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Strategies & Market Trends : Guidance and Visibility

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To: 2MAR$ who started this subject	9/16/2001 11:58:48 PM
From: juliare	Read Replies (3) of 208838

Just when you thought you'd heard it all... GERMAN OFFICIALS have asked the FBI and the Securities and Exchange Commission to look into whether bin Laden’s associates may have “sold short” stock in a Munich, Germany, company that holds secondary insurance on the World Trade Center. The Italian newspaper Corriere della Serra reported Saturday that the FBI is looking into possible short-selling of the stocks of reinsurance companies in the four trading days before the terrorist attacks on the United States on Tuesday. Reinsurance firms assume risk by providing backup insurance for insurance companies. The stocks of the three reinsurance companies — AXA in France, Munich Re in Germany and Swiss Re in Switzerland — dropped 13 percent to 15 percent in the week before the attack. Analysts suggested at the time that the drops were anomalous — unexplained — since the reinsurance business was healthy and premium payments were on the way up. In fact, before the terrorist attacks, the Financial Times on Tuesday published a positive report on the industry. NBC’s Robert Windrem and Andrea Mitchell contributed to this story.

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