BUZZ-UK life insurers: down after Barclays cut PTs
** UK life insurers all in the red as Barclays (Swiss: BARC.SW - news) carries out widespread TP cuts; reduces its estimates after UK floods
** Brokerage cuts Phoenix Group Holdings to 766p from 796p, St James Place to 1094p from 1100p, Legal & General to 298p from 302p;
** Cuts Lancashire PT to 419p from 428p as sees continued pricing pressure in all segments putting downward pressure on co's top line
** On L&G, Barclays (LSE: BARC.L - news) expects Solvency 2 capital ratio to be lower than its 220 pct economic capital coverage at H1
** Phoenix (LSE: PHNX.L - news) down c.2 pct, St James falls 0.8 pct, while L&G down 1.1 pct; Lancashire up 0.3 pct (RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)