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BULLETIN: Swiss Life (U.K.) PLC Closes to New Individual Business Jul 03
Standard & Poors, July 2003
Abstract
LONDON (Standard & Poor's) July 18, 2003--Standard & Poor's Ratings Services said today that its ratings and outlook on Swiss Life (U.K.) PLC (BBB/Developing/--), a wholly owned subsidiary of Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt AG (Swiss Life; A-/Negative/--), are unaffected by yesterday's announcement that Swiss Life (U.K.) is to close to new individual business. The decision follows Swiss Life's inability to sell Swiss Life (U.K.). Swiss Life (U.K.) will continue to write group business (including international pooling business) until at least mid-August, at which time a decision will be made over the future of the business. The ratings on Swiss Life (U.K.) reflect the company's good capitalization and satisfactory earnings, although the closure to new individual business places additional pressure...
Companies mentioned in this report are: SL Liverpool PLC,Swiss Life AG
Action: S&P Event
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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