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Towers Watson closes $60M catastrophe bond for N.J. Manufacturers

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Towers Watson Capital Markets Inc. announced it recently arranged a private placement catastrophe bond, Sullivan Re 2013-1, which closed at $60 million. The catastrophe bond was arranged for West Trenton-based New Jersey Manufacturers Insurance Group.

Towers Watson Capital Markets Inc. is a wholly owned subsidiary of global professional services company Towers Watson, which has an office in Parsippany.

According to the announcement, the bond will supplement NJM’s risk management to help ensure the company continues to satisfy its obligations to its policyholders.

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