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Financial Institutions: Insurance/Nonlife 2010 Third

Repeat third-teamer Brian Meredith of UBS keeps winning praise from clients for warning them away from Allstate Corp., which he has been doing since August 2007, when he initiated coverage of the Northbrook, Illinois–based property and casualty insurer with a neutral rating.

Brian Meredith

UBS

Repeat third-teamer Brian Meredith of UBS keeps winning praise from clients for warning them away from Allstate Corp., which he has been doing since August 2007, when he initiated coverage of the Northbrook, Illinois–based property and casualty insurer with a neutral rating. Meredith, who works out of Stamford, Connecticut, believed that Allstate would continue to lose market share and suffer eroding margins as it slashed prices in a bid to become more competitive. The stock, which was trading at $49.30 when the analyst launched coverage, had sunk to $27.60 by the end of August 2010. “I trust Brian to give honest opinions,” explains one supporter.

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