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UK Aviation pool restructures

Aviva is quitting its stake in the major British aviation underwriting pool, and Royal & SunAlliance has cut its exposure from 50% to 10%. The pool, which is managed by Global Aerospace Underwriting managers, already has a new major stakeholder – Berkshire Hathaway, which bought 25%. Other shareholders are Chubb, CNA, Tokyo Marine & Fire and Mitsui.