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BRK Assurance exposure half gone


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From BRK's latest 10Q -

"Subsequent to June 30, 2012, Berkshire entered into an agreement with the counterparty to certain of the state/municipality contracts to terminate contracts with notional values of $8.25 billion. Future loss payments, if any, related to the remaining 50% of the notional value of the state/municipality contracts cannot be unilaterally settled before the maturity dates of the underlying municipality obligation, which range from 2019 to 2054."

 

This is about half of the notional value of the BRK Assurance muni bond insurance business.  Is Fairfax the only counterparty that holds this big of a position in BRK-insured bonds?

 

Think it was FFH that terminated the coverage?

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