Warren Buffett: Munich Re 'Pleased' With Warren Buffett's $1 Billion Stake

The German reinsurance giant Munich Re says its happy Warren Buffett has a built a stake in the company worth over $1 billion.

A spokeswoman for the company tells Dow Jones, "We are pleased about every investor, that's a confirmation of our sustainable strategy."

This morning, Munich Re announced that Berkshire Hathaway's stake stood at 3.045 percent on January 18. The three percent level triggers a public disclosure under German rules.

Reuters quotes JP Morgan analyst Michael Huttner as saying, "It appears to be a portfolio investment for Buffett rather than a strategic one." According to Reuters, Morgan believes industry regulatory changes could greatly benefit Munich Re "because of its ability to generate excess capital and grow its business." Click here

Jan Hýsek