http://clientportal.ibb.ubs.com/portal/index.jsp?page=eqrschstockrschsector&IndCatCode=INS&MarketCode=GL&MarketCap=X UBS Research: Insurance en Copyright (C) UBS 2009. All rights reserved. eMarketing@ubs.com eMarketing@ubs.com Fri, 3 Jul 2009 Sat, 4 Jul 2009 60 http://clientportal.ibb.ubs.com/portal/index.jsp?page=eqrschrss http://research.ibb.ubs.com:80/images/logo.gif http://www.ubs.com 160 44 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63582|native|public Regions

• Europe Including UK


• Europe Ex. UK


• Global


• Italy


• UBSW EMEA

Sectors

• Italian Insurance, Full-Line


• Italian Insurance, Life


• European Insurance, Full-Line


• European Insurance, Life


• European Ex. UK Insurance, Full-Line


• European Ex. UK Insurance, Life


• Global Insurance, Full-Line


• Global Insurance, Life


• European Financial


• European Insurance


• European Ex. UK Financial


• European Ex. UK Insurance


• Global Financial


• Global Insurance


• Italian Financial


• Italian Insurance

Subjects

• Company Update


• Industry Overview


• Morning Note

]]> Marc Thiele http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63582|native|public|20090703085204 Fri, 3 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76918|native|public Regions

• Global

Sectors

• Global Financial


• Global Insurance

Subjects

• Industry Overview


• Morning Note

]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76918|native|public|20090703070949 Fri, 3 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63547|native|public Regions

• Europe Including UK


• Europe Ex. UK


• Global


• Italy


• UBSW EMEA

Sectors

• Italian Insurance, Full-Line


• Italian Insurance, Life


• European Insurance, Full-Line


• European Insurance, Life


• European Ex. UK Insurance, Full-Line


• European Ex. UK Insurance, Life


• Global Insurance, Full-Line


• Global Insurance, Life


• European Financial


• European Insurance


• European Ex. UK Financial


• European Ex. UK Insurance


• Global Financial


• Global Insurance


• Italian Financial


• Italian Insurance

Companies

• BALN.VX Bâloise


• RUKN.VX Swiss Re


• ZURN.VX Zurich Financial


• ALVG.DE Allianz


• MUVGn.DE Munich Re


• AXAF.PA AXA


• GASI.MI Generali


• AEGN.AS Aegon


• ING.AS ING


• HELN.S Helvetia


• SLHN.VX Swiss Life


• GCO.MC Catalana Occidente


• CNPP.PA CNP


• SLMJ.J Sanlam


• OML.L Old Mutual


• OMLJ.J Old Mutual ZA


• MAP.MC Mapfre


• PRU.N Prudential Financial

Subjects

• Industry Overview


• Market Strategy / Comment


• Morning Note

]]> Marc Thiele BALN.VX RUKN.VX ZURN.VX ALVG.DE MUVGn.DE AXAF.PA GASI.MI AEGN.AS ING.AS HELN.S SLHN.VX GCO.MC CNPP.PA SLMJ.J OML.L OMLJ.J MAP.MC PRU.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63547|native|public|20090703030015 Fri, 3 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76899|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• US Insurance, Property & Casualty


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• US Financial


• US Insurance


• North American Financial


• North American Insurance, Property & Casualty


• North American Insurance

Companies

• RNR.N RenaissanceRe


• PRE.N PartnerRe


• AHL.N Aspen Insurance


• AXS.N Axis Capital


• VR.N Validus Holdings

Subjects

• Industry Overview


• Morning Note

]]> Brian Meredith RNR.N PRE.N AHL.N AXS.N VR.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76899|native|public|20090702140629 Thu, 2 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76896|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Banks


• Global Diversified Financial


• Global Savings & Loan


• Global Investment Services


• Global Insurance, Life


• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• Global Financial Services


