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With a $7 billion deal in the works to take over Lloyd’s Equitas operation, Berkshire Hathaway is gambling that the move will be profitable in the long term because of its expertise with asbestos claims, according to a brokerage expert. The move, which analysts greeted positively, will see Equitas–Lloyd’s runoff operation for asbestos and other long-term exposures–buying $7 billion in reinsurance from the Berkshire subsidiary National Indemnity Company, which will run its operations.

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