Chartis boosts property capacity to $1.5B per risk worldwide

NEW YORK—Chartis Inc. has increased its capacity per commercial property risk to $1.5 billion on a worldwide basis, the American International Group Inc. unit announced Monday.

That level of capacity previously was available only to Chartis' North American clients, underwritten by Lexington insurance Cos.

Limits varied previously elsewhere in the world, and the move provides uniformity for Chartis customers, said George Stratts, president-global property for Chartis. He said the increased global capacity supports all customers with large-limit, highly protected risks coverage needs regardless of where they are domiciled.

“Chartis' engineering capabilities make this possible,” Mr. Stratts said. “We have a capability to provide wide-ranging services.”