Buffett's firm raises stake in Munich Re

Warren Buffett continued to raise his voting stake in Munich Re and could hold 5.224 per cent of the world's biggest reinsurer, including options.

Buffett's Berkshire Hathaway raised the stake it holds directly or indirectly in the reinsurer to 3.278 per cent as of January 22, Munich Re said yesterday.

The stake, which analysts see as probably financial rather than strategic, had previously stood at 3.084 per cent as of January 19.

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.