CHARLOTTE, North Carolina (Reuters) - American International Group Inc's Chartis unit will transfer the bulk of its asbestos liabilities to Berkshire Hathaway Inc's 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 $1.65 billion as part of the deal, which it said will result in a deferred pretax gain of $200 million in the second quarter of 2011.
(Reporting by Joe Rauch, editing by Gerald E. McCormick)
