Zurich to Acquire Beazley in £8B Deal

Zurich has agreed to acquire Beazley in a deal valued at £8bn, continuing a UK stock-market exit for the Lloyd’s of London specialist insurer. Under the agreement in principle, Beazley shareholders would receive up to £13.35 per share, including £13.10 in cash plus a dividend from Zurich of up to 25p for 2025.

The offer represents almost a 60% premium to Beazley’s closing share price on 16 January, the last business day before Zurich’s interest became public. Beazley’s board said it would be minded to recommend the revised offer to shareholders once Zurich completes its review, and the combined businesses are expected to create a global speciality insurer with $15bn of gross written premiums based in the UK.