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BUZZ-Lloyd's of London insurers: boosted as JPMorgan upgrades

Reuters - UK Focus

** Lloyd's of London insurers Beazley (LSE: BEZ.L - news) and Hiscox boosted as JPMorgan (LSE: JPIU.L - news) names the pair its top picks in the sector and upgrades them to "overweight" from "neutral"

** Hiscox shares rise as much as 3.5 pct as JPM raises TP to 950p from 801p; Beazley shares up 3.2 pct as JPM hikes TP to 308p from 255p

** Broker flags that both cos are net buyers of reinsurance, implying better insulation from softer rates and a lower risk profile

** JPM adds that Hiscox has a strong retail business that can deliver sustainable growth at attractive margins, while Beazley stands out for its capital efficiency and strong track record of returns

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** "Overall, we prefer companies with lower exposure to soft reinsurance pricing; top picks are Beazley and Hiscox," JPM says

** Stocks top gainers on the FT350 INSURANCE Financial Index (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)