Munich Re Increases its Shareholding in Global Aerospace
Global Aerospace, a leading provider of aerospace insurance, announced today that Munich Re has agreed to purchase an additional 11% of the shares in Global Aerospace Underwriting Managers Limited (“Global”). Global is the company that manages the Global Aerospace Pool. Following the acquisition, Munich Re will own 51% and a subsidiary of Berkshire Hathaway Inc. will continue to own 49%. Munich Re’s share of the Pool will increase by 5% from 1st January, 2019.
Nick Brown, Global’s Group Chief Executive Officer 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.”