http://clientportal.ibb.ubs.com/portal/index.jsp?page=eqrschstockrschsector&IndCatCode=INS&MarketCode=GL&MarketCap=X UBS Research: Insurance en Copyright (C) UBS 2008. All rights reserved. eMarketing@ubs.com eMarketing@ubs.com Mon, 6 Oct 2008 Mon, 6 Oct 2008 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=uer50799|native|public Regions

• Global


• Emerging Markets


• Asia


• Singapore


• Taiwan


• Asia Pacific


• Asia Pacific Ex. JP


• Americas


• United States


• North America


• Asia Emerging

Sectors

• Global Banks


• Global Diversified Financial


• Global Investment Services


• Global Insurance, Life


• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• Global Financial Services


• Global Banks, Ex-S&L


• Asian Banks


• Asian Diversified Financial


• Singaporean Banks


• Taiwanese Banks


• Taiwanese Diversified Financial


• Taiwanese Insurance, Life


• Asian Insurance, Life


• Asian Financial


• Asian Insurance


• Singaporean Financial


• Taiwanese Financial


• Taiwanese Insurance


• Asian Financial Services


• Taiwanese Financial Services


• Taiwanese Banks, Ex-S&L


• Asian Banks, Ex-S&L


• Asian Pacific Banks, Ex-S&L


• Asian Pacific Banks


• Asian Pacific Financial


• Asian Pacific Diversified Financial


• Asian Pacific Financial Services


• Asian Pacific Insurance, Life


• 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, Life


• Asian Pacific Ex. JP Insurance


• Americas Banks


• Americas Investment Services


• US Banks


• US Investment Services


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• US Financial


• Americas Financial Services


• US Financial Services


• North American Banks


• North American Financial


• North American Financial Services


• North American Investment Services


• Pakistani Banks


• Asia Emerging Banks, Ex-S&L


• Asia Emerging Banks


• Asia Emerging Financial


• Asia Emerging Diversified Financial


• Asia Emerging Financial Services


• Asia Emerging Insurance, Life


• Asia Emerging Insurance

Subjects

• Industry Overview


• Morning Note

]]> Preeti Jasrasaria http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50799|native|public|20081006000000 Mon, 6 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50796|native|public Regions

