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Investment bank of the year for services to the re/insurance industry

Reactions announces the leading investment bank for the re/insurance industry.

This article appears courtesy of Reactions.
Have a look at all the winners from the 2006 Awards for the best in the reinsurance industry

Reactions Awards 2006:
Investment bank of the year for services to the re/insurance industry

Goldman Sachs

Investment bank of the year for services
to the re/insurance industry
Since the Reactions awards started in 2002, Goldman Sachs has dominated this category. And this year, when more votes than ever have been received, it has consolidated its position even further.

It received 25.6% of the vote this year compared with just over 15% in 2004 and 2003 and just over 20% in 2002.

Its success is not hard to explain. It consistently tops global bookrunner rankings of both debt and equity issuance for the insurance industry. In 2004, for example, it had a 24.8% market share of all equity deals issued by the insurance industry and a 11.9% market share of the debt issued, according to figures from Thomson Financial.

It is the most prolific bookrunner when debt and equity figures are combined. It worked on 42 deals in 2004, raising $11.3bn for the insurance industry. It is also having a good year so far in 2005. It has already helped MetLife, Endurance and Catlin issue equity and Allstate launch a $720m bond.

Goldman Sachs has other strings to its bow apart from capital raising. It is also the leading investment bank in helping insurers and reinsurers securitise their risks. It has already completed deals for The Hartford, FM Global, Scottish Re and Oil Casualty Insurance this year.

Highly commended:

HSBC and Morgan Stanley

HSBC has broken into the top five for the first time this year with 10% of the vote. The bank's profile in the insurance industry has increased a lot in recent years. HSBC Insurance, for example, has grown its operations quickly and has made some high-profile investments in emerging markets such as China and India.

Morgan Stanley has traditionally been Goldman Sachs's biggest rival in this award. It came second in 2003 and 2002. This rivalry is also reflected in the global rankings of bookrunners. For the whole of 2004, it worked on 36 equity and debt issues for the insurance industry, helping raise $10.2bn.

Previous winners of this award

  • 2004 — Goldman Sachs

  • 2003 — Goldman Sachs

  • 2002 — Goldman Sachs

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