$5.7bn reinsurance deal completes Berkshire's Equitas buyout
Equitas has completed its reinsurance transaction with National Indemnity Company, a member of the Berkshire Hathaway group. As a result National Indemnity Company now reinsures all Equitas’ liabilities; provides a further $5.7 billion of reinsurance cover to Equitas; and has acquired Equitas Management Services.
The current management and employees of Equitas Management Services will continue to conduct the run-off of Equitas’ liabilities. The transaction has been approved by the Financial Services Authority
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