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American International Group, Inc. has raised available global commercial property limits to $2.5 billion per occurrence.
“The move responds to the growing demand for capacity and services by clients managing more complex global risks and increasing property values,” said AIG in a statement issued Tuesday. “It also reflects AIG's greater appetite for property risk based on its ongoing expansion of risk engineering and data analytics capabilities.”
AIG has offered limits of $1.5 billion per occurrence since 2012.
Don Pickens has been named chief underwriting officer for Zurich Insurance Zurich Global Corporate in North America, Zurich announced Wednesday.