American-based commercial occupancies on any non-catastrophe exposed account, including commercial real estate, manufacturing, municipalities, retail and healthcare risks and can be offered on a global basis.
The commercial property coverage is available through Lexington’s retailers, wholesalers, and Lexington’s London and Bermuda operations for North American-based property risks.
“The increased capacity allows us to help a market segment we believe is currently underserved,” said Kevin Kelley, chairman and chief executive officer of Lexington.
Source: Lexington Insurance Co.
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