Category:

Health

Latest

COVID-19 claims so far likely to be manageable; reinsurers de-risking:Willis Re Report

Reinsurers have showed that the systemic shock of COVID-19 is manageable so far, but the future strength of the sector depends on the severity of the pandemic’s continuing impact on health and economies. The industry retains sufficient capital buffer for extreme events, but the extent to which reinsurers can withstand continued asset-side volatility and increased claims emergence remains to be seen.

Reinsurers have started to de-risk their balance sheets by holding cash, which will have a significant impact on investment returns. Willis Re currently estimates a 5% hit to the global reinsurance capital base, roughly US$30 billion pre-tax.

read more

‘Virus will be with us for a long time’, WHO chief warns

“Most countries are still in the early stages of their epidemics and some that were affected early in the pandemic are starting to see a resurgence in cases,” Tedros told Geneva journalists in a virtual briefing.

“Make no mistake we have a long way to go. This virus will be with us for a long time,” he said, while noting that epidemics in Western Europe appear to be stabilising or declining.

read more

Caronavirus Pandemic:Over 154 crore students severely impacted by closure of educational institutions across the world

“Particularly for women and girls in countries where limited social protection measures are in place, economic hardships caused by the crisis will have spill-over effects as families consider the financial and opportunity costs of educating their daughters. While many girls will continue with their education once the school gates reopen, others will never return to school,” Stefania Giannini, UNESCO’s Assistant Director-General for Education said.

read more

Global CEOs see U-shaped recession, fear death of some brands: Study

Business leaders in the hospitality and restaurant sectors were the most vulnerable with 41% of executives saying their firms were at risk of not surviving, while 30 per cent in aviation and 19 per cent in wholesale and retail sales feared they may go under, the survey found.

Almost two-thirds of business leaders forecast a negative impact on earnings to continue for more than a year, while a quarter expect their workforce to be down by more than 20 per cent a year from now.

read more

US State files lawsuit against China on coronavirus handling

The lawsuit alleges that during the critical weeks of the initial outbreak, the Chinese authorities deceived the public, suppressed crucial information, arrested whistleblowers, denied human-to-human transmission in the face of mounting evidence, destroyed critical medical research, permitted millions of people to be exposed to the virus, and even hoarded personal protective equipment (PPE, causing a global pandemic that was unnecessary and preventable.

read more