• Global Banks, Ex-S&L


• Americas Banks


• Americas Diversified Financial


• Americas Savings & Loan


• Americas Investment Services


• US Banks


• US Diversified Financial


• US Savings & Loan


• US Investment Services


• US Insurance, Life


• US Insurance, Property & Casualty


• Americas Insurance, Life


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• US Financial


• US Insurance


• Americas Financial Services


• US Financial Services


• US Banks, Ex-S&L


• Americas Banks, Ex-S&L


• North American Banks, Ex-S&L


• North American Banks


• North American Financial


• North American Diversified Financial


• North American Financial Services


• North American Insurance, Life


• North American Insurance, Property & Casualty


• North American Insurance


• North American Savings & Loan


• North American Investment Services

]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76896|native|public|20090702134330 Thu, 2 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet10340|native|public Regions

• Global


• Asia Pacific


• Asia Pacific Ex. JP


• Australia


• Australasia

Sectors

• Global Financial


• Global Insurance


• Asian Pacific Financial


• Asian Pacific Insurance


• Asian Pacific Ex. JP Financial


• Asian Pacific Ex. JP Insurance


• Australian Financial


• Australian Insurance


• Australasian Financial


• Australasian Insurance

Companies

• AXA.AX AXA Asia Pacific


• QBE.AX QBE


• SUN.AX Suncorp-Metway


• AMP.AX AMP


• IAG.AX Insurance Aust Group

Subjects

• Industry Overview


• Morning Note

]]> Ross Curran AXA.AX QBE.AX SUN.AX AMP.AX IAG.AX http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet10340|native|public|20090702112134 Thu, 2 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76882|native|public Regions

• Global

Sectors

• Global Financial


• Global Insurance

Subjects

• Industry Overview


• Morning Note

]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76882|native|public|20090702071244 Thu, 2 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76843|native|public Regions

• Global

Sectors

• Global Financial


• Global Insurance

Subjects

• Industry Overview


• Morning Note

]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76843|native|public|20090701103026 Wed, 1 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63468|native|public Regions

• Switzerland


• Europe Including UK


• Europe Ex. UK


• Global


• UBSW EMEA

Sectors

• Swiss Insurance, Life


• European Insurance, Life


• European Ex. UK Insurance, Life


• Global Insurance, Life


• Swiss Financial


• Swiss Insurance


• European Financial


• European Insurance


• European Ex. UK Financial


• European Ex. UK Insurance


• Global Financial


• Global Insurance

Companies

• SLHN.VX Swiss Life

Subjects

• Company Update


• Morning Note

]]> Sheng Bi SLHN.VX http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63468|native|public|20090701064841 Wed, 1 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76835|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• US Insurance, Property & Casualty


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• US Financial


• US Insurance


• North American Financial


• North American Insurance, Property & Casualty


• North American Insurance

Companies

• CB.N Chubb Corp.


• TRV.N Travelers Cos


• ALL.N Allstate Corp.


• XL.N XL Capital


• ACE.N ACE Ltd.


• RNR.N RenaissanceRe


• PRE.N PartnerRe


• WRB.N W. R. Berkley


• AHL.N Aspen Insurance


• ACGL.O Arch Capital Group


• AXS.N Axis Capital


• VR.N Validus Holdings

Subjects

• Industry Overview


• Morning Note

]]> Brian Meredith CB.N TRV.N ALL.N XL.N ACE.N RNR.N PRE.N WRB.N AHL.N ACGL.O AXS.N VR.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76835|native|public|20090701041028 Wed, 1 Jul 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76801|native|public Regions

• Global

Sectors

• Global Financial


• Global Insurance

Subjects

• Industry Overview


• Morning Note

]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76801|native|public|20090630072147 Tue, 30 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63400|native|public Regions

