Industry Sectors - Insurance: Second

Slipping one rung to second place is the J.P. Morgan Cazenove quintet piloted by Duncan Russell.

SECOND TEAM

Duncan Russell & team J.P. Morgan Cazenove

Slipping one rung to second place is the J.P. Morgan Cazenove quintet piloted by Duncan Russell. Telling clients that operational efficiencies and strong first-quarter sales would enable U.K.-based Aviva, the world’s sixth-largest insurance company in terms of annual net premium income, to maintain its dividend, the analysts upgraded the stock from hold to buy in June, at 345.35p. By late December it had climbed 13.8 percent, to 393p, and outdistanced the sector by 11.1 percentage points. “In a complicated sector, Duncan can cut through the noise and point out the key drivers of the shares,” marvels one investor.

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