Santa Fe, N.M. based Firemark, the 25-year-old research and investment firm, said yesterday that its research arm, Firemark Research, has shut its doors.
Scott Morrissey, vice president Firemark Research, said in an e-mail that while Firemark Research has ended, “Firemark Investments will continue to manage institutional investments.”
In a farewell message thanking patrons, the research operation offered predictions about insurance companies, saying: “Companies once thought untouchable will either be a shell of their former selves or gone altogether. Other companies not given much thought will emerge as industry leaders. And some companies will keep on trucking along as if nothing ever happened. Whatever happens, the insurance industry will continue to provide us with a dearth of investment opportunities, both long and short alike.”
On its Web site, Firemark states its activities include managing funds of our institutional clients, advising on mergers and acquisitions, strategic options and restructuring, and researching the insurance industry.
Firemark Research produced the Firemark Financial Review (FFR), a monthly compendium of fundamental market information on nearly 200 publicly owned U.S. insurance companies and over 250 publicly held insurance companies abroad.
The FFR contained commentary on the insurance industry, a statistical review, features such as industry forums, articles and speeches, company research updates, news and company descriptions.
The announcement from Firemark said that, “After 25 successful years, Firemark Research has shut its doors. This e-mail is to both let you know that the 2008 year-end review is available, and to thank you for your patronage.
“Throughout the lifetime of Firemark Research, we have seen the insurance industry through its many ups and downs. We have told you the facts and offered our opinions. We provided the information you have needed to analyze the industry and make solid, and hopefully lucrative, investment decisions.
We hope you have enjoyed our publications and wish you all the best of luck and success as you navigate these treacherous economic waters. The insurance industry will certainly thrive in the future, though the landscape may be a lot different once we reach the end to the current crisis.”
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.