(Bloomberg) -- AllianzSE, Europe’s biggest insurer, struck a deal to limit risks inthe U.S. by transferring policy obligations to reinsurer Enstar Group Ltd.

Enstar will assume net reinsurance reserves of about $1.1billion and cover half of a book of business for Allianz, accordingto a statement Wednesday from the Bermuda-based company. The dealincludes obligations on policies from workers’ compensation,construction defects, and asbestos that were issued under theFireman’s Fund brand.

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