Cazalet anticipates further spate of life office closures

Life insurance analyst Ned Cazalet predicts a number of companies will join NPI in closing to new business this year. He told Investment Week recent rises in global stock markets will not be enough to prevent other companies being forced to close to new customers. Cazalet said: 'If you compare the FTSE now with its level at the end of last year, when life insurers reported, it is not significantly higher. 'If you look back 13 months, it was at 5,200, so insurers are in a weak position and have much lower equity holdings. This will prevent them from benefiting from any further stock m...