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Africa Specialty risks launches Bermuda reinsurer

Mikir Shah, CEO at ASR, commented: “Launching our reinsurer in Bermuda is another big step for Africa Specialty Risks as we continue to build a comprehensive offering of specialty reinsurance products and services for the African markets and beyond

No work, no food: Pandemic deepens global hunger

The World Food Program sounded the alarm further last week in a joint report with the UN’s Food and Agriculture Organization, warning that “conflict, the economic repercussions of Covid-19 and the climate crisis are expected to drive higher levels of acute food insecurity in 23 hunger hot spots over the next four months,” mostly in Africa but also Central America, Afghanistan and North Korea.

Beazley launches life sciences offering in Asia Pacific

Prashansa Daga, Healthcare Underwriter said: “The life sciences sector across Asia has been growing significantly in recent years and has already overtaken EU in terms of size*. Asia Pacific is now the second largest market in terms of size after the US. Covid-19 has also exposed the need for self-reliance amongst different countries in the region as we saw closing of borders, restriction on movement of pharmaceutical ingredients and the global vaccine scramble. The response to Covid-19 has also fuelled a race to create tests, vaccines and treatments. As an industry driven by intrinsic innovation and inelastic demand for patient needs, life sciences is expected to see significant growth in years to come. Our policy provides clear, broad and flexible cover for a range of risks to help this diverse sector to manage its risk exposures and continue to expand and thrive.”

Delta variant now reported in 135 countries, global coronavirus cases could exceed 200 million by next week: WHO

The global number of new cases has been increasing for more than a month, with over 4 million cases reported in the past week – July 26 to August 1, the update said.

“This increasing trend is largely attributed to substantial increases in the Eastern Mediterranean and the Western Pacific Regions which reported 37 percent and 33 percent increases respectively as compared to the previous week, while the South-East Asia Region reported a 9 percent increase,” it said.

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