Mayer Brown announced today that it represented The Hartford Financial Services Group, Inc. on its definitive agreement with National Indemnity Company, a subsidiary of Berkshire Hathaway Inc., for a $1.5 billion aggregate excess of loss reinsurance agreement covering certain of The Hartford’s asbestos and environmental liability exposures. The reinsurance premium for the agreement is $650 million.

The Hartford is a leader in property and casualty insurance, group benefits and mutual funds.

The New York-based Mayer Brown team included partners David Alberts and Richard Spitzer and associate Arnold Itagaki.