Towers Watson, a professional services company, has acquired the business of WellsCanning, an investment advisory firm specializing in the insurance industry. The principals and consulting staff of WellsCanning have joined Towers Watson’s investment business in New York.

According to Towers, WellsCanning’s expertise in enterprise-based asset allocation solutions for insurance and reinsurance companies, along with the development and implementation of risk-management strategies to protect capital, make it a natural fit for Towers Watson’s investment business. WellsCanning also walks away from the deal offering more.

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