<P><FONT face=黑体 size=5><STRONG>Life Insurance Primer:2007</STRONG></FONT></P>
<P><FONT face=黑体 size=5><STRONG>2007 07.01.10 235页 英文 2.88M</STRONG></FONT></P>
<P><FONT size=4>Equity Research North America Industry Report</FONT></P>
<P><FONT size=4>Life Insurance / Financial Guarantors Team</FONT></P>
<P><FONT size=4></FONT> </P>
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<P><FONT size=4> Contents</FONT></P>
<P><FONT size=4><U>Section 1 Introduction to Life Insurance &amp; Annuities Page</U><BR>A Research Team and Products 4<BR>B Understanding the Life &amp; Annuity Industry 10<BR>C Understanding Life Insurance &amp; Annuity Products 18<BR>D Current Trends in Distribution 45<BR>E How Life Insurers Make Money 50<BR>F Wrap Up and Q&amp;A 56<BR>G Appendix: Statistics, Statutory Accounting, and DAC 58</FONT></P>
<P><FONT size=4><U>Section 2 State of the Life Insurance Industry</U><BR>A Overview 92<BR>B What Worked in 2006 (and Implications for 2007) 96<BR>C Long Term Outlook 104<BR>D Key Industry Drivers for 2007 116<BR>E Key Product Drivers for 2007 135</FONT></P>
<P><FONT size=4><U>Section 3 Valuation and Stock Discussion</U><BR>A Industry Valuation 161<BR>B Overweight Stocks 174<BR>C Equal-weight Stocks 290<BR>D Underweight Stocks 218</FONT></P>



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