Non-renewed cat programs ‘tempered’ Lexington growth in Q3: AIG CEO Zaffino
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Non-renewed cat programs ‘tempered’ Lexington growth in Q3: AIG CEO Zaffino

AIG logo manhattan with zaffino updated 2022.jpg

Two large non-renewed catastrophe programs “tempered overall growth” at AIG’s excess and surplus (E&S) arm Lexington in Q3, chairman and CEO Peter Zaffino said.

Net premiums written from Lexington’s programs business decreased by 57% year-on-year in Q3.

However, excluding programs, the E&S insurer grew around 25% in the quarter, led by wholesale casualty, which rose 33%, and wholesale property, which increased 27%.

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