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China regulators agree to accelerate use of catastrophe bonds

artemisORIGINAL PUBLICATION HERE

Two regulatory organisations in China have signed an agreement to establish a group to work on bringing the securitisation of catastrophe insurance risks to the country and to accelerate the adoption of catastrophe bonds for risk transfer needs.

Conversations surrounding the use of catastrophe bonds in China have been ongoing for a number of years, with insurance, reinsurance and financial market organisations in the country all expressing a desire to create a catastrophe bond and insurance-linked securities (ILS) market in the country.

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The Canadians are coming…

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ORIGINAL PUBLICATION HERE

by , Managing News Editor at Insurance Insider

The pattern of long-term institutional investors buying into the (re)insurance sector continued last week, with pension fund investors Canada Pension Plan Investment Board (CPPIB) agreeing to buy into Enstar.

The deal – announced late on Friday (29 May) – sees the pension plan buy 1.9 million voting and non-voting ordinary shares, equivalent to a 9.9 percent stake, from private equity firm First Reserve. CPPIB will also receive a seat on the board.