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2Q earnings to reveal accuracy of life insurers' COVID-19 estimates

from Insurance News Net

2Q earnings to reveal accuracy of life insurers' COVID-19 estimates Insurance News Net Texas-based insurer Globe Life estimates $2 million in life insurance claims per 10,000 lives lost to the COVID-19 pandemic. Frank Svoboda, chief financial officer for Globe Life, revealed the projection Thursday during the company's second-quarter earnings call. The insurer estimates $45 million of COVID-related life claims for 2020, nearly double its first-quarter projection. These additional claims are expected to cut Globe Life's 2020 earnings per share by $0.33, Svoboda explained. READ MORE

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