• Global


• Turkey


• EMEA Emerging


• UBSW EMEA


• Emerging Markets

Sectors

• Global Airlines


• Global Automobile Manufacturers


• Global Building Materials


• Global Banks


• Global Food Retailers & Wholesalers


• Global Industrial, Diversified


• Global Advanced Industrial Equipment


• Global Oil Companies, Secondary


• Global Real Estate


• Global Steel


• Turkish Airlines


• Turkish Automobile Manufacturers


• Turkish Building Materials


• Turkish Banks


• Turkish Food Retailers & Wholesalers


• Turkish Industrial, Diversified


• Turkish Advanced Industrial Equipment


• Turkish Oil Companies, Secondary


• Turkish Real Estate


• Turkish Steel


• Turkish Wireless Communications


• Turkish Distillers & Brewers


• Turkish Furnishings & Appliances


• Turkish Insurance, Full-Line


• Turkish Publishing


• EMEA Emerging Airlines


• EMEA Emerging Automobile Manufacturers


• EMEA Emerging Building Materials


• EMEA Emerging Banks


• EMEA Emerging Wireless Communications


• EMEA Emerging Distillers & Brewers


• EMEA Emerging Food Retailers & Wholesalers


• EMEA Emerging Furnishings & Appliances


• EMEA Emerging Industrial, Diversified


• EMEA Emerging Insurance, Full-Line


• EMEA Emerging Advanced Industrial Equipment


• EMEA Emerging Oil Companies, Secondary


• EMEA Emerging Publishing


• EMEA Emerging Real Estate


• EMEA Emerging Steel


• Global Wireless Communications


• Global Distillers & Brewers


• Global Furnishings & Appliances


• Global Insurance, Full-Line


• Global Publishing


• EMEA Emerging Basic Materials


• EMEA Emerging Consumer, Cyclical


• EMEA Emerging Energy


• EMEA Emerging Financial


• EMEA Emerging Home Construction & Furnishings


• EMEA Emerging Industrial


• EMEA Emerging Insurance


• EMEA Emerging Mining & Metals


• EMEA Emerging Consumer, Non-Cyclical


• EMEA Emerging Telecommunications


• EMEA Emerging Industrial Transportation


• Global Basic Materials


• Global Consumer, Cyclical


• Global Energy


• Global Financial


• Global Home Construction & Furnishings


• Global Industrial


• Global Insurance


• Global Mining & Metals


• Global Consumer, Non-Cyclical


• Global Telecommunications


• Global Industrial Transportation


• Turkish Basic Materials


• Turkish Consumer, Cyclical


• Turkish Energy


• Turkish Financial


• Turkish Home Construction & Furnishings


• Turkish Industrial


• Turkish Insurance


• Turkish Mining & Metals


• Turkish Consumer, Non-Cyclical


• Turkish Telecommunications


• Turkish Industrial Transportation


• EMEA Emerging Automobiles


• EMEA Emerging Basic Resources


• EMEA Emerging Cyclical Goods & Services


• EMEA Emerging Construction


• EMEA Emerging Food & Beverage


• EMEA Emerging Financial Services


• EMEA Emerging Industrial Goods & Services


• EMEA Emerging Media


• EMEA Emerging Non-Cyclical Goods & Services


• Global Automobiles


• Global Basic Resources


• Global Cyclical Goods & Services


• Global Construction


• Global Food & Beverage


• Global Financial Services


• Global Industrial Goods & Services


• Global Media


• Global Non-Cyclical Goods & Services


• Turkish Automobiles


• Turkish Basic Resources


• Turkish Cyclical Goods & Services


• Turkish Construction


• Turkish Food & Beverage


• Turkish Financial Services


• Turkish Industrial Goods & Services


• Turkish Media


• Turkish Non-Cyclical Goods & Services


• Turkish Banks, Ex-S&L


• Turkish Beverage


• Turkish Transportation Services


• EMEA Emerging Banks, Ex-S&L


• EMEA Emerging Beverage


• EMEA Emerging Transportation Services


• Global Banks, Ex-S&L


• Global Beverage


• Global Transportation Services


• Global Emerging Airlines


• Global Emerging Automobiles


• Global Emerging Automobile Manufacturers


• Global Emerging Basic Resources


• Global Emerging Banks, Ex-S&L


• Global Emerging Building Materials


• Global Emerging Banks


• Global Emerging Basic Materials


• Global Emerging Beverage


• Global Emerging Cyclical Goods & Services


• Global Emerging Construction


• Global Emerging Wireless Communications


• Global Emerging Consumer, Cyclical


• Global Emerging Distillers & Brewers


• Global Emerging Energy


• Global Emerging Food Retailers & Wholesalers


• Global Emerging Financial


• Global Emerging Food & Beverage


• Global Emerging Furnishings & Appliances


• Global Emerging Financial Services


• Global Emerging Home Construction & Furnishings


• Global Emerging Industrial, Diversified


• Global Emerging Industrial


• Global Emerging Industrial Goods & Services


• Global Emerging Insurance, Full-Line


• Global Emerging Insurance


• Global Emerging Advanced Industrial Equipment


• Global Emerging Media


• Global Emerging Mining & Metals


• Global Emerging Non-Cyclical Goods & Services


• Global Emerging Consumer, Non-Cyclical


• Global Emerging Oil Companies, Secondary


• Global Emerging Publishing


• Global Emerging Real Estate


• Global Emerging Steel


• Global Emerging Telecommunications


• Global Emerging Industrial Transportation


• Global Emerging Transportation Services

Companies

• AKBNK.IS Akbank


• ARCLK.IS Arcelik


• GARAN.IS Garanti


• MIGRS.IS Migros Turk


• FROTO.IS Ford Otosan


• EREGL.IS Erdemir


• AKCNS.IS Akcansa


• KCHOL.IS Koc Holding


• TUPRS.IS Tupras


• THYAO.IS Turkish Airlines


• YKBNK.IS YKB


• ISCTR.IS Is Bank


• SAHOL.IS Sabanci Holding


• SISE.IS Sisecam


• TOASO.IS Tofas Oto Fabrika


• AKGRT.IS Aksigorta


• ENKAI.IS ENKA


• DYHOL.IS Dogan Yayin Holding


• TKC.N Turkcell


• AEFES.IS Anadolu Efes


• VAKBN.IS Vakifbank


• ISGYO.IS Is REIT


• BIMAS.IS BIM


• TAVHL.IS TAV


• ASYAB.IS Bank Asya


• ALBRK.IS Albaraka

]]> Batuhan Ozsahin AKBNK.IS ARCLK.IS GARAN.IS MIGRS.IS FROTO.IS EREGL.IS AKCNS.IS KCHOL.IS TUPRS.IS THYAO.IS YKBNK.IS ISCTR.IS SAHOL.IS SISE.IS TOASO.IS AKGRT.IS ENKAI.IS DYHOL.IS TKC.N AEFES.IS VAKBN.IS ISGYO.IS BIMAS.IS TAVHL.IS ASYAB.IS ALBRK.IS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50796|native|public|20081006000000 Mon, 6 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40959|native|public Regions

