“Life companies make on average $16 billion of benefit payments every day to beneficiaries and policyholders, and not one was missed through the crisis [financial crisis of 2008]. And even at the heart of the crisis while value was lost, it was temporary lost as the quick recovery shows. And this is where the benefit of having long-term liabilities really benefits our industry. Because short-term fluctuations that everybody experienced…rebounded quite well and short-term blips did not create major impacts with long-term promises.”
