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Chinese Online Insurer Shouhui considers Hong Kong IPO in 2024
Founded in 2015 in Shenzhen, Shouhui Tech offers full service in...
Sompo International appoints Chiew as Head of Crisis Management, Commercial P&C Insurance, APAC
Pei Ru Chiew, head,Crisis Management, Commercial P&C Insurance...
UK lowers Covid-19 alert level to ‘epidemic’ from ‘exponential’
“There has been a steady decrease in cases we have seen in all four nations, and this continues,” the chief medical officers of England, Wales, Scotland and Northern Ireland said.
“It does not mean that the pandemic is over. The virus is still in general circulation, and localised outbreaks are likely to occur.”
Allianz Global Corporate & Specialty SE realigns key roles in its Board of Management
With effect from July 1, 2020, the number of Chief Regions & Markets Officers (CRMO) on the AGCS SE Board of Management will be reduced from three to two: Henning Haagen, current Chief Underwriting Officer Specialty, will assume responsibility for all AGCS regional units outside North America as Chief Regions & Markets Officer Regional Group 1, including Africa, Asia Pacific, Central & Eastern Europe, Mediterranean Region, Regional Unit London, and South America. As Chief Regions & Markets Officer Regional Group 2, Bill Scaldaferri will continue to head the North America Regional Group. Each CRMO will be responsible for approximately half of AGCS’ business in terms of gross premium income of EUR 9.1 billion in 2019.
China finds Coronavirus contamination in seafood and meat in Beijing food market
China has found the trading sections for meat and seafood in Beijing’s wholesale food market to be severely contaminated with the new coronavirus and suspects the area’s low temperature and high humidity may have been contributing factors, officials said on Thursday.
Their preliminary report comes as the country’s capital tackles a resurgence of COVID-19 cases over the past week linked to the massive Xinfadi food center, which houses warehouses and trading halls in an area the size of nearly 160 soccer pitches.
The latest outbreak infected more than 100 people and raised fears of wider contagion in China.
Among the patients who work at the Xinfadi market, most serve at seafood and aquatic product stalls, followed by the beef and mutton section, and patients from the seafood market showed symptoms earlier than others, Wu Zunyou, chief epidemiologist at the Chinese Center for Disease Control and Prevention, said at a daily briefing on Thursday.
Low temperatures favorable to viral survival as well as high humidity might be possible explanations for why seafood markets could be a source of outbreaks based on a preliminary assessment, Wu said, cautioning that further investigation was necessary.
China has halted imports from European salmon suppliers this week amid fears they may be linked to the recent outbreak in Beijing.
Health officials have also warned against eating raw salmon after the virus was discovered on chopping boards used for imported salmon, although the origin of the outbreak is not known.
Low standards of hygiene in wholesale food markets and vulnerabilities in its food supply chain need to be urgently addressed, a leading body of the ruling Communist Party said this week.
Stranded seafarers could stop work, disrupting world trade
With more than 80% of global trade by volume transported by sea, the world’s more than 2 million merchant seafarers play a vital role in keeping countries supplied with everything from raw materials and fuel to food and consumer goods.
Insurers cite Swedish example in bid to dodge Covid-19 biz income payouts
The court case is one of a number of battles across the world, where insurers and clients are fighting over whether coverage extends to measures taken by governments to halt the spread of coronavirus. In France, AXA SA was ordered by a Paris court last month to compensate a restaurant owner for two months of virus-related losses.
Trump administration to propose rolling back protections for big tech
Trump wants to “remove or change” a provision of a law known as Section 230. Under the 1996 Communications Decency Act, Section 230 does not generally hold platforms responsible for what their users post and allows them to moderate the content of their sites as they see fit.The Justice Department plans to make a legislative proposal that Congress would have to pass, according to the Wall Street Journal, which first reported the proposal.
S&P affirms SCOR’s ‘AA-’ rating with ‘stable outlook’, recognises group’s ability to absorb COVID-19 pandemic shock
Denis Kessler, Chairman & Chief Executive Officer of SCOR, commented “We welcome Standard & Poor’s decision to affirm SCOR’s Financial Ratings. This decision demonstrates the Group’s ability to offer its clients an optimum level of security and the resilience of its business model, particularly in the current pandemic crisis. It also clearly reinforces the relevance of our strategy as a global Tier one reinsurer”.
Lloyd’s of London to pay for its ‘shameful’ sins in Atlantic slave trade
“We are sorry for the role played by Lloyd’s market in the 18th and 19th Century slave trade – an appalling and shameful period of English history, as well as our own,” Lloyd’s said.
Japanese researchers confirm coronavirus testing in sewers as possible outbreak warning system
“Sewage testing is used as an early warning system to alert people about (possibly unnoticed) ongoing community transmission,” said Yuki Furuse, a Kyoto University professor who wasn’t directly involved in the study.
IMF sees ‘profound uncertainty’ about global recovery: Gita Gopinath
Gopinath said the economic crisis triggered by the novel coronavirus (Covid-19) pandemic was more global and playing out differently than past crises, with the services sector hit harder than manufacturing in both advanced and emerging market economies, and inflation low across the board.