• Global


• Emerging Markets


• Asia


• Taiwan


• Asia Pacific


• Asia Pacific Ex. JP


• Asia Emerging

Sectors

• Global Banks


• Global Diversified Financial


• Global Insurance, Life


• Global Financial


• Global Insurance


• Global Financial Services


• Global Banks, Ex-S&L


• Asian Banks


• Asian Diversified Financial


• Taiwanese Banks


• Taiwanese Diversified Financial


• Taiwanese Insurance, Life


• Asian Insurance, Life


• Asian Financial


• Asian Insurance


• Taiwanese Financial


• Taiwanese Insurance


• Asian Financial Services


• Taiwanese Financial Services


• Taiwanese Banks, Ex-S&L


• Asian Banks, Ex-S&L


• Asian Pacific Banks, Ex-S&L


• Asian Pacific Banks


• Asian Pacific Financial


• Asian Pacific Diversified Financial


• Asian Pacific Financial Services


• Asian Pacific Insurance, Life


• 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, Life


• Asian Pacific Ex. JP Insurance


• Asia Emerging Banks, Ex-S&L


• Asia Emerging Banks


• Asia Emerging Financial


• Asia Emerging Diversified Financial


• Asia Emerging Financial Services


• Asia Emerging Insurance, Life


• Asia Emerging Insurance

Subjects

• Change in Recommendation


• Company Update


• Industry Overview


• Morning Note

]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40959|native|public|20081006000000 Mon, 6 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65262|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance

Companies

• CB.N Chubb Corp.


• TRV.N Travelers Cos


• ALL.N Allstate Corp.


• XL.N XL Capital


• ACE.N ACE Ltd.


• PGR.N Progressive


• RNR.N RenaissanceRe


• PRE.N PartnerRe


• WRB.N W. R. Berkley


• ACGL.O Arch Capital Group


• VR.N Validus Holdings

Subjects

• Industry Overview


• Morning Note

]]> Brian Meredith CB.N TRV.N ALL.N XL.N ACE.N PGR.N RNR.N PRE.N WRB.N ACGL.O VR.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65262|native|public|20081006000000 Mon, 6 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65234|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

Subjects

• Company Update


• Morning Note

]]> Brian Meredith RNR.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65234|native|public|20081003000000 Fri, 3 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65221|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Insurance, Full-Line


• Global Financial


• Global Insurance


• US Insurance, Full-Line


• Americas Insurance, Full-Line


• Americas Financial


• Americas Insurance


• US Financial


• US Insurance


• North American Financial


• North American Insurance, Full-Line


• North American Insurance

Companies

• AIG.N AIG

Subjects

• Company Update


• Morning Note

]]> Andrew Kligerman AIG.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65221|native|public|20081003000000 Fri, 3 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65215|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

• ACE.N ACE Ltd.

Subjects

• Company Update


• Morning Note

]]> Brian Meredith ACE.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65215|native|public|20081003000000 Fri, 3 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40933|native|public Regions

• Global


• Emerging Markets


• Asia


• Taiwan


• Asia Pacific


• Asia Pacific Ex. JP


• Asia Emerging

Sectors

• Global Banks


• Global Diversified Financial


• Global Insurance, Life


• Global Financial


• Global Insurance


• Global Financial Services


• Global Banks, Ex-S&L


• Asian Banks


• Asian Diversified Financial


• Taiwanese Banks


• Taiwanese Diversified Financial


• Taiwanese Insurance, Life


• Asian Insurance, Life


• Asian Financial


• Asian Insurance


• Taiwanese Financial


• Taiwanese Insurance


• Asian Financial Services


• Taiwanese Financial Services


• Taiwanese Banks, Ex-S&L


• Asian Banks, Ex-S&L


• Asian Pacific Banks, Ex-S&L


• Asian Pacific Banks


• Asian Pacific Financial


• Asian Pacific Diversified Financial


• Asian Pacific Financial Services


• Asian Pacific Insurance, Life


• 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, Life


• Asian Pacific Ex. JP Insurance


• Asia Emerging Banks, Ex-S&L


• Asia Emerging Banks


• Asia Emerging Financial


• Asia Emerging Diversified Financial


• Asia Emerging Financial Services


• Asia Emerging Insurance, Life


• Asia Emerging Insurance

Companies

• 2882.TW Cathay FHC


• 2891.TW Chinatrust FHC


• 2887.TW Taishin FHC


• 2890.TW SinoPac FHC


• 2892.TW First FHC


• 2884.TW E. Sun FHC


• 2886.TW Mega FHC


• 2888.TW Shin Kong FHC


• 2885.TW Yuanta FHC

Subjects

• Change in Recommendation


• Company Update


• Industry Overview


• Morning Note

]]> Pandora Lee 2882.TW 2891.TW 2887.TW 2890.TW 2892.TW 2884.TW 2886.TW 2888.TW 2885.TW http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40933|native|public|20081003000000 Fri, 3 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50699|native|public Regions

