Cazalet report states companies writing with-profits are being hurt
Up to a dozen life companies will close to new business or be taken over within six months, according to industry analyst Ned Cazalet. Royal & SunAlliance and MGM are two groups highlighted as having a future described as 'in the balance' and a target for a player seeking to break into the UK market. Cazalet, who has just published his latest report into the strength of life companies, said falling stock markets are adding new strains to the damaged financial strength of the sector, putting the viability of some into serious doubt. He added: 'Life companies said they would be worried ...
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