Berkshire Hathaway, Lexington in reinsurance deal
AIG's Lexington Insurance Company said that it has arranged contingent property reinsurance cover from Berkshire Hathaway’s National Indemnity Company for Lexington’s real estate portfolio, as well as policies having limits of $250m or greater, policies with home/foreign exposure and the property sections of most of Lexington’s homeowners book.
The reinsurance provides coverage under the same policy terms and conditions as issued by Lexington. In the event of a covered loss, Berkshire stands behind Lexington.
“With $4.8bn in policyholder
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