Financial Services >> Sector Roundtables >> September 3, 2001
KENNETH S. ZUCKERBERG is a Vice President/Senior Analyst at Dresdner
Kleinwort Wasserstein. Prior to joining the firm in July 2000, he
followed non-life insurance stocks at Keefe, Bruyette & Woods, Inc. and
was responsible for helping expand that firm's presence in insurance
equity research. Mr. Zuckerberg has been actively involved in insurance
industry research since 1998, having previously worked for Moody's
Investors Service, Smith Barney Inc., Insurance Services Office, Inc.
and GEICO Corporation. He is a member of the AIMR, NYSSA and the
Association of Insurance and Financial Analysts. Mr. Zuckerberg holds a
Bachelor of Science degree in Finance from the University of South
Florida, and has completed levels I and II of the Chartered Financial
Analyst program. Profile
JAY A. COHEN is First Vice President, Equity Research, at Merrill Lynch
and covers the property/casualty insurance industry and the insurance
brokers. Prior to joining the firm in 1995, he was associated with
Salomon Brothers and has spent two years at Aetna Casualty & Surety as a
Surety and Fidelity Bond Underwriter. Mr. Cohen graduated from Union
College with a BA in Economics and from Columbia Business School with an
MBA in Finance and Management. He currently serves as an Officer of the
Association of Insurance and Financial Analysts. In each of the past
three years, Mr. Cohen has been included in the Institutional Investor
research analyst poll. He has been recognized by The Wall Street Journal
as an All-Star Analyst in both stock picking and estimate accuracy and
is ranked among the top property/casualty insurance analysts by
Greenwich Associates. Mr. Cohen has had articles published in several
industry journals and has appeared on CNN and CNBC. Profile
CRAIG K. ELKIND, Vice President at Credit Suisse Asset Management, is an
Analyst focusing on US insurance and non-bank financial companies in
large-capitalization US equity portfolios. He joined CSAM from Lazard
Asset Management, where he was a Global Insurance and Financial Services
analyst. Previously, Mr. Elkind was a Partner in Fisher Capital Corp., a
Director of insurance ratings at Standard & Poor's and a Financial
Manager at SCOR US Corporation. He holds a BA in Mathematical Economics
from Colgate University and an MBA in Finance from Columbia Business
School. Mr. Elkind serves on the Board of Directors of the Association
of Insurance and Financial Analysts and is a CFA. Profile
CLIFFORD H. GALLANT is a Vice President at Keefe, Bruyette & Woods,
Inc., a New York-based investment banking and brokerage firm that
specializes in banking, financial institutions, and insurance. He is
responsible for research coverage of property and casualty insurers.
Prior to joining KBW in September 2000, Mr. Gallant was a Vice President
at Conning & Company where he was also a property and casualty insurance
Analyst. Mr. Gallant also served two years working for the International
Department of the Aomori prefectural government in Japan. Mr. Gallant
received his BA from Amherst College in 1993 and was certified as a
Chartered Financial Analyst in 1999. Profile
TWST: Let's start with the approach you take to the non-life insuranceindustry and the segments that you focus on most closely. Jay?
Mr. Cohen: We do all the non-life stocks including the