• Global


• Turkey


• EMEA Emerging


• UBSW EMEA


• Emerging Markets

Sectors

• Global Airlines


• Global Automobile Manufacturers


• Global Building Materials


• Global Banks


• Global Food Retailers & Wholesalers


• Global Industrial, Diversified


• Global Advanced Industrial Equipment


• Global Oil Companies, Secondary


• Global Real Estate


• Global Steel


• Turkish Airlines


• Turkish Automobile Manufacturers


• Turkish Building Materials


• Turkish Banks


• Turkish Food Retailers & Wholesalers


• Turkish Industrial, Diversified


• Turkish Advanced Industrial Equipment


• Turkish Oil Companies, Secondary


• Turkish Real Estate


• Turkish Steel


• Turkish Wireless Communications


• Turkish Distillers & Brewers


• Turkish Furnishings & Appliances


• Turkish Insurance, Full-Line


• Turkish Publishing


• EMEA Emerging Airlines


• EMEA Emerging Automobile Manufacturers


• EMEA Emerging Building Materials


• EMEA Emerging Banks


• EMEA Emerging Wireless Communications


• EMEA Emerging Distillers & Brewers


• EMEA Emerging Food Retailers & Wholesalers


• EMEA Emerging Furnishings & Appliances


• EMEA Emerging Industrial, Diversified


• EMEA Emerging Insurance, Full-Line


• EMEA Emerging Advanced Industrial Equipment


• EMEA Emerging Oil Companies, Secondary


• EMEA Emerging Publishing


• EMEA Emerging Real Estate


• EMEA Emerging Steel


• Global Wireless Communications


• Global Distillers & Brewers


• Global Furnishings & Appliances


• Global Insurance, Full-Line


• Global Publishing


• EMEA Emerging Basic Materials


• EMEA Emerging Consumer, Cyclical


• EMEA Emerging Energy


• EMEA Emerging Financial


• EMEA Emerging Home Construction & Furnishings


• EMEA Emerging Industrial


• EMEA Emerging Insurance


• EMEA Emerging Mining & Metals


• EMEA Emerging Consumer, Non-Cyclical


• EMEA Emerging Telecommunications


• EMEA Emerging Industrial Transportation


• Global Basic Materials


• Global Consumer, Cyclical


• Global Energy


• Global Financial


• Global Home Construction & Furnishings


• Global Industrial


• Global Insurance


• Global Mining & Metals


• Global Consumer, Non-Cyclical


• Global Telecommunications


• Global Industrial Transportation


• Turkish Basic Materials


• Turkish Consumer, Cyclical


• Turkish Energy


• Turkish Financial


• Turkish Home Construction & Furnishings


• Turkish Industrial


• Turkish Insurance


• Turkish Mining & Metals


• Turkish Consumer, Non-Cyclical


• Turkish Telecommunications


• Turkish Industrial Transportation


• EMEA Emerging Automobiles


• EMEA Emerging Basic Resources


• EMEA Emerging Cyclical Goods & Services


• EMEA Emerging Construction


• EMEA Emerging Food & Beverage


• EMEA Emerging Financial Services


• EMEA Emerging Industrial Goods & Services


• EMEA Emerging Media


• EMEA Emerging Non-Cyclical Goods & Services


• Global Automobiles


• Global Basic Resources


• Global Cyclical Goods & Services


• Global Construction


• Global Food & Beverage


• Global Financial Services


• Global Industrial Goods & Services


• Global Media


• Global Non-Cyclical Goods & Services


• Turkish Automobiles


• Turkish Basic Resources


• Turkish Cyclical Goods & Services


• Turkish Construction


• Turkish Food & Beverage


• Turkish Financial Services


• Turkish Industrial Goods & Services


• Turkish Media


• Turkish Non-Cyclical Goods & Services


• Turkish Banks, Ex-S&L


• Turkish Beverage


• Turkish Transportation Services


• EMEA Emerging Banks, Ex-S&L


• EMEA Emerging Beverage


• EMEA Emerging Transportation Services


• Global Banks, Ex-S&L


• Global Beverage


• Global Transportation Services


• Global Emerging Airlines


• Global Emerging Automobiles


• Global Emerging Automobile Manufacturers


• Global Emerging Basic Resources


• Global Emerging Banks, Ex-S&L


• Global Emerging Building Materials


