Michael G. Paisan

Michael G. Paisan is a Managing Director in the equity research department of
Stifel Nicolaus & Company, Inc., responsible for providing fundamental research
coverage of the property/casualty and reinsurance insurance industry for Stifel
Nicolaus (formerly Legg Mason Capital Markets). Prior to that he was at Keefe,
Bruyette & Woods (KBW) where he was primarily responsible for equity coverage of
property/casualty and multi-lines insurance companies. He was also instrumental
in helping launch the insurance research effort at KBW. Prior to KBW, he
performed in similar capacity at Deutsche Bank Securities as an AVP in equity
research. He was voted one of the top stock pickers in the sector as voted in
the “Best on the Street” annual survey by The Wall Street Journal in 2001 and
2006. He has 16 years of experience analyzing the insurance industry in various
capacities, but primarily on the equity research side. He has an MBA degree in
Finance from The University of Hartford.