Munich Re takes majority stake in Global Aerospace

Munich Re has agreed to purchase an additional 11 percent of the shares in Global Aerospace Underwriting Managers, taking its stake to 51 percent.

A subsidiary of Berkshire Hathaway will continue to own 49 percent. Munich Re’s share of the Pool will increase by 5 percent from Jan.1, 2019. Global is the company that manages the Global Aerospace Pool.

Nick Brown, Global’s group CEO, commented, “We are fortunate in having the backing of two such strong and committed shareholders. 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.”

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