Chinese government calls for cat bonds to tackle climate change

The Chinese government is promoting the issuance of catastrophe bonds and other weather index-linked insurance/reinsurance solutions to help the country address and adapt to climate change, Artemis.bm reports.

The country's National Development and Reform Commission is looking at such offerings to help provide funding during and after major catastrophes. The government believes a risk transfer or reinsurance facility is needed for insurers to take on larger risks, Artemis.bm reported.

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