Catalina

If Catalina signs the deal, it will be the third UK employers' liability book it has acquired in just over two years.

Berkshire Hathaway is understood to have shown early interest in the UK employers' liability book.

Catalina today announced it had assumed a portfolio of run-off US P&C liabilities from Arch Re, with net outstanding reserves of about $410mn.

The legacy sector has seen surging deal volumes of late, but the major inflows of capital into the space look set to choke off returns, with the live market’s depressed returns a cautionary tale for run-off acquirers.