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LONDON--Lexington Insurance Co. has created a new midlayer excess casualty unit offering $50 million in capacity.
Based in London, the new unit will focus on nonlead layer excess casualty programs with attachment points of $25 million or more, Lexington's parent, New York-based American International Group Inc., said Thursday in a statement.
"The new capacity will not diminish existing capacity already committed on a risk layered program from Lexington," AIG said.
Mark Hill, vp at Lexington, will lead the Casualty Mid-Excess unit, reporting to Peter Bone.