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Zurich-based reinsurer Swiss Re says its subsidiary Swiss Re Capital Markets has placed a $200 million insurance-linked security with the capital markets that has the unique feature of covering the reinsurance exposures of two carriers.

The multiperil catastrophe-risk vehicle named Combine Re incorporates the risk of reinsured parties Country Mutual Insurance Co. of Bloomington, Ill., and North Carolina Farm Bureau Mutual Insurance Co. Inc. of Raleigh, N.C.

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