AIG shifts asbestos claims to Berkshire unit

CHARLOTTE, North Carolina |
Wed Apr 20, 2011 8:37am EDT


CHARLOTTE, North Carolina (Reuters) - American International Group Inc's (AIG.N) Chartis unit will transfer the bulk of its asbestos liabilities to Berkshire Hathaway Inc's (BRKa.N) National Indemnity Co, AIG said on Wednesday.

AIG's global property casualty unit will cede up to $3.5 billion in potential asbestos claims to National Indemnity under a retroactive reinsurance deal.Chartis will pay

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