Janney Montgomery Scott Upgrades Willis Group (WSH) to Buy

Janney Montgomery Scott upgraded Willis Group (NYSE: WSH) from Neutral to Buy.

JMS analyst says, "AIR's statement over the weekend that it expects insured losses from the Japanese earthquake to be in the range of $15B to $35B (excluding the tsunami and demand surge) increases our conviction that this is a market-changing event for the catastrophe reinsurance market. We are increasing our ratings to BUY (from Neutral) on Aon (NYSE: AON) and Willis and lowering our rating on Arthur J. Gallagher (NYSE: AJG) to Neutral (from Buy). Aon and Willis have meaningful global reinsurance brokerage platforms and should benefit from higher prices and potentially higher demand. AJG has no reinsurance broking presence and, in our mind, becomes the least attractive insurance broker as a result."

For more ratings news on Willis Group click here and for the rating history of Willis Group click here.

Shares of Willis Group closed at $39.21 yesterday.

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