A sampling of Berkshire Hathaway's deals

A sampling of Berkshire Hathaway’s deals.

June 1999

As part of the acquisition of CIGNA’s property and casualty business, National Indemnity Co. provides $2.5 billion of reinsurance protection to Century Indemnity on all asbestos and environmental claims.

May 2000

National Indemnity agrees to assume up to $240 million in asbestos and environmental risk from Stonewall Insurance Co., in exchange for $126 million and other considerations.

June 2001

National Indemnity agrees to assume $2.5 billion in asbestos and environmental risk from OneBeacon Insurance Co.

November 2006

Lloyd’s of London’s Equitas division signs on with National Indemnity. Berkshire Chairman/CEO Warren Buffett explains, in a related letter to shareholders about the Equitas deal, that Berkshire “would pay all of its future claims and expenses up to $13.9 billion” in exchange for $7.12 billion.

July 2010

Subsidiaries of CNA Financial Corp. transfer their legacy asbestos and pollution risk to National Indemnity. CNA pays $2 billion to National Indemnity for up to $4 billion in coverage.

April 2011

National Indemnity assumes up to $3.5 billion of asbestos risk from Chartis, a branch of American Insurance Group, in exchange for $1.65 billion. The transfer includes “the bulk of Chartis’ legacy asbestos liabilities.”

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