Warren Buffett ups stake in reinsurer Munich Re

first_img Show Comments ▼ Warren Buffett ups stake in reinsurer Munich Re US INVESTOR Warren Buffett has raised his stake in reinsurer Munich Re to above 10 per cent and plans to further expand the holding, the firm said yesterday.The world’s biggest reinsurer said in a statement that Buffett’s Berkshire Hathaway had repeated its assurances in a letter that the investment was financial, rather than strategic.Berkshire also did not aim to influence Munich Re’s management, its direction or the company’s supervisory bodies, Munich Re said.“It is not intended to significantly change the capital structure of [Munich Re] …in particular not with regard to the equity/debt ratio or the dividend policy,” Munich Re said in a summary of Buffett’s letter.Berkshire intends to acquire further voting rights within the next 12 months, Munich Re added.Reinsurer Berkshire has been steadily raising his holding in its Munich-based rival since crossing the three per cent threshold in January.Munich Re said it “rejoices at every investor”. Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content Tags: NULL Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndocenter_img Tuesday 19 October 2010 7:47 pm Share whatsapp whatsapplast_img