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Cazalet values Standard Life at 16bn

Financial analyst Ned Caza-let has fired another salvo against Standard Life, claiming that, on the basis of Scottish Widows&#39 demutualisation, the company would be worth 16bn.

Using the same methodology as actuarial advisers Tillinghast, which Standard has employed in the past, Cazalet says the average windfall would be 7,000.

The UK&#39s biggest mutual has threatened to sue Cazalet over a recent article in which he he estimated Standard Life policyholders&#39 potential windfalls.

The threat was made two weeks ago but no writ has been served.

Standard Life estimates it is worth 12bn and windfalls would be less than 2,500. The life office argues that Widows is not necessarily the correct basis for any windfalls.

Cazalet says an individual who took out a 60a month endowment pol-icy in 1985 would be in line for 6,000 while someone who has invested 80 a month for the past 20 years would stand toget 31,000.

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