China Reinsurance issues first catastrophe bond in Hong Kong to cover future typhoon damage in bay area

//China Reinsurance issues first catastrophe bond in Hong Kong to cover future typhoon damage in bay area

China Reinsurance issues first catastrophe bond in Hong Kong to cover future typhoon damage in bay area

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.It is the…

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By | 2021-10-01T07:49:59+00:00 October 1st, 2021|Headlines|Comments Off on China Reinsurance issues first catastrophe bond in Hong Kong to cover future typhoon damage in bay area