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ARCHIVE | Criteria | Structured Finance | ABS: Securitization Of Future Emerging Surpluses On Life Insurance Policies Sep 98
Standard & Poors, Sep 1998
Abstract
Life insurance securitization involves the securitization of the surpluses (or profits) expected to emerge over a given number of years from a specified block of policies on the insurance company's books. Life insurance policies are long-term contracts between individuals (policyholders) and an insurance company. The insurance company's obligation is to pay benefits to the policyholder (usually in the form of a lump sum cash payment) should certain specified events such as death, survival (for a predetermined number of years), or retirement occur. Policies generally provide policyholders with either protection benefits (against the risk of death or permanent disablement, for example) or long-term savings benefits (for retirement, for example), or a combination of both. In return for providing these benefits the...
Companies mentioned in this report are: National Provident Life Ltd.,Mutual Securitisation PLC
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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