Cars submerged in floodwaters after heavy rains hit the city of Zhengzhou in China’s central Henan province. Photo: AFP
Cars submerged in floodwaters after heavy rains hit the city of Zhengzhou in China’s central Henan province. Photo: AFP
Insurance

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

  • It comes just days after Chinese regulators gave the green light for mainland insurance companies to issue ‘Act of God’ bonds in Hong Kong
  • The US$30 million bond could pave the way for the city to be a hub for natural disaster fundraising, says head of the Insurance Authority of Hong Kong

Cars submerged in floodwaters after heavy rains hit the city of Zhengzhou in China’s central Henan province. Photo: AFP
Cars submerged in floodwaters after heavy rains hit the city of Zhengzhou in China’s central Henan province. Photo: AFP
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