China Reinsurance issues first catastrophe bond in Hong Kong to cover future typhoon damage in bay area
Published
Oct 01 2021 at 7:49 AM GMT
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- China Reinsurance (Group) issued a US$30 million catastrophe bond in Hong Kong on Friday to pay for future claims resulting from typhoon damage in the Greater Bay Area and other parts of the country, according to a company announcement.
- The bond issued by the state-owned reinsurance giant’s subsidiary, China Property & Casualty Reinsurance, comes just a few days after Chinese financial regulators said they would allow mainland insurance companies to sell catastrophe bonds in Hong Kong.
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- Published Oct 1, 2021 7:49 AM GMT