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A magnitude 8.9 earthquake hit Japan just before 3 p.m. Friday, near the east coast of Honshu, about 230 miles from Tokyo. The quake unleashed a devastating tsunami that reportedly killed hundreds and created significant property losses across some areas of Japan.
LONDON (Reuters)—Eight catastrophe bond transactions totaling over a $1 billion could leave financial investors exposed to insured losses after a huge earthquake struck the northeast coast of Japan on Friday, triggering a 33-foot high tsunami.