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Business deals

Japan's Sompo buys US crop insurer as weather risks grow

Deal helps diversify coverage and manage swings from climate change

Soybeans are harvested from an Indiana field last year. The rise in severe weather events has lifted demand for crop insurance while also heightening insurers' risk of high payouts.   © Reuters

TOKYO -- Japanese insurance group Sompo Holdings will acquire a major American provider of crop insurance as demand rises for protection against losses from extreme weather events on a warming planet.

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