Lexington Insurance Company

Lexington Insurance Company

Lexington Insurance Company was chartered in Delaware in 1965 and established its operational home in Boston, where it built its reputation as a leading U.S. excess and surplus (E&S) lines carrier. AIG acquired the company in 2001, folding it into the General Insurance segment as a core subsidiary. Lou Levinson serves as President and CEO, overseeing a platform that historically generates billions in annual gross premiums written, though AIG does not break out Lexington's standalone financials. The firm's statutory filings confirm its role as a primary underwriting engine within AIG's North American commercial insurance operations. The firm operates three principal divisions: property, casualty, and personal lines. Its property book covers all-risk and named-peril policies for complex commercial real estate, including layered property programs for large corporations and middle-market risks. The casualty division writes primary and excess liability, construction liability, and environmental coverages. Lexington participates in vertical chains such as AIG's real estate practice and sports risk solutions, and it pools business with affiliated entities like National Union Fire Insurance Company of Pittsburgh, Pa. The firm distributes exclusively through wholesale brokers — a model that bypasses retail intermediaries and gives it direct access to the E&S market's most challenging submissions. Lexington maintains its statutory real estate holdings, a bond portfolio, and cash and short-term investments in the United States. The firm is an active participant in industry trade bodies, including board and committee leadership at the Wholesale & Specialty Insurance Association (WSIA), and it is a key reporting entity for the Excess Line Association of New York (ELANY). Through AIG, Lexington connects to the AIG Foundation, the parent company's philanthropic vehicle. The firm does not disclose total invested assets or surplus independently; those figures roll up into AIG's consolidated balance sheet, which reported roughly $260 billion in total assets as of year-end 2024. Lexington's structural differentiator is its position as a pure wholesale E&S platform inside a global balance-sheet carrier. That architecture lets it deploy admitted-market capacity through a non-admitted chassis, giving underwriters freedom from rate and form regulation while still accessing AIG's reinsurance and capital-markets resources. This hybrid model — a surplus-lines insurer that isn't a standalone specialty carrier — creates flexibility that few competitors in the E&S space can replicate.