• Global Emerging Banks


• Global Emerging Basic Materials


• Global Emerging Beverage


• Global Emerging Cyclical Goods & Services


• Global Emerging Construction


• Global Emerging Wireless Communications


• Global Emerging Consumer, Cyclical


• Global Emerging Distillers & Brewers


• Global Emerging Energy


• Global Emerging Food Retailers & Wholesalers


• Global Emerging Financial


• Global Emerging Food & Beverage


• Global Emerging Furnishings & Appliances


• Global Emerging Financial Services


• Global Emerging Home Construction & Furnishings


• Global Emerging Industrial, Diversified


• Global Emerging Industrial


• Global Emerging Industrial Goods & Services


• Global Emerging Insurance, Full-Line


• Global Emerging Insurance


• Global Emerging Advanced Industrial Equipment


• Global Emerging Media


• Global Emerging Mining & Metals


• Global Emerging Non-Cyclical Goods & Services


• Global Emerging Consumer, Non-Cyclical


• Global Emerging Oil Companies, Secondary


• Global Emerging Publishing


• Global Emerging Real Estate


• Global Emerging Steel


• Global Emerging Telecommunications


• Global Emerging Industrial Transportation


• Global Emerging Transportation Services

Companies

• AKBNK.IS Akbank


• ARCLK.IS Arcelik


• GARAN.IS Garanti


• MIGRS.IS Migros Turk


• FROTO.IS Ford Otosan


• EREGL.IS Erdemir


• AKCNS.IS Akcansa


• KCHOL.IS Koc Holding


• TUPRS.IS Tupras


• THYAO.IS Turkish Airlines


• YKBNK.IS YKB


• ISCTR.IS Is Bank


• SAHOL.IS Sabanci Holding


• SISE.IS Sisecam


• TOASO.IS Tofas Oto Fabrika


• AKGRT.IS Aksigorta


• ENKAI.IS ENKA


• DYHOL.IS Dogan Yayin Holding


• TKC.N Turkcell


• AEFES.IS Anadolu Efes


• VAKBN.IS Vakifbank


• ISGYO.IS Is REIT


• BIMAS.IS BIM


• TAVHL.IS TAV


• ASYAB.IS Bank Asya


• ALBRK.IS Albaraka

]]> Batuhan Ozsahin AKBNK.IS ARCLK.IS GARAN.IS MIGRS.IS FROTO.IS EREGL.IS AKCNS.IS KCHOL.IS TUPRS.IS THYAO.IS YKBNK.IS ISCTR.IS SAHOL.IS SISE.IS TOASO.IS AKGRT.IS ENKAI.IS DYHOL.IS TKC.N AEFES.IS VAKBN.IS ISGYO.IS BIMAS.IS TAVHL.IS ASYAB.IS ALBRK.IS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50699|native|public|20081003000000 Fri, 3 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65188|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Insurance, Life


• Global Financial


• Global Insurance


• US Insurance, Life


• Americas Insurance, Life


• Americas Financial


• Americas Insurance


• US Financial


• US Insurance


• North American Financial


• North American Insurance, Life


• North American Insurance

Companies

• HIG.N The Hartford


• LNC.N Lincoln National


• AIG.N AIG


• AFL.N AFLAC Inc.


• PL.N Protective Life


• NFS.N Nationwide Financial


• MET.N MetLife


• PNX.N Phoenix Companies


• PFG.N Principal Financial


• PRU.N Prudential Financial


• RGAa.N RGA


• CNO.N Conseco Inc.


• GNW.N Genworth Financial


• AMP.N Ameriprise

Subjects

• Industry Overview


• Morning Note

]]> Andrew Kligerman HIG.N LNC.N AIG.N AFL.N PL.N NFS.N MET.N PNX.N PFG.N PRU.N RGAa.N CNO.N GNW.N AMP.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65188|native|public|20081003000000 Fri, 3 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65168|native|public Regions

• Global


• Americas


• United States


• North America

Sectors

• Global Insurance, Life


• Global Financial


• Global Insurance


• US Insurance, Life


• Americas Insurance, Life


• Americas Financial


• Americas Insurance


• US Financial


• US Insurance


• North American Financial


• North American Insurance, Life


• North American Insurance

Companies

• MET.N MetLife

Subjects

• Company Update


• Morning Note

]]> Andrew Kligerman MET.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65168|native|public|20081002000000 Thu, 2 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65139|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

• ACE.N ACE Ltd.

