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International News

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.

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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.

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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.

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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.

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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”.

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