US EditionZurich Insurance Wins over UK's Beazley with Sweetened $11 Billion Bid ...
The £8 billion deal offers a 60% premium to Beazley's pre-approach share price and aims to create a global specialty insurance platform with $15 billion gross written premiums.
- Swiss insurance giant Zurich agreed in principle to buy Beazley for 8 billion, with the deal still under due diligence and planning for integration.
- Following an earlier rebuffed approach, the Beazley board and advisers said it would be minded to recommend the terms after careful consideration.
- Market reaction has pushed Beazley shares sharply higher over the past month, with the deal valuing Beazley at 13.10 and a 25p dividend, representing an almost 60% premium.
- The transaction would combine the businesses into a leading global specialty platform with around 15 billion US dollars of gross written premiums and leverage Beazley’s Lloyd’s of London presence; Zurich’s workforce includes more than 63,000 employees.
- Given Beazley's specialist cyber and other lines, Zurich will conduct confirmatory due diligence while working toward a binding agreement.
15 Articles
15 Articles
The Beazley Board of Directors advises shareholders to accept the new offer, giving them a luxuriant premium on the share price.
Swiss insurance giant Zurich Insurance Group has reached an agreement in principle for an eight billion pound (9.27 billion euro) takeover of British rival Beazley, reports the German news agency dpa.
Zurich’s £8bn Beazley bid jolts FTSE 100 to a fresh record as GSK rallies, AI fears hit data stocks
London, February 4, 2026, 09:05 GMT Zurich Insurance Group has struck outline terms for an about 8 billion pound ($11 billion) cash takeover of FTSE 100 underwriter Beazley, with Beazley saying it would be minded to recommend the offer if Zurich turns it into a firm bid by Feb. 16. The talks matter now because the UK Takeover Code forces a bidder into a near-term decision: Zurich must either publish a formal offer by a set deadline or step back.…
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