Berkshire Hathaway and National Indemnity reduce their stakes in Munich Re

Warren Buffett, founder and owner of Berkshire Hathaway has cut its shares in the German reinsurer Munich Re. It is via the two companies he controls, Berkshire Hathaway and National Indemnity, that this reduction from 12% to 9.7% materialized.

The forecasts of the reinsurance market’s decreased profitability are at the origin of this decision. We must recall that in the past, Warren Buffet fought hard to increase his stakes in Munich Re from 3% to nearly 12% in 2010.