Insurance
Home›Insurance›Industry & Deals›Zurich completes £8.1 billion acquisition of Beazley
Zurich completes £8.1 billion acquisition of Beazley
Beazley shareholders received £8.1 billion deal consideration, with shares suspended from the London Stock Exchange and delisting set for Oct. 2.
Zurich Insurance Group has completed its acquisition of Lloyd’s insurer Beazley, effective today, with the purchase priced at £8.1 billion, or $10.7 billion, according to Insurance Journal.
Beazley shares were suspended this morning from the London Stock Exchange, and delisting is planned for Oct. 2. Under the deal, which was structured as a UK scheme of arrangement, shareholders will receive 1,310 pence per share held as of Sept. 30, 2026, with payment expected on Oct. 15, 2026.
As part of the transaction, Beazley announced a new board of directors, including Patrick Manley, Earl Randall Clouser, Helen Pickford, Kristof Terryn, and Claudia Cordioli, while several directors are stepping down. Adrian Cox will remain CEO of Beazley, a role he has held since 2021, the company website says.
Zurich said Beazley’s Lloyd’s of London platform, which includes six syndicates, will expand Zurich’s specialty market access and expertise. The combined business is expected to be approximately US$15 billion in gross written premiums, Zurich said in an investor presentation made in March, Insurance Journal reported.