Equitas, Lloyd's runoff operation for long-term exposures, and Berkshire Hathaway Inc. announced today that Equitas was buying $7 billion in reinsurance from a Berkshire subsidiary, which will run its operations.
London-based Equitas and Omaha, Neb.-based Berkshire said under the agreement in principle National Indemnity Company, a member of the Berkshire Hathaway group of insurance companies, will:
o Reinsure all Equitas' liabilities;
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