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A family looks at an area devastated by the March 11 earthquake and tsunami in Kesennuma, Miyagi Prefecture, northeastern Japan, Monday, April 4. (AP Photo/Yomiuri Shimbun, Haruka Takahashi)

Despite the thousands of deaths and huge global financial impact resulting from the March 11 magnitude 9.0 Japanese earthquake - the fifth largest ever recorded worldwide – and subsequent tsunami, the disaster will not have a devastating effect on either the capital of the Japanese insurance industry or the international reinsurance market, according to global professional services company Towers Watson.

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