Who Owns Lexington Insurance?
Lexington Insurance Company is a wholly-owned subsidiary of American International Group, Inc. (NYSE: AIG) and the largest excess and surplus lines insurer in the United States. Founded in 1965 and headquartered in Boston, Massachusetts, it writes coverage for risks that standard admitted-market insurers decline, distributed exclusively through wholesale brokers.
Parent Company
Founded
1965
Status
Publicly Traded
Headquarters
Lexington Insurance Timeline
United StatesOfficial Website
Who Owns Lexington Insurance?
- Parent Company: American International Group, Inc.
- Ownership Type: Subsidiary
- Company Type: Publicly Traded
- Stock Ticker: New York Stock Exchange: AIG
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Lexington Insurance | American International Group, Inc. | Subsidiary |
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History of Lexington Insurance
- Founded: 1965
- Founders: American International Group (heritage member company)
Lexington Insurance Company was founded in 1965, pioneering what became the modern excess and surplus lines market in the United States. The E&S segment exists for risks that admitted-market insurers either cannot or will not cover: unusual exposures, high hazard industries, distressed accounts, new products without loss history, and limits beyond what standard carriers offer. Lexington built its franchise as the category's defining company.
The company became part of the AIG organization and grew into the group's flagship for non-admitted business. Through the 1980s and 1990s, as AIG expanded into the largest US insurer, Lexington anchored the surplus lines side of the book, writing everything from demolition contractors to environmental liability to coastal property that admitted carriers had abandoned.
Lexington's model survived AIG's post-2008 retrenchment intact. While the parent sold life businesses, spun off Corebridge, and exited reinsurance, the E&S franchise stayed inside the General Insurance core because wholesale-brokered specialty risk remained one of AIG's genuinely differentiated capabilities.
The modern era has been a growth period. E&S premiums across the US market expanded sharply after 2019 as admitted carriers tightened appetite on catastrophe-exposed property, litigation-prone liability classes, and emerging risks like cannabis and cyber. Lexington, as the market's largest writer, captured disproportionate share of that migration. At AIG's investor presentations, management has highlighted submission growth in the Lexington business as evidence of the segment's momentum, and the unit features prominently in the company's North America Commercial strategy.
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The subsidiary received an S&P financial strength rating upgrade to AA- in May 2025, part of a synchronized upgrade across AIG's core operating companies that signaled the parent's restored underwriting credibility.
About American International Group, Inc.
What does American International Group own?
AIG owns a group of regulated insurance subsidiaries including National Union Fire Insurance Company, American Home Assurance, Lexington Insurance, Talbot Underwriting at Lloyd's, Western World, and Glatfelter. It also owns the Travel Guard travel insurance brand and held a 10.1 percent stake in former subsidiary Corebridge Financial at the end of 2025.
Is American International Group publicly traded?
Yes. AIG trades on the New York Stock Exchange under ticker AIG and is a component of the S&P 500. The company went public in 1969. Its shares are widely held by institutional investors.
Who founded American International Group?
Cornelius Vander Starr founded the company in Shanghai in 1919 as American Asiatic Underwriters, a general insurance agency serving Western businesses in China. Starr moved the headquarters to New York in 1939 and built the organization into a multinational insurer.
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Where is American International Group headquartered?
AIG is headquartered in New York, New York, USA. The company has been based in New York since 1939, when Starr relocated from Shanghai ahead of World War II. It operates in more than 200 countries and jurisdictions.
How many brands does American International Group own?
AIG primarily operates under the single AIG master brand. Distinct brands include Lexington Insurance, the largest US excess and surplus lines insurer, and Travel Guard for travel coverage. Regulated underwriting entities such as National Union, American Home, and Talbot issue policies largely under the AIG name.
Who owns American International Group?
AIG is owned by its public shareholders, with no controlling owner. Major institutional holders include Vanguard, BlackRock, and State Street. The US Treasury owned up to 92 percent during the 2008 bailout but exited completely in December 2012.
Did the government profit from the AIG bailout?
Yes. The Federal Reserve and Treasury committed up to $182 billion in support in 2008 and 2009. AIG repaid all assistance by the end of 2012, and the government recorded a combined profit of approximately $22.7 billion on the rescue.
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- Founded: 1919
- Headquarters: New York, New York, USA
- Company Type: Publicly Traded
- Stock: New York Stock Exchange: AIG
- Revenue: $23.7 billion net premiums written (FY2025)
- Employees: Approximately 22,100
Where Is Lexington Insurance Made / Based?
- Headquarters: Boston, Massachusetts, USA
Lexington Insurance Categories & Tags
Brands Owned by American International Group, Inc.
InsuranceAIG
Owned by American International Group, Inc.
Master insurance brand of American International Group, covering commercial, personal, and travel insurance products in more than 200 countries.
insurancecommercial-insuranceproperty-casualty
InsuranceTravel Guard
Owned by American International Group, Inc.
