IAG buys Berkshire adverse development cover

IAG revealed that it had entered a new adverse development cover
with Berkshire Hathaway as it reported its results for the
half-year ended 31 December 2015.
The Australian carrier had previously signed a 10-year 20
percent quota share deal with the reinsurer in June 2015.
The quota share reduced IAG's net earned premium by 20.4
percent to A$4.1bn for the half-year. But insurance profit fell
more narrowly by 12 percent year-on-year to A$610mn due to the
benefit of A$373mn of...