NU Online News Service, July 30, 5:50 p.m. – Standard & Poor’s, New York, today changed its outlook for the U.S. life insurance industry to negative from stable and put four groups of life insurers on CreditWatch with negative implications.
S&P also downgraded its outlook for six more insurers.
S&P now has announced either a negative CreditWatch or outlook for about one-third of the U.S. life insurers that it rates.
An S&P outlook indicates S&P’s assessment of the direction a company or industry will probably take over the next one to three years.
A CreditWatch action with negative implications means S&P has stepped up its surveillance of the company with an eye to a possible downgrade in the short term.