December 2015/3

Willis and Towers Watson confounded widespread expectations that their "merger of equals" would fail last week (11 December) by getting resounding shareholder approval for the transaction.

Integro buys Robertson Taylor; PIB gets PE backing; BPL appoints MDs; Advent launches asset recovery service; Lockton expands marine; Cat bond market holds steady; Marketform boosts M&A practice; Potential sell-offs for BTG; Chairman Guo reappears; Suncorp margin warning; Clear Blue rated A-; Sompo abandons Scor plans; Anthony launches MGA; Novae builds MAP team

Atlanta-headquartered excess and surplus (E&S) lines insurer Maxum Specialty Insurance has been placed up for sale, The Insurance Insider can reveal.

Jonathan Matthews, chief operating officer at Pioneer Underwriting, has resigned, The Insurance Insider can reveal.

Paul Dilley, chief underwriting officer of Canopius' UK specialty division, has left the company, The Insurance Insider has learned.

The London market is awaiting further news on the fallout from the dismissal of Cathedral CEO Peter Scales, after an announcement from Lancashire last week gave no details on a new management team.

The launch of the joint venture reinsurer planned by Axis and Blackstone has been delayed into 2016, sister title Trading Risk reported at the end of last week.

Warren Buffett has displayed his scepticism about the prospects of the reinsurance market after slashing his stake in Munich Re again to take it down to little more than a third of its peak level.

Insurance is a socially useful and a moral business. It is on the side of good and protects those that cannot otherwise afford protection. It allows the weak to stand up to the powerful. It enables trade, promotes resilience to disaster and helps accelerate economic development.

Ryan Specialty and BB&T are among the bidders that remain in the Swett & Crawford sale process alongside 10 private equity firms, The Insurance Insider can reveal.