Typhoon Jebi-related losses hit cat bond pricing
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Pricing of Japan-based Mitsui Sumitomo Insurance Co. Ltd.'s catastrophe bond plummeted 50% due to increasing reinsurance claims related to typhoon Jebi, Artemis.bm reports. The $200-million cat bond provides Mitsui Sumitomo with collateralized reinsurance, covering typhoon-related losses in Japan. Typhoon Jebi caused an estimated $12.5 billion in insured losses.
