Article ID: 29f948d86b0eb2b20551d7179d9f522ace42f872bce35c4023715c706dd513e2
Source ID: secondary:businessinsurance.com
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URL: https://www.businessinsurance.com/zurich-wins-over-beazley-with-sweetened-11-billion-bid/
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Zurich wins over Beazley with sweetened $11 billion bid - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Zurich wins over Beazley with sweetened $11 billion bid Cyber Risks , Mergers and Acquisitions , P/C Insurers Switzerland , United Kingdom Beazley , Zurich Feb 4, 2026 (Reuters) — UK specialty insurer Beazley would recommend a sweetened 8 billion pound ($10.97 billion) takeover by Zurich Insurance once the Swiss firm makes a firm offer, it said on Wednesday after rejecting previous multiple bids. Under the improved proposal, Europe’s second-largest insurer, Zurich Insurance, would pay 1,310 pence per share in cash plus permitted dividends of up to 25 pence per share, valuing Beazley at up to 1,335 pence per share. Beazley rejected a 1,280-pence-per-share offer from Zurich in January having also rejected a 1,315-pence offer last June. Beazley’s board said it was minded to recommend the offer should Zurich make a formal offer by February 16 under UK takeover rules. “After announcement it would seem risks should be low — both from any potential competing offer and indeed in terms of threat to closing,” Mark Kelly, CEO of advisory firm MKI Global, said. Buying Beazley would give Zurich a stronger foothold in speciality insurance, covering areas such as cyber, marine, aviation and space, and fine art, while also expanding in Britain at a time when its exposure to the U.S. and the weak dollar have weighed on its performance and shares. “Zurich looks forward to commencing its confirmatory due diligence on Beazley and working with Beazley towards a binding offer announcement,” it said in a joint statement. The takeover would also mark the latest foreign bid for a London-listed company, with relatively lower UK valuations continuing to attract overseas buyers. The Swiss insurer had disclosed a 1.47% stake in Beazley on Monday. 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