AIG increases global commercial property limits to US$2.5 billion from US$1.5 billion

American International Group, Inc. (AIG) announced on Tuesday that it has significantly raised available global commercial property limits to US$2.5 billion per occurrence. The announcement builds on AIG’s capacity of US$1.5 billion per occurrence available globally to clients since 2012.

The move responds to the growing demand for capacity and services by clients managing more complex global risks and increasing property values, AIG said in a press release. It also reflects AIG’s “greater appetite for property risk based on its ongoing expansion of risk engineering and data analytics capabilities.”

AIG said that it has found that more companies, particularly those operating as multinationals, are looking to partner with insurers that have the capabilities and coverage limits to help protect them against the broad spectrum of risks they face worldwide.

“Clients are realizing the benefits of AIG’s continued investments to bolster our engineering and analytics capabilities,” said George Stratts, global head of property, in the release. “We are committed to providing the capacity our clients need and to using a data-driven approach to help them manage the complexity of their global risks. We want to be a strategic partner for our clients to help them improve their businesses and lower their cost of risk.”

AIG is a global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers. In addition, AIG companies are providers of life insurance and retirement services in the United States.