open market

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The purpose of engaging in open-market share purchases is to provide the fund's portfolio managers with an additional means to enhance shareholder returns.
The open-market purchases will be for immediate, physical delivery of shares because H-Quotient, like many other companies, has been the target of pernicious short-selling, including naked shorting, a method whereby market makers and others sell stock, but fail to deliver it.
Although in its core "Cat Nat" business CCR reinsures almost all the primary French insurance companies--with hardly any serious competitors--its business position in open-market reinsurance is marginal, both in life and health, in which CCR services a limited number of clients, and in property-casualty, in which it acts merely as a capacity provider in large treaties (reinsurance contracts) led by bigger players.
The Company's ongoing 2001 capital spending program is not being curtailed to make these open-market stock purchases.