Zurich to acquire Beazley

After rejecting a £7.67 billion ($10.3 billion) offer last month, UK specialty insurer Beazley Group has agreed to an improved £8 billion ($11 billion) deal by Zurich.

The offer price represents a premium of 59.8% to Beazley’s closing share price of 820 pence on January 16, 2026, being the last business day prior to the offer period.

The transaction would combine two “highly complementary” businesses and would establish “a leading, global specialty platform” with ~$15 billion of gross written premiums. Zurich will also benefit from Beazley’s Lloyd’s of London presence.