Menu

Reinsurance News

Munich Re acquires additional 11% of Global Aerospace shares

15th December 2017 - Author: Staff Writer

Munich Re has agreed to buy an additional 11% of the shares in Global Aerospace Underwriting Managers Limited, the company that manages the Global Aerospace Pool.

Munich Re logo on a signThe acquisition brings Munich Re’s total shares up to 51%, with the remaining 49% split with a subsidiary of Warren Buffett’s Berkshire Hathaway.

“We are fortunate in having the backing of two such strong and committed shareholders,” Nick Brown, Global Aerospace’s Group Chief Executive Officer (CEO), commented.

“Munich Re has long had a strategic interest in increasing its investment in Global, and this deal achieves that, while ensuring that Berkshire Hathaway continues to have a very significant interest. For our customers, pool-members and employees it is business as usual,” Brown said.

Munich Re said its share of the Pool will increase by 5% from 1st January, 2019.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Global insured average annual cat loss at $80 billion: AIR Worldwide

AIR Worldwide's 2017 Global Exceedance Probability (EP) report estimates that the 1% aggregate exceedance probability insured loss (or the 100-year...

Close