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CNA transfers $1.6bn of A&E liabilities to Berkshire Hathaway
15 July 2010
CNA Financial has said it has struck an agreement to transfer its legacy asbestos and environmental pollution liabilities to Berkshire Hathaway’s National Indemnity Company.
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CNA Financial
Berkshire Hathaway
National Indemnity Company
AM Best
CNA Financial has struck an agreement to transfer its legacy asbestos and environmental pollution liabilities to Berkshire Hathaway’s National Indemnity Company.
Under the agreement, effective January 1 2010 CNA will cede around $1.6bn of net asbestos and environmental pollution liabilities to NICO under a retroactive reinsurance agreement with an aggregate limit...
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