Warren Buffett reduced its share in Munich Re to 4.6%

Warren Buffett, chairman of the Berkshire Hathaway and National Indemnity Company holdings has reduced its stake in Munich Re by 5.1%. The information has been confirmed by the German reinsurer. This is the second decrease operated by the American magnate in a few months. A first disengagement was done in September 2015 bringing the initial participation from 11.6% to 9.7%.

The decline of this major shareholder has confirmed the gloomy climate that is currently surrounding the reinsurance sector.