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Monday, Dec 06, 2021

China encourages insurers to sell cat bonds in Hong Kong

China encourages insurers to sell cat bonds in Hong Kong

The China Banking and Insurance Regulatory Commission is now encouraging mainland property and casualty insurers and reinsurers to establish special-purpose entities in Hong Kong and sell catastrophe bonds there to raise funds, Asia Insurance Review reported. The move is expected to help diversify insurers’ losses caused by natural catastrophes such as earthquakes, floods and typhoons.
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