View this article online: https://www.insurancejournal.com/news/international/2011/03/09/189558.htm
Standard & Poor’s Ratings Services has issued a bulletin analyzing last week’s European Court Of Justice ruling that prohibits gender-based discrimination in the calculation of insurance premiums and benefits.
S&P said it is “likely to have a neutral effect on the creditworthiness of European insurers.” However, the rating agency added, “the new regulation, which takes effect on Dec. 21, 2012, will remove an important parameter that many insurers use for assessing underlying risk.”
Credit analyst Gauthier Bollini stated: “The consequences of this are unclear today, but we believe they will probably include higher average non-life and life protection policy costs for women, as well as changes to long-term savings and retirement planning, particularly in the U.K.”
S&P’s report – “European Ruling On Gender Discrimination In Insurance Is Unlikely To Alter The Creditworthiness Of European Insurers – ” is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. If you are not a RatingsDirect subscriber, you may purchase copies of these reports by calling (1) 212-438-7280 or sending an e-mail to research_request@standardandpoors.com. Ratings information can also be found on Standard & Poor’s public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Alternatively, call one of the following Standard & Poor’s numbers: Client Support Europe (44) 20-7176-7176; London Press Office (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow (7) 495-783-4011.
Source: Standard & Poor’s