Subjects

• Company Update


• Morning Note

]]> Brian Meredith ACE.N http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65139|native|public|20081002000000 Thu, 2 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65121|native|public Regions

• Global


• Americas


• North America

Sectors

• Global Insurance, Property & Casualty


• Global Financial


• Global Insurance


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• North American Financial


• North American Insurance, Property & Casualty


• North American Insurance

Companies

• CB.N Chubb Corp.


• TRV.N Travelers Cos


• XL.N XL Capital


• ACE.N ACE Ltd.


• WRB.N W. R. Berkley


• ACGL.O Arch Capital Group

Subjects

• Company Update


• Industry Overview


• Morning Note

]]> Brian Meredith CB.N TRV.N XL.N ACE.N WRB.N ACGL.O http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65121|native|public|20081002000000 Thu, 2 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50655|native|public Regions

• Europe Including UK


• Europe Ex. UK


• Global


• Italy


• Poland


• EMEA Emerging


• UBSW EMEA


• Emerging Markets


• CE Europe


• Asia Pacific


• Asia Pacific Ex. JP


• Americas


• United States


• North America


• Australia


• Australasia

Sectors

• Global Banks


• Global Diversified Financial


• EMEA Emerging Banks


• Global Insurance, Property & Casualty


• EMEA Emerging Financial


• Global Financial


• Global Insurance


• Polish Financial


• EMEA Emerging Financial Services


• Global Financial Services


• Polish Financial Services


• EMEA Emerging Banks, Ex-S&L


• Global Banks, Ex-S&L


• Global Emerging Banks, Ex-S&L


• Global Emerging Banks


• Global Emerging Financial


• Global Emerging Financial Services


• CE Europe Banks, Ex-S&L


• CE Europe Financial Services


• CE Europe Financial


• Asian Pacific Banks


• Asian Pacific Financial


• Asian Pacific Diversified Financial


• Asian Pacific Financial Services


• Asian Pacific Insurance


• 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


• Americas Banks


• Americas Diversified Financial


• US Banks


• Americas Insurance, Property & Casualty


• Americas Financial


• Americas Insurance


• US Financial


• Americas Financial Services


• North American Banks


• North American Financial


• North American Insurance, Property & Casualty


• North American Insurance


• Australian Banks


• Australian Diversified Financial


• Australian Financial


• Australian Insurance


• Australian Financial Services


• Australasian Banks


• Australasian Financial


• Australasian Diversified Financial


• Australasian Financial Services


• Australasian Insurance

Subjects

• Company Update


• Industry Overview


• Market Strategy / Comment


• Morning Note

]]> Preeti Jasrasaria http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50655|native|public|20081002000000 Thu, 2 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50647|native|public Regions