• Germany


• Europe Including UK


• Europe Ex. UK


• Global


• UBSW EMEA

Sectors

• German Insurance, Property & Casualty


• European Insurance, Property & Casualty


• European Ex. UK Insurance, Property & Casualty


• Global Insurance, Property & Casualty


• German Financial


• German Insurance


• European Financial


• European Insurance


• European Ex. UK Financial


• European Ex. UK Insurance


• Global Financial


• Global Insurance

Companies

• MUVGn.DE Munich Re

Subjects

• Company Update


• Morning Note

]]> Marc Thiele MUVGn.DE http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63400|native|public|20090629145722 Mon, 29 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet10308|native|public Regions

• Global


• Asia Pacific


• Asia Pacific Ex. JP


• Australasia

Sectors

• Global Diversified Financial


• Global Financial


• Global Insurance


• Global Financial Services


• Australasian Financial


• Australasian Diversified Financial


• Australasian Financial Services


• Australasian Insurance

Subjects

• Industry Overview


• Market Strategy / Comment


• Morning Note

]]> Chris Williams, CFA http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet10308|native|public|20090629100914 Mon, 29 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63353|native|public Regions

• Germany


• Europe Including UK


• Europe Ex. UK


• Global


• UBSW EMEA

Sectors

• German Insurance, Property & Casualty


• European Insurance, Property & Casualty


• European Ex. UK Insurance, Property & Casualty


• Global Insurance, Property & Casualty


• German Financial


• German Insurance


• European Financial


• European Insurance


• European Ex. UK Financial


• European Ex. UK Insurance


• Global Financial


• Global Insurance

Companies

• ZURN.VX Zurich Financial


• ALVG.DE Allianz


• MUVGn.DE Munich Re

Subjects

• Company Update


• Morning Note

]]> Marc Thiele ZURN.VX ALVG.DE MUVGn.DE http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63353|native|public|20090629081552 Mon, 29 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76743|native|public Regions

