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Cochran Caronia Waller Securities LLC is an industry leader in insurance-related equity offerings. We have participated in more than 60 insurance equity or equity-linked offerings since 2001, the majority of the time as co-manager or co-lead manager. Our equity trading desk has been in place since 1999, and the equity trading team has more than 20 years of combined equity trading experience, providing institutional investors with special expertise in an ever-changing marketplace.

Cochran Caronia Waller Securities' equity sales team brings insurance industry experience and access to insurance industry leaders that make it unique among sales teams and valued by insurance investors. The equity sales team frequently leads groups of investors to major industry conferences, most recently taking groups of investors to London and Bermuda. In addition, the equity sales team regularly hosts small group dinners with investors and company management teams to discuss current trends and issues in the industry.

We also host industry conferences that are valued by insurance investors. During the fall of 2004, for example, we co-hosted a conference for the life insurance industry titled "CEO Initiatives in a Challenging Market" and one for the property-casualty industry titled "Managing Change Amidst Global Risk and Uncertainty."

© 2006 Cochran Caronia Waller. All rights reserved.