• Global


• Turkey


• EMEA Emerging


• UBSW EMEA


• Emerging Markets

Sectors

• Global Airlines


• Global Automobile Manufacturers


• Global Building Materials


• Global Banks


• Global Food Retailers & Wholesalers


• Global Industrial, Diversified


• Global Advanced Industrial Equipment


• Global Oil Companies, Secondary


• Global Real Estate


• Global Steel


• Turkish Airlines


• Turkish Automobile Manufacturers


• Turkish Building Materials


• Turkish Banks


• Turkish Food Retailers & Wholesalers


• Turkish Industrial, Diversified


• Turkish Advanced Industrial Equipment


• Turkish Oil Companies, Secondary


• Turkish Real Estate


• Turkish Steel


• Turkish Wireless Communications


• Turkish Distillers & Brewers


• Turkish Furnishings & Appliances


• Turkish Insurance, Full-Line


• Turkish Publishing


• EMEA Emerging Airlines


• EMEA Emerging Automobile Manufacturers


• EMEA Emerging Building Materials


• EMEA Emerging Banks


• EMEA Emerging Wireless Communications


• EMEA Emerging Distillers & Brewers


• EMEA Emerging Food Retailers & Wholesalers


• EMEA Emerging Furnishings & Appliances


• EMEA Emerging Industrial, Diversified


• EMEA Emerging Insurance, Full-Line


• EMEA Emerging Advanced Industrial Equipment


• EMEA Emerging Oil Companies, Secondary


• EMEA Emerging Publishing


• EMEA Emerging Real Estate


• EMEA Emerging Steel


• Global Wireless Communications


• Global Distillers & Brewers


• Global Furnishings & Appliances


• Global Insurance, Full-Line


• Global Publishing


• EMEA Emerging Basic Materials


• EMEA Emerging Consumer, Cyclical


• EMEA Emerging Energy


• EMEA Emerging Financial


• EMEA Emerging Home Construction & Furnishings


• EMEA Emerging Industrial


• EMEA Emerging Insurance


• EMEA Emerging Mining & Metals


• EMEA Emerging Consumer, Non-Cyclical


• EMEA Emerging Telecommunications


• EMEA Emerging Industrial Transportation


• Global Basic Materials


• Global Consumer, Cyclical


• Global Energy


• Global Financial


• Global Home Construction & Furnishings


• Global Industrial


• Global Insurance


• Global Mining & Metals


• Global Consumer, Non-Cyclical


• Global Telecommunications


• Global Industrial Transportation


• Turkish Basic Materials


• Turkish Consumer, Cyclical


• Turkish Energy


• Turkish Financial


• Turkish Home Construction & Furnishings


• Turkish Industrial


• Turkish Insurance


• Turkish Mining & Metals


• Turkish Consumer, Non-Cyclical


• Turkish Telecommunications


• Turkish Industrial Transportation


• EMEA Emerging Automobiles


• EMEA Emerging Basic Resources


• EMEA Emerging Cyclical Goods & Services


• EMEA Emerging Construction


• EMEA Emerging Food & Beverage


• EMEA Emerging Financial Services


• EMEA Emerging Industrial Goods & Services


• EMEA Emerging Media


• EMEA Emerging Non-Cyclical Goods & Services


• Global Automobiles


• Global Basic Resources


• Global Cyclical Goods & Services


• Global Construction


• Global Food & Beverage


• Global Financial Services


• Global Industrial Goods & Services


• Global Media


• Global Non-Cyclical Goods & Services


• Turkish Automobiles


• Turkish Basic Resources


• Turkish Cyclical Goods & Services


• Turkish Construction


• Turkish Food & Beverage


• Turkish Financial Services


• Turkish Industrial Goods & Services


• Turkish Media


• Turkish Non-Cyclical Goods & Services


• Turkish Banks, Ex-S&L


• Turkish Beverage


• Turkish Transportation Services


• EMEA Emerging Banks, Ex-S&L


• EMEA Emerging Beverage


• EMEA Emerging Transportation Services


• Global Banks, Ex-S&L


• Global Beverage


• Global Transportation Services


• Global Emerging Airlines


• Global Emerging Automobiles


• Global Emerging Automobile Manufacturers


• Global Emerging Basic Resources


• Global Emerging Banks, Ex-S&L


• Global Emerging Building Materials


• Global Emerging Banks


• Global Emerging Basic Materials


• Global Emerging Beverage


• Global Emerging Cyclical Goods & Services


• Global Emerging Construction


• Global Emerging Wireless Communications


• Global Emerging Consumer, Cyclical


• Global Emerging Distillers & Brewers


• Global Emerging Energy


• Global Emerging Food Retailers & Wholesalers


• Global Emerging Financial


• Global Emerging Food & Beverage


• Global Emerging Furnishings & Appliances


• Global Emerging Financial Services


• Global Emerging Home Construction & Furnishings


• Global Emerging Industrial, Diversified


• Global Emerging Industrial


• Global Emerging Industrial Goods & Services


• Global Emerging Insurance, Full-Line


• Global Emerging Insurance


• Global Emerging Advanced Industrial Equipment


• Global Emerging Media


• Global Emerging Mining & Metals


• Global Emerging Non-Cyclical Goods & Services


• Global Emerging Consumer, Non-Cyclical


• Global Emerging Oil Companies, Secondary


• Global Emerging Publishing


• Global Emerging Real Estate


• Global Emerging Steel


