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The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.
The global economic crisis will hit jobs hard, with unemployment set to reach double digits in many developing and advanced countries, the Organization for Economic Cooperation and Development (OECD) said on Sunday.
The U.S. economy shrank at its fastest pace since 1982 in the fourth quarter and corporate profits plunged a record $120.1 billion, pulled down by falling consumer spending and exports, government data showed on Thursday.