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Postretirement Obligations Manageable for European Banks and Insurers May 03 Product Image

Postretirement Obligations Manageable for European Banks and Insurers May 03

  • Published: May 2003
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • Ireland (Republic of)
  • Portugal (Republic of)
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Abstract
As European financial services companies present their results for 2002, some are showing that the sustained equity market decline has led to pension deficits growing significantly or appearing for the first time. As part of its ratings process, Standard & Poor's monitors the effect of postretirement obligations (PRO), on the ratings of European financial services companies. These obligations are principally comprised of pension obligations, but also include other postretirement obligations, such as retiree medical and life insurance liabilities. Although reported net pension liabilities have risen significantly for some companies, Standard & Poor's does not expect to make any rating changes on banks or insurers in the immediate future solely on the back of currently reported pension obligations. Nevertheless, increasing pension...

Companies mentioned in this report are:
- Sweden (Kingdom of) (Unsolicited Ratings)
- France (Republic of) (Unsolicited Ratings)
- United Kingdom (Unsolicited Ratings)
- Italy (Republic of) (Unsolicited Ratings)
- Swiss Confederation (Unsolicited Ratings)
- Ireland (Republic of)
- Netherlands (The) (State of) READ MORE >

- Sweden (Kingdom of) (Unsolicited Ratings)
- France (Republic of) (Unsolicited Ratings)
- United Kingdom (Unsolicited Ratings)
- Italy (Republic of) (Unsolicited Ratings)
- Swiss Confederation (Unsolicited Ratings)
- Ireland (Republic of)
- Netherlands (The) (State of) (Unsolicited Ratings)
- Portugal (Republic of)

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