Travel insurance and assistance brand of AIG, covering trip cancellation, medical emergencies, and evacuation for travelers worldwide.
travel-insuranceaigtrip-protection
Lexington Insurance Ownership: Pros & Cons
Advantages
- +Largest writer in the fastest-growing segment of US commercial insurance
- +Non-admitted status allows pricing and form flexibility
- +AA- financial strength rating upgraded by S&P in 2025
- +Wholesale-broker distribution aligns with how E&S business is actually placed
- +Core position inside AIG's commercial strategy, insulated from divestiture history
Considerations
- -E&S lines concentrate in precisely the catastrophe and litigation risks admitted carriers avoid
- -No consumer brand presence, fully dependent on broker relationships
- -Growth tied to admitted-market pullback, which could reverse if competitors return
- -Carries AIG parent's residual reputational history in institutional markets
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Frequently Asked Questions About Lexington Insurance
Sources & Further Reading
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Competitors to Lexington Insurance
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Markel | USA | 1930 | Mass market | United states | All Genders | |
| W R Berkley | USA | 1967 | Mass market | United states | All Genders | |
| American Financial Group | USA | 1959 | Mass market | United states | All Genders | |
| Assurant | USA | 1892 | Mass market | Global | All Genders | |
| Chubb | USA (executive offices) | 1882 | Market leader | Global | All-ages | |
| American Financial Group | USA | 1872 | Mass market | United states | All Genders |
Learn More About Competitors
Financial ServicesMarkel
Owned by Markel Group Inc.
Specialty insurance brand of Markel Group Inc., covering excess and surplus lines, programs, and unusual risks since 1930.
insurancespecialty-insurancees-lines
InsuranceW. R. Berkley
Owned by W. R. Berkley Corporation
Specialty commercial property and casualty insurance brand of W. R. Berkley Corporation, a Greenwich, Connecticut holding company listed on the NYSE.
insuranceproperty-casualtyspecialty-insurance
InsuranceAmerican Financial Group
Owned by American Financial Group, Inc.
The corporate brand of American Financial Group, Inc., the Cincinnati insurance holding company behind Great American Insurance Group.
insuranceproperty-casualtyspecialty-insurance
InsuranceAssurant
Owned by Assurant, Inc.
Specialty insurance brand of Assurant, Inc. covering device protection, extended warranties, vehicle service contracts, and lender-placed home insurance.
insurancedevice-protectionextended-warranty
InsuranceChubb
Owned by Chubb Limited
Flagship insurance brand of Chubb Limited, the world's largest publicly traded property and casualty insurer, covering commercial, personal, and specialty insurance in 54 countries.
insuranceproperty-casualtycommercial-insurance
InsuranceGreat American Insurance Group
Owned by American Financial Group, Inc.
The operating insurance brand of American Financial Group, spanning 36 specialty property and casualty businesses with roots to 1872.
insuranceproperty-casualtycommercial-insurance
Competitive Analysis
Market Positioning: Lexington Insurance competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to Lexington Insurance
Looking for brands with different ownership structures? These similar brands are not owned by American International Group, Inc., giving you alternative choices that support different corporate structures.
InsuranceMain Street America Insurance
Owned by American Family Insurance Mutual Holding Company
Commercial and farm insurance brand headquartered in Jacksonville, Florida, founded in 1923 as National Grange Mutual. Owned by American Family Insurance since a 2018 mutual merger.
insurancecommercial-insurancemutual
Privately Owned
Main Street America Insurance is privately owned, unlike Lexington Insurance which is under a publicly traded parent company.
InsuranceAllied Insurance
Owned by Nationwide Mutual Insurance Company
Des Moines-founded insurance brand of Nationwide Mutual, serving independent agents and brokers for personal and small commercial lines since 1929.
insuranceindependent-agentsproperty-casualty
Privately Owned
Allied Insurance is privately owned, unlike Lexington Insurance which is under a publicly traded parent company.
InsuranceAmerican Family Insurance
Owned by American Family Insurance Mutual Holding Company
Flagship insurance brand of the American Family Insurance mutual group, founded in 1927. Auto, home, life, farm, and business coverage sold through exclusive agents in 19 states.
insuranceauto-insurancehome-insurance
Privately Owned
American Family Insurance is privately owned, unlike Lexington Insurance which is under a publicly traded parent company.
InsuranceAuto-Owners Insurance
Owned by Auto-Owners Insurance Company
Flagship brand of Auto-Owners Insurance Company, the policyholder-owned mutual insurer selling auto, home, business, and life coverage through independent agents since 1916.
insurancemutual-insuranceauto-insurance
Privately Owned
Auto-Owners Insurance is privately owned, unlike Lexington Insurance which is under a publicly traded parent company.
InsuranceFarmers Insurance
Owned by Farmers Insurance Group of Companies
Flagship brand of Farmers Insurance Group, the policyholder-owned insurer selling auto, home, and life coverage through exclusive and independent agents since 1928.
insurancemutual-insuranceauto-insurance
Privately Owned
Farmers Insurance is privately owned, unlike Lexington Insurance which is under a publicly traded parent company.
InsuranceHomesite Insurance
Owned by American Family Insurance Mutual Holding Company
Direct-to-consumer homeowners, renters, and condo insurance brand founded in Boston in 1997. Acquired by American Family Insurance in 2013 for approximately $616 million.
insurancehomeowners-insurancerenters-insurance
Privately Owned
Homesite Insurance is privately owned, unlike Lexington Insurance which is under a publicly traded parent company.
American International Group, Inc. Stock Information
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