The 2015 All-Europe Research Team: Insurance, No. 1: Blair Stewart & team
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The 2015 All-Europe Research Team: Insurance, No. 1: Blair Stewart & team

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Bank of America Merrill Lynch’s researchers capture first place for a fifth consecutive year — and for the tenth time overall.

< The 2015 All-Europe Research Team

2015-03-tom-johnson-all-europe-research-team-blair-stewart.jpg

Blair Stewart & team

Bank of America

Merrill Lynch

First-Place Appearances: 10


Total Appearances: 33


Team Debut: 1990


Bank of America Merrill Lynch’s researchers capture first place for a fifth consecutive year — and for the tenth time overall. Crew chief Blair Stewart, 42, splits his time between Edinburgh and London, where his four teammates are based. The analysts retain a loyal following with impressive “quality of research, stock calls, ease of access and enjoyable and informative meetings,” according to one portfolio manager. They report on 33 European insurance names and are especially bullish on British multinational life insurer Prudential, projecting that it will remain an outperformer for the next six years. Over the 12 months through January, the stock leaped 34.1 percent, climbing to 1,620p and beating its regional peers by 19 percentage points. “We continue to believe the company has the necessary ingredients to continue this trend, based on its very strong position in the high-long-term growth markets in Asia and its strong presence in the U.S. retirement market,” Stewart reports. Moreover, Prudential’s “U.K. business also remains a source of stable cash flow,” he notes, and he and his colleagues deem the insurer very well managed. Their target price for Prudential is 1,640p. Clients appreciate the insight into this company. “I voted for Blair because I find his research clear and informative,” a second admirer says. “Most recently, I saw him at the BofA Merrill insurance conference in relation to Prudential and thought the questions he posed to management were interesting. He has made some excellent calls on the sector.”



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