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Cadila scouts partners to ramp up Covid vaccine production by 50 to 70 mn
The Ahmedabad-based firm is looking to hire contract manufacturers for an additional 50 million to 70 million doses of its plasmid DNA vaccine, on top of the 100 million that will come from its own capacity, according to Managing Director Sharvil Patel. He declined to name the companies and the amount Cadila has invested in developing the vaccine.
“We’re just waiting for phase II to push that part of the process,” Patel, the 42-year-old, third-generation head of family-owned Cadila, said
After over 3 months, less than 40k COVID cases reported in single day across country: Govt data
A total of 72,01,070 people have recuperated from COVID-19 so far, pushing the?national recovery rate to 90.62 per cent while the case fatality rate stands at 1.50 per cent.
The number of active cases of coronavirus infection has remained below 7 lakh for five days in a row
There are 6,25,857 active cases of coronavirus infection in the country as on date which comprises 7.88 per cent of the total caseload,the data stated.
AIG to separate Life & Retirement business
”Peter S. Zaffino, AIG’s President & Global Chief Operating Officer, and CEO-elect, stated, “Across AIG, we have made significant progress executing on our strategy to deliver value for our clients, distribution partners, shareholders and other stakeholders. Our businesses can be further strengthened by separating Life & Retirement from AIG, which we believe will enable each entity to achieve a more appropriate and sustainable valuation.”
UK study finds evidence of waning antibody immunity to COVID-19 over time
Global foreign direct investment halved in first six months of 2020 – U.N
“Global FDI flows for the first half of this year went down by close to half… It was more drastic than we expected for the whole year,” James Zhan, director of UNCTAD’s investment and enterprise division, told a news conference.
The flows are expected to decline by 30 to 40% this year and “moderately” in 2021, by 5 to 10%, Zhan said.
AI Kozhikode crash costs re/insurers the highest Indian aviation claims of Rs 660 cr, New India settles full Hull claim of Rs 373.83 cr in a record time
“The payment for aircraft Hull has been made within two working days after receiving necessary documents from reinsurers, setting high standards of service, reliability and always standing with our clients in the times of need and distress. It speaks volumes of our financial strength, cash liquidity and the trust bestowed on us by entire Indian air line industry as we are writing almost all commercial airlines in India,’’ said Atul Sahey, CMD, NIA.
The Air India insurance account is majorly reinsured ,above 95 per cent, in London market with global re/insurers like AIG,AXA Allianz and GIC Re providing the reinsurance capacity.Leading aviation and liability broker Global Insurance Brokers was the broker for the AI cover. .
Air pollution linked with 15% Covid-19 deaths worldwide,shows study
ICICI Pru Life net profit marginally up at Rs 303 crore in Q2FY 2020-21
“On the back of risk averse behaviour of customers, we saw considerable interest for traditional long-term savings products which grew 45 per cent year-on-year for the quarter. Annuity products too registered a robust growth of 73 per cent year-on-year for the quarter. The unit-linked business has shown a strong sequential improvement with Q2-FY2021 nearly doubling over Q1-FY2021,” MD & CEO N S Kannan said.
Delhi nearing third peak, situation worrisome in WB, Kerala: NITI Aayog
“Countries with much better economies, health and infrastructure systems are succumbing to the pandemic, which is a lesson for India. We are fortunate that our journey is in another direction where the cases are showing a downward trend. Recoveries are soaring, and active cases are falling,” he added.
EU warns not enough COVID vaccines for all in Europe until 2022
Given a likely limited supply, the Commission has for months urged EU governments to devise vaccination plans that would prioritise vulnerable and essential groups, such as healthcare workers, the elderly or people with chronic diseases.
But apart from a consensus on inoculating doctors and nurses, “there is no common line on other groups,” the Commission official said at the internal meeting this week.
Arctic headache for ship insurers as routes open up
As climate change opens new sea routes, experienced polar captains like Whatley are coveted for Arctic voyages that can save money on the run between Europe and Asia. But as activity in the Arctic’s waters picks up, insurance companies are grappling with a fundamental question: If something goes wrong, who pays?
So far, it’s unclear that the cost of a major accident would be completely covered by insurance. Damages from a ship spilling oil, hitting an iceberg or becoming marooned can run into the hundreds of millions of dollars.
Epidemic & Pandemic insurance contracts less ambiguous in Asia:Peak Re CEO
“Specifically, when you look at COVID-19, this part of the world is going through its fifth epidemic this century, and this century is only 20 years old. There are much less problems on the wordings side in respect of pandemics in Asia,” Franz-Josef Hahn, chief executive officer, Peak Re said.
Looking ahead to January 1, 2021 renewals,Hahn highlighted that the period represents a chance for reinsurers to “correct pricing” – a move he believes necessary for the development of a “sustainable” marketplace. Otherwise, [the marketplace] is not going to go any further and no capacity will be provided any longer,” .
The poor now linked to banking system, have access to loans: PM
UK Vaccine Taskforce Chair says early COVID-19 vaccines may be imperfect – The Lancet
“However, we do not know that we will ever have a vaccine at all. It is important to guard against complacency and over-optimism”, UK Vaccine Taskforce Chair Kate Bingham wrote in a piece published in The Lancet medical journal.
“The first generation of vaccines is likely to be imperfect, and we should be prepared that they might not prevent infection but rather reduce symptoms, and, even then, might not work for everyone or for long,” she added.
Novartis upbeat as drugmakers see hospitals coping with COVID
ZURICH: Novartis joined rivals Merck, Johnson & Johnson and Roche in predicting the worst of the pandemic may be over for drugmakers, amid signs healthcare systems have learned how to cope with surging infections without shutting down all services. The Swiss...
As demand picks steam in Sep, Indian economy’s animal spirits soar
Economists, including those at the Reserve Bank of India, attributed the recovery to pent-up demand after a strict lockdown imposed in March to contain the coronavirus outbreak hit the consumption of goods and services. While inventory re-stocking will underpin business activity in the coming months, the improvement might still not be enough to prevent Asia’s third-largest economy from contracting in the financial year to March 2021.
Sompo Asia strengthens its insurance pricing platform with Willis Towers Watson
These solutions enable insurers, distributors and managing agents the ability to capture all elements of the pricing process and analysis. This ranges from traditional rating structures through to complex pricing algorithms with embedded models that take advantage of machine learning methods, and implement them directly into the point-of-quote engine of the insurer. To date, the Radar solution is being used by 23 out of 25 of the world’s largest insurance groups.SOMPO, which already uses WTW’s liability calculation tools, will initially implement Emblem and Radar in Singapore, India, Malaysia and Indonesia, before cascading to its business operations in other markets across Asia.