Transatlantic Re Winds Down Asbestos Contracts with AIG, Berkshire Hathaway

Weston Hicks’s Alleghany Corp. will pay $400 million to wind down reinsurance deals with American International Group Inc. and Warren Buffett’s Berkshire Hathaway Inc. for policies that date back decades. Transatlantic Reinsurance Co., owned by Alleghany, will end contracts that …

from Insurance Journal » News