Tower Group Announces Strategic Investment in Cinium Financial Services Corporation
Tower Group, Inc. (Tower) announced today that it has invested $7 million in 8.5% convertible senior notes due 2026 of Cinium Financial Services Corporation (Cinium), a privately owned holding company focusing on providing surety insurance and related products and services. This transaction, consistent with Tower's strategic investment strategy, affords Tower with the opportunity to expand into the surety market with an experienced niche writer.
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