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Mexico to receive $150 million payout from cat bond after quake

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Mexico's finance ministry said that the country will receive a payout of $150 million from a catastrophe bond after the Sep. 7 earthquake met parameters for magnitude, location and depth, Reuters reported. Mexico was hit by two quakes in September. The first quake, which occurred on Sep. 7, struck the country's southern region, while the second on Sep. 19 struck the capital Mexico City.

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