NU Online News Service, April 21, 1:59 p.m. EDT
Moody’s Investors Service says a recently announced transaction that will see Chartis transfer legacy asbestos claims to National Indemnity Insurance Company (NICO) is credit positive for Chartis, as it reduces the insurer from adverse development of asbestos liabilities.
Chartis is the property and casualty unit of American International Group, Inc. NICO is the flagship reinsurer of Berkshire Hathaway Inc.
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