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Sompo Japan sells US$220M of cat bonds

Sompo JapanNipponkoa Holdings Inc. issued US$220 million of four-yearcatastrophe bonds covering typhoon-related losses in Japan, The Nikkei reported April 5.

The notes would allow the insurer for pay for exceptionallylarge damages caused by typhoons.

Investors in the bonds will lose part of principal ifdamages surpass a limit.