Update on COVID-19 and implications for North America life insurance market

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      <subfield code="a">The COVID-19 outbreak continues to spread globally and represents a major crisis for the world. The numbers of infections and deaths continue to increase daily. As of April 13, worldwide there were over 1.8 million infections and over 113,000 deaths; in the U.S., there were over 557,000 infections and over 22,000 deaths. Although the spike in deaths is of significant concern for life insurers on their mortality  and possibly morbidity  exposure, arguably the greater risk to them is the impact on the economy. The outbreak has led to a widespread economic downturn as a wide variety of businesses have been forced to shut down and people have lost their jobs. Through April 4, almost 17 million people had filed for unemployment, more than the total jobs lost in the Great Recession of 2008  2009. </subfield>
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