Alicia currently offers 10- and 20-year term life products with face amounts up to $50 million. 

 It has the second largest share of annual sales volume for the 10- and 20-year U.S. term life insurance market. 

 Recent mortality experience has been higher than expected.  

Alicia  reinsures all policies that have a face amount in excess of $5 million with a U.S.-based reinsurer. 

Alicia  mostly invests in high-yield U.S. corporate bonds.  

Over the past several years, management and staff turnover has been low. 

Alicia  has followed a consistent corporate strategy for several years.  

External auditors and regulators have not found any major issues with the company's management or processes. 

Alicia 's systems use state-of-the-art technology.

Please classify each of the above using the following risk categories and provide a simple explanation:

Market and economic risk 

 Interest rate risk  

Foreign exchange risk  

Credit risk 

 Liquidity risk  

Systemic risk 

 Demographic risk  

Non-life insurance risk  

Operational risk  

Strategic risk