• Global Emerging Telecommunications


• Global Emerging Industrial Transportation


• Global Emerging Transportation Services

Companies

• AKBNK.IS Akbank


• ARCLK.IS Arcelik


• GARAN.IS Garanti


• MIGRS.IS Migros Turk


• FROTO.IS Ford Otosan


• EREGL.IS Erdemir


• AKCNS.IS Akcansa


• KCHOL.IS Koc Holding


• TUPRS.IS Tupras


• THYAO.IS Turkish Airlines


• YKBNK.IS YKB


• ISCTR.IS Is Bank


• SAHOL.IS Sabanci Holding


• SISE.IS Sisecam


• TOASO.IS Tofas Oto Fabrika


• AKGRT.IS Aksigorta


• ENKAI.IS ENKA


• DYHOL.IS Dogan Yayin Holding


• TKC.N Turkcell


• AEFES.IS Anadolu Efes


• VAKBN.IS Vakifbank


• ISGYO.IS Is REIT


• BIMAS.IS BIM


• TAVHL.IS TAV


• ASYAB.IS Bank Asya


• ALBRK.IS Albaraka

]]> Batuhan Ozsahin AKBNK.IS ARCLK.IS GARAN.IS MIGRS.IS FROTO.IS EREGL.IS AKCNS.IS KCHOL.IS TUPRS.IS THYAO.IS YKBNK.IS ISCTR.IS SAHOL.IS SISE.IS TOASO.IS AKGRT.IS ENKAI.IS DYHOL.IS TKC.N AEFES.IS VAKBN.IS ISGYO.IS BIMAS.IS TAVHL.IS ASYAB.IS ALBRK.IS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50647|native|public|20081002000000 Thu, 2 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40908|native|public Regions

• Global


• Asia Pacific


• Asia Pacific Ex. JP


• Australia


• Australasia

Sectors

• Global Banks


• Global Financial


• Global Insurance


• Asian Pacific Banks


• Asian Pacific Financial


• Asian Pacific Insurance


• Asian Pacific Ex. JP Banks


• Asian Pacific Ex. JP Financial


• Asian Pacific Ex. JP Insurance


• Australian Banks


• Australian Financial


• Australian Insurance


• Australasian Banks


• Australasian Financial


• Australasian Insurance

Subjects

• Industry Overview


• Market Strategy / Comment


• Morning Note

]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40908|native|public|20081002000000 Thu, 2 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet08085|native|public Regions

• Global


• Asia Pacific


• Asia Pacific Ex. JP


• Australia


• New Zealand


• Australasia

Sectors

• Global Banks


• Global Diversified Financial


• Global Oil Companies, Secondary


• Global Real Estate


• Global Energy


• Global Financial


• Global Industrial


• Global Insurance


• Global Industrial Transportation


• Global Utilities


• Global Financial Services


• Global Industrial Goods & Services


• Global Transportation Services


• Asian Pacific Banks


• Asian Pacific Energy


• Asian Pacific Financial


• Asian Pacific Diversified Financial


• Asian Pacific Financial Services


• Asian Pacific Industrial


• Asian Pacific Industrial Goods & Services


• Asian Pacific Insurance


• Asian Pacific Oil Companies, Secondary


• Asian Pacific Industrial Transportation


• Asian Pacific Transportation Services


• Asian Pacific Utilities


• Asian Pacific Ex. JP Banks


• Asian Pacific Ex. JP Energy


• Asian Pacific Ex. JP Financial


• Asian Pacific Ex. JP Diversified Financial


• Asian Pacific Ex. JP Financial Services


• Asian Pacific Ex. JP Industrial


• Asian Pacific Ex. JP Industrial Goods & Services


• Asian Pacific Ex. JP Insurance


• Asian Pacific Ex. JP Oil Companies, Secondary


• Asian Pacific Ex. JP Industrial Transportation


• Asian Pacific Ex. JP Transportation Services


• Asian Pacific Ex. JP Utilities


• Australian Banks


• Australian Diversified Financial


• Australian Oil Companies, Secondary


• Australian Energy


• Australian Financial


• Australian Industrial


• Australian Insurance


• Australian Industrial Transportation


• Australian Utilities


• Australian Financial Services


• Australian Industrial Goods & Services


• Australian Transportation Services


• Australasian Banks


• Australasian Energy


• Australasian Financial


• Australasian Diversified Financial


• Australasian Financial Services


• Australasian Industrial


• Australasian Industrial Goods & Services


• Australasian Insurance


• Australasian Oil Companies, Secondary


• Australasian Real Estate


• Australasian Industrial Transportation


• Australasian Transportation Services


• Australasian Utilities

Subjects

• Company Update


• Initiating Coverage


• Market Strategy / Comment

]]> David Wilson http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet08085|native|public|20081001000000 Wed, 1 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65122|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

• GLRE.O Greenlight Re

Subjects

• Company Update


• Morning Note

]]> Brian Meredith GLRE.O http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65122|native|public|20081001000000 Wed, 1 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet08078|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

]]> Ralph Butterworth AXA.AX QBE.AX SUN.AX AMP.AX IAG.AX http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uet08078|native|public|20081001000000 Wed, 1 Oct 2008 http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65094|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=uez65094|native|public|20081001000000 Wed, 1 Oct 2008