|LEXINGTON INSURANCE COMPANY INCREASES DOMESTIC PROPERTY CAPACITY TO $250 MILLION|
|PDF Version |
NEW YORK--June 22, 2006--Lexington Insurance Company, a member company of American International Group, Inc. (AIG), today announced the company has increased its capacity of commercial domestic property insurance to $250 million from $100 million.
"Lexington is committed to providing a meaningful facility for commercial property risks. This announcement represents a substantial commitment of capacity to our client base, many of whom maintain significant commercial property schedules," said Kevin Kelley, Chairman and Chief Executive Officer of Lexington Insurance Company.
Lexington's increased capacity of $250 million covers all commercial property on any non-catastrophe account. The $250 million in capacity will cover not only commercial buildings, but will also cover municipalities, retail spaces, office buildings and hotels. This facility supports Lexington's industry focus in key areas such as healthcare, real estate, and higher education as well as hospitals, higher education and communications risks.
"Not only does Lexington offer significant critical catastrophe capacity up to $25 million, but now the company provides considerable capacity for non-catastrophic risks as well," said George Stratts, Division Executive and Senior Vice President of Lexington Insurance Company.
For more information on Lexington's property capacity or insurance contact George Stratts, Division Executive and SVP, Lexington Insurance at (617) 330-8433 or firstname.lastname@example.org.
American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
*Insurance is underwritten by member companies of American International Group, Inc., and is subject to underwriting review and approval. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage may not be available in all states. Non-insurance products may be provided through independent third parties.