Warren Buffett has emerged as one of the biggest investors to be affected by Japan's earthquake and tsunami, with estimated paper losses of $150m from his investments in reinsurers Swiss Re and Munich Re.
The losses are based on calculations by Financial News, after the share prices of the two insurers, listed in Switzerland and Germany, fell to shed just under 5% by midday last Friday. Buffett's Berkshire Hathaway is the biggest shareholder in Munich Re, the world’s largest re-insurer, and fifth largest in Swiss Re, the world’s number two. BlackRock is also a significant stakeholder in the re-insurers, with the third biggest stake in Swiss Re, and second largest in Munich Re. The manager made a paper loss of $108.39m in its stake in the two re-insurers on Friday. Franklin Templeton...
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