• Switzerland


• Germany


• Denmark


• Spain


• Europe Including UK


• Europe Ex. UK


• Finland


• France


• United Kingdom


• Global


• Italy


• Netherlands


• Norway


• Turkey


• South Africa


• EMEA Emerging


• Nordic


• UBSW EMEA


• Emerging Markets


• Asia


• China


• Korea


• Taiwan


• Asia Pacific


• Asia Pacific Ex. JP


• Americas


• Brazil


• Canada


• Latin America


• United States


• North America


• Latin America Emerging


• Australia


• Australasia


• Asia Emerging

Sectors

• Global Banks


• Global Diversified Financial


• Swiss Insurance, Full-Line


• Swiss Insurance, Life


• German Insurance, Full-Line


• German Insurance, Property & Casualty


• Danish Insurance, Property & Casualty


• Spanish Insurance, Full-Line


• Finnish Insurance, Property & Casualty


• French Insurance, Full-Line


• French Insurance, Life


• French Insurance, Property & Casualty


• British Insurance, Full-Line


• British Insurance, Life


• British Insurance, Property & Casualty


• Italian Insurance, Full-Line


• Italian Insurance, Life


• Netherlands Insurance, Life


• Norwegian Insurance, Full-Line


• Turkish Insurance, Full-Line


• South African Insurance, Life


• EMEA Emerging Insurance, Full-Line


• EMEA Emerging Insurance, Life


• European Insurance, Full-Line


• European Insurance, Life


• European Insurance, Property & Casualty


• European Ex. UK Insurance, Full-Line


• European Ex. UK Insurance, Life


• European Ex. UK Insurance, Property & Casualty


• Global Insurance, Full-Line


• Global Insurance, Life


• Global Insurance, Property & Casualty


• Swiss Financial


• Swiss Insurance


• German Financial


• German Insurance


• Danish Financial


• Danish Insurance


• EMEA Emerging Financial


• EMEA Emerging Insurance


• Spanish Financial


• Spanish Insurance


• European Financial


• European Insurance


• European Ex. UK Financial


• European Ex. UK Insurance


• Finnish Financial


• Finnish Insurance


• French Financial


• French Insurance


• British Financial


• British Insurance


• Global Financial


• Global Insurance


• Italian Financial


• Italian Insurance


• Netherlands Financial


• Netherlands Insurance


• Norwegian Financial


• Norwegian Insurance


• Turkish Financial


• Turkish Insurance


• South African Financial


• South African Insurance


• Global Financial Services


• Nordic Financial


• Nordic Insurance, Full-Line


• Nordic Insurance, Property & Casualty


• Nordic Insurance


• Global Banks, Ex-S&L


• Global Emerging Financial


• Global Emerging Insurance, Full-Line


• Global Emerging Insurance, Life


• Global Emerging Insurance


• UBS Key Calls - Europe


• Asian Diversified Financial


• Taiwanese Diversified Financial


• Chinese Insurance, Full-Line


• Chinese Insurance, Life


• Chinese Insurance, Property & Casualty


• Korean Insurance, Property & Casualty


• Taiwanese Insurance, Life


• Asian Insurance, Full-Line


• Asian Insurance, Life


• Asian Insurance, Property & Casualty


• Asian Financial


• Asian Insurance


• Chinese Financial


• Chinese Insurance


• Korean Financial


• Korean Insurance


• Taiwanese Financial


• Taiwanese Insurance


• Asian Financial Services


• Taiwanese Financial Services


• Asian Pacific Banks, Ex-S&L


• Asian Pacific Banks


• Asian Pacific Financial


• Asian Pacific Diversified Financial


• Asian Pacific Financial Services


• Asian Pacific Insurance, Full-Line


• Asian Pacific Insurance, Life


• Asian Pacific Insurance, Property & Casualty


• Asian Pacific Insurance


• Asian Pacific Ex. JP Banks, Ex-S&L


• Asian Pacific Ex. JP Banks


• Asian Pacific Ex. JP Financial


• Asian Pacific Ex. JP Diversified Financial


• Asian Pacific Ex. JP Financial Services


• Asian Pacific Ex. JP Insurance, Full-Line


• Asian Pacific Ex. JP Insurance, Life


• Asian Pacific Ex. JP Insurance, Property & Casualty


• Asian Pacific Ex. JP Insurance


• Brazilian Insurance, Full-Line


• Canadian Insurance, Life


• US Insurance, Full-Line


• US Insurance, Life


• US Insurance, Property & Casualty


• Latin American Insurance, Full-Line


• Americas Insurance, Full-Line


• Americas Insurance, Life


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• Brazilian Financial


• Brazilian Insurance


• Canadian Financial


• Canadian Insurance


• Latin American Financial


• Latin American Insurance


• US Financial


• US Insurance


• North American Financial


• North American Insurance, Full-Line


• North American Insurance, Life


• North American Insurance, Property & Casualty


• North American Insurance


• Latin America Emerging Financial


• Latin America Emerging Insurance, Full-Line


• Latin America Emerging Insurance


• Australian Banks


• Australian Diversified Financial


• Australian Insurance, Full-Line


• Australian Financial


• Australian Insurance


• Australian Financial Services


• Australian Banks, Ex-S&L


• Australasian Banks, Ex-S&L


• Australasian Banks


• Australasian Financial


• Australasian Diversified Financial


• Australasian Financial Services


• Australasian Insurance, Full-Line


• Australasian Insurance


• Asia Emerging Financial


• Asia Emerging Diversified Financial


• Asia Emerging Financial Services


• Asia Emerging Insurance, Life


• Asia Emerging Insurance, Property & Casualty


• Asia Emerging Insurance

Companies

• ACE.N ACE Ltd.

