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Zurich completes £8.1 billion Beazley acquisition and names Terryn CEO
The deal closes on October 2, 2026, and Zurich appoints Kristof Terryn as CEO of the combined Zurich Global Specialty and Beazley unit, subject to regulatory approval.
Zurich Insurance Group has confirmed the completion of its £8.1 billion ($10.9 billion) acquisition of Beazley, with the combined specialty business now claiming to be the world’s largest specialty insurer by gross written premiums, according to Insurance Business.
The company said the announcement, dated October 2, 2026, also confirms Beazley chief executive Adrian Cox is leaving. Zurich did not provide details on the timing of Cox’s departure, and he was not among nine directors who stepped down when the scheme became effective on October 1.
Zurich appointed Kristof Terryn as CEO of Beazley and Zurich Global Specialty, subject to regulatory approval. Terryn was among the five Zurich-nominated directors appointed to Beazley’s board on October 1 and had senior roles at Zurich including CEO North America and, most recently, CEO for Europe, Middle East and Global Head Retail.
In addition, Zurich named Helen Pickford, currently CFO of Zurich UK, as CFO of Beazley and Zurich Global Specialty. Barbara Plucnar Jensen, Beazley’s outgoing group CFO, will remain as a senior advisor through March 2027 to support integration, and Sally Henderson was appointