American International Group (AIG) lost its long-held spot at the top of the surplus market in 2010 after a 13 percent decrease in direct-premiums written, says insurance-rating-agency A.M. Best Co. in a special report released at this year's NAPSLO convention.
The report reveals Lloyd's of London has taken over as the leader in surplus-lines market share with 18.3 percent compared with 16.8 percent held by AIG companies. Direct-premiums written at AIG's Lexington Insurance Co. fell 15 percent.
Combined, Lloyd's and AIG account for more than one-third of the market.
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