Insight and Intelligence on the London & International Insurance Markets

22 May 2012

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Run-off M&A simmers through the summer

10 September 2010

Innovative restructurings and M&A in the run-off market continued this summer demonstrating that, despite its dowdy reputation, the legacy industry continues to embrace new solutions for dealing with old business. The activity ranged from straight-forward M&A to multi-faceted reinsurance transactions.

The highlight of the summer was Berkshire Hathaway's retrospective reinsurance contract with CNA, providing the firm with up to $4bn of adverse development long-tail asbestos/environmental cover.

CNA at the end of August completed the transfer to Berkshire Hathaway's National Indemnity...

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