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China: Cat bonds being looked at, says regulator

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The China Insurance Regulatory Commission has said that there have been efforts to develop a framework to sell catastrophe-linked bonds, reported IFR Asia.

Market participants said PICC Property & Casualty Co. Ltd. and China Reinsurance Group Corp. had started working on cat bonds years ago and could be the first to issue them.

Swiss Re recently said that cat bonds reported annualized returns of 8.5% in 2013.

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