Subjects

• Industry Overview


• Morning Note

]]> Andrew Kligerman ACE.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76743|native|public|20090629071247 Mon, 29 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76721|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Banks


• Global Diversified Financial


• Global Savings & Loan


• Global Investment Services


• Global Insurance, Life


• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• Global Financial Services


• Global Banks, Ex-S&L


• Americas Banks


• Americas Diversified Financial


• Americas Savings & Loan


• Americas Investment Services


• US Banks


• US Diversified Financial


• US Savings & Loan


• US Investment Services


• US Insurance, Life


• US Insurance, Property & Casualty


• Americas Insurance, Life


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• US Financial


• US Insurance


• Americas Financial Services


• US Financial Services


• US Banks, Ex-S&L


• Americas Banks, Ex-S&L


• North American Banks, Ex-S&L


• North American Banks


• North American Financial


• North American Diversified Financial


• North American Financial Services


• North American Insurance, Life


• North American Insurance, Property & Casualty


• North American Insurance


• North American Savings & Loan


• North American Investment Services

]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76721|native|public|20090626134531 Fri, 26 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48114|native|public Regions

• Global


• Asia


• China


• Asia Pacific


• Asia Pacific Ex. JP

Sectors

• Global Automobile Manufacturers


• Global Banks


• Global Heavy Construction


• Global Pharmaceuticals


• Global Electric Utilities


• Global Heavy Machinery


• Global Marine Transport


• Global Mining


• Global Oil Companies, Major


• Global Real Estate


• Global Wireless Communications


• Global Distillers & Brewers


• Global Insurance, Full-Line


• Global Insurance, Life


• Global Basic Materials


• Global Consumer, Cyclical


• Global Energy


• Global Financial


• Global Healthcare


• Global Industrial


• Global Insurance


• Global Mining & Metals


• Global Consumer, Non-Cyclical


• Global Telecommunications


• Global Industrial Transportation


• Global Utilities


• Global Automobiles


• Global Basic Resources


• Global Construction


• Global Food & Beverage


• Global Financial Services


• Global Industrial Goods & Services


• Global Banks, Ex-S&L


• Global Beverage


• Global Industrial Equipment


• Global Transportation Services


• Asian Automobile Manufacturers


• Asian Banks


• Asian Heavy Construction


• Asian Pharmaceuticals


• Asian Electric Utilities


• Asian Heavy Machinery


• Asian Marine Transport


• Asian Mining


• Asian Oil Companies, Major


• Asian Real Estate


• Chinese Automobile Manufacturers


• Chinese Banks


• Chinese Heavy Construction


• Chinese Pharmaceuticals


• Chinese Electric Utilities


• Chinese Heavy Machinery


• Chinese Marine Transport


• Chinese Mining


• Chinese Oil Companies, Major


• Chinese Real Estate


• Chinese Wireless Communications


• Chinese Distillers & Brewers


• Chinese Insurance, Full-Line


• Chinese Insurance, Life


• Asian Wireless Communications


• Asian Distillers & Brewers


• Asian Insurance, Full-Line


• Asian Insurance, Life


• Asian Basic Materials


• Asian Consumer, Cyclical


• Asian Energy


• Asian Financial


• Asian Healthcare


• Asian Industrial


• Asian Insurance


• Asian Mining & Metals


• Asian Consumer, Non-Cyclical


• Asian Telecommunications


• Asian Industrial Transportation


• Asian Utilities


• Chinese Basic Materials


• Chinese Consumer, Cyclical


• Chinese Energy


• Chinese Financial


• Chinese Healthcare


• Chinese Industrial


• Chinese Insurance


• Chinese Mining & Metals


• Chinese Consumer, Non-Cyclical


• Chinese Telecommunications


• Chinese Industrial Transportation


• Chinese Utilities


• Asian Automobiles


• Asian Basic Resources


• Asian Construction


• Asian Food & Beverage


• Asian Financial Services


• Asian Industrial Goods & Services


• Chinese Automobiles


• Chinese Basic Resources


• Chinese Construction


• Chinese Food & Beverage


• Chinese Financial Services


• Chinese Industrial Goods & Services


• Chinese Banks, Ex-S&L


• Chinese Beverage


• Chinese Industrial Equipment


• Chinese Transportation Services


• Asian Banks, Ex-S&L


• Asian Beverage


• Asian Industrial Equipment


• Asian Transportation Services


• Asian Pacific Automobiles


• Asian Pacific Automobile Manufacturers


• Asian Pacific Basic Resources


• Asian Pacific Banks, Ex-S&L


• Asian Pacific Banks


• Asian Pacific Basic Materials


• Asian Pacific Beverage


• Asian Pacific Construction


• Asian Pacific Heavy Construction


• Asian Pacific Wireless Communications


• Asian Pacific Consumer, Cyclical


• Asian Pacific Pharmaceuticals


• Asian Pacific Distillers & Brewers


• Asian Pacific Electric Utilities


• Asian Pacific Energy


• Asian Pacific Financial


• Asian Pacific Food & Beverage


• Asian Pacific Financial Services


• Asian Pacific Healthcare


• Asian Pacific Industrial


• Asian Pacific Industrial Equipment


• Asian Pacific Industrial Goods & Services


• Asian Pacific Insurance, Full-Line


• Asian Pacific Insurance, Life


• Asian Pacific Insurance


• Asian Pacific Heavy Machinery


• Asian Pacific Marine Transport


• Asian Pacific Mining & Metals


• Asian Pacific Mining


• Asian Pacific Consumer, Non-Cyclical


• Asian Pacific Oil Companies, Major


• Asian Pacific Real Estate


• Asian Pacific Telecommunications


• Asian Pacific Industrial Transportation


• Asian Pacific Transportation Services


• Asian Pacific Utilities


• Asian Pacific Ex. JP Automobiles


• Asian Pacific Ex. JP Automobile Manufacturers


• Asian Pacific Ex. JP Basic Resources


• Asian Pacific Ex. JP Banks, Ex-S&L


• Asian Pacific Ex. JP Banks


• Asian Pacific Ex. JP Basic Materials


• Asian Pacific Ex. JP Beverage


• Asian Pacific Ex. JP Construction


• Asian Pacific Ex. JP Heavy Construction


• Asian Pacific Ex. JP Wireless Communications


• Asian Pacific Ex. JP Consumer, Cyclical


• Asian Pacific Ex. JP Pharmaceuticals


• Asian Pacific Ex. JP Distillers & Brewers


• Asian Pacific Ex. JP Electric Utilities


• Asian Pacific Ex. JP Energy


• Asian Pacific Ex. JP Financial


• Asian Pacific Ex. JP Food & Beverage


• Asian Pacific Ex. JP Financial Services


• Asian Pacific Ex. JP Healthcare


• Asian Pacific Ex. JP Industrial


• Asian Pacific Ex. JP Industrial Equipment


• Asian Pacific Ex. JP Industrial Goods & Services


• Asian Pacific Ex. JP Insurance, Full-Line


• Asian Pacific Ex. JP Insurance, Life


• Asian Pacific Ex. JP Insurance


• Asian Pacific Ex. JP Heavy Machinery


• Asian Pacific Ex. JP Marine Transport


• Asian Pacific Ex. JP Mining & Metals


• Asian Pacific Ex. JP Mining


• Asian Pacific Ex. JP Consumer, Non-Cyclical


• Asian Pacific Ex. JP Oil Companies, Major


• Asian Pacific Ex. JP Real Estate


• Asian Pacific Ex. JP Telecommunications


• Asian Pacific Ex. JP Industrial Transportation


• Asian Pacific Ex. JP Transportation Services


• Asian Pacific Ex. JP Utilities

Companies

• 600600.SS Tsingtao Brewery - A


• 600104.SS Shanghai Auto


• 000022.SZ Chiwan Wharf - A


• 600900.SS China Yangtze Power


• 600085.SS BJ Tongrentang


• 600535.SS Tasly


• 600012.SS Anhui Expressway - A


• 000729.SZ Yanjing Brewery


• 000001.SZ Shenzhen Dev. Bank


• 600166.SS Beiqi Foton Motor


• 601398.SS ICBC - A


• 601166.SS Industrial Bank


• 601390.SS CRG - A


• 601866.SS CSCL - A


• 601088.SS CN Shenhua Energy A


• 601991.SS Datang Int'l Power A


• 600027.SS Huadian Power - A


• 000858.SZ Wuliangye


• 600383.SS Gemdale


• 000002.SZ Vanke


• 600050.SS China Unicom - A


• 600970.SS Sinoma International


• 600028.SS Sinopec - A


• 600033.SS Fujian Expressway


• 601872.SS CMES


• 000024.SZ China Merchants Prop


• 600017.SS RZP


• 601898.SS China Coal Energy A


• 601628.SS China Life - A


• 601318.SS Ping An - A

]]> Edmond Huang, CFA 600600.SS 600104.SS 000022.SZ 600900.SS 600085.SS 600535.SS 600012.SS 000729.SZ 000001.SZ 600166.SS 601398.SS 601166.SS 601390.SS 601866.SS 601088.SS 601991.SS 600027.SS 000858.SZ 600383.SS 000002.SZ 600050.SS 600970.SS 600028.SS 600033.SS 601872.SS 000024.SZ 600017.SS 601898.SS 601628.SS 601318.SS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48114|native|public|20090626091557 Fri, 26 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76709|native|public Regions

• Global

Sectors

• Global Financial


• Global Insurance

Subjects

• Industry Overview


• Morning Note

]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez76709|native|public|20090626071206 Fri, 26 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63297|native|public Regions

• Europe Including UK


• Europe Ex. UK


• Global


• Italy


• UBSW EMEA

Sectors

• Italian Insurance, Full-Line


• Italian Insurance, Life


• European Insurance, Full-Line


• European Insurance, Life


• European Ex. UK Insurance, Full-Line


• European Ex. UK Insurance, Life


• Global Insurance, Full-Line


• Global Insurance, Life


• European Financial


• European Insurance


• European Ex. UK Financial


• European Ex. UK Insurance


• Global Financial


• Global Insurance


• Italian Financial


• Italian Insurance

Companies

• BALN.VX Bâloise


• RUKN.VX Swiss Re


• ZURN.VX Zurich Financial


• ALVG.DE Allianz


• MUVGn.DE Munich Re


• AXAF.PA AXA


• GASI.MI Generali


• AEGN.AS Aegon


• ING.AS ING


• HELN.S Helvetia


• SLHN.VX Swiss Life


• GCO.MC Catalana Occidente


• CNPP.PA CNP


• SLMJ.J Sanlam


• OML.L Old Mutual


• OMLJ.J Old Mutual ZA


• MAP.MC Mapfre

Subjects

• Industry Overview


• Market Strategy / Comment


• Morning Note

]]> Marc Thiele BALN.VX RUKN.VX ZURN.VX ALVG.DE MUVGn.DE AXAF.PA GASI.MI AEGN.AS ING.AS HELN.S SLHN.VX GCO.MC CNPP.PA SLMJ.J OML.L OMLJ.J MAP.MC http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer63297|native|public|20090626030022 Fri, 26 Jun 2009 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48090|native|public Regions

• Global


• Emerging Markets


• Asia


• Korea


• Asia Pacific


• Asia Pacific Ex. JP


• Asia Emerging

Sectors

• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• Korean Insurance, Property & Casualty


• Asian Insurance, Property & Casualty


• Asian Financial


• Asian Insurance


• Korean Financial


• Korean Insurance


• Asian Pacific Financial


• Asian Pacific Insurance, Property & Casualty


• Asian Pacific Insurance


• Asian Pacific Ex. JP Financial


• Asian Pacific Ex. JP Insurance, Property & Casualty


• Asian Pacific Ex. JP Insurance


• Asia Emerging Financial


• Asia Emerging Insurance, Property & Casualty


• Asia Emerging Insurance

Companies

• 000810.KS Samsung F&M

Subjects

• Market Strategy / Comment


• Morning Note

]]> SK Shim 000810.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev48090|native|public|20090625192831 Thu, 25 Jun 2009