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Piracy risks undiminished by Somali election, says Willis

Pirates in Somalia

The election of Somalia's first formal government in more than 20 years is unlikely to mitigate risks of piracy in the Gulf of Aden according to a report from Willis.

The broker estimated that piracy is the second largest generator of income in the African state, yielding $200m annually.

Tim Holt, head of intelligence at Special Contingency Risks, part of the

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