As the risk management marketplace has expanded — and tools and techniques for managing risk have evolved beyond the limits of traditional insurance and reinsurance markets — capital markets have come to play an important and ever increasing role in risk management.

In response to a growing client need to understand and take full advantage of innovations in risk management, Towers Watson Capital Markets (TWCM) — consisting of Towers Watson Capital Markets Inc. in the US and Towers Watson Capital Markets Ltd. in the UK — was launched in 2008 to offer new services in three broad categories: risk securitization, financial risk transfer transactions, and asset risk management. 

TWCM builds on core Towers Watson capabilities and offerings to provide a full range of capital market services — from risk identification to analysis of possible risk mitigation strategies as well as execution of your company’s chosen approach.

Your organization can rely on TWCM for analysis and advisory services relating to:

  • Risk-linked securities, such as catastrophe bonds and longevity swaps, and working with banks and insurers to facilitate execution of primary and secondary market transactions in these securities
  • Selected retirement-related investment and pension risk transfers
  • Selected corporate hedging programs and hard-to-value assets

In addition, TWCM has the capability to assist your company in the structuring and execution of these transactions.

Contact Us

United States
Insurance-Linked Securities
Ed Hochberg
+1 215 246 1681
Rick Miller
+1 212 309 3861
Michael Popkin
+1 212 309 3475

Our services include:

Catastrophe Bonds
Derivatives and ILWs
Reinsurance Sidecars and Collateralized Reinsurance
Pooled Insurance Notes and Trust Preferred Securities

Why Towers Watson?

Towers Watson advises three-quarters of the world’s leading insurance companies and is one of the world’s largest reinsurance brokers. A leading industry innovator with a long history in convergence markets, Towers Watson pioneered enterprise risk management, the use of captive insurance companies, convergence, and capital markets product development. As a result, our capital markets team maintains extensive relationships with outside providers and rating agencies.

In combination with Towers Watson's unmatched insurance risk expertise and analytical ability, the TWCM team offers all the services necessary — risk consulting, brokerage and origination/distribution — to provide both cedants and investors with the competitive edge needed in a recovering economy.


Towers Watson Capital Markets Inc., based in New York, is a member of FINRA and is regulated in the United States by FINRA. FINRA's Web site can be accessed at http://www.finra.org. Towers Watson Capital Markets Ltd. (FSA Registered Number 473578) of 71 High Holborn, London WC1V 6TP is a company authorized and regulated in the conduct of its business by the Financial Services Authority (FSA) and is entered in the FSA's register. The FSA's Web site, http://www.fsa.gov.uk, contains a wide range of information of specific relevance to U.K. customers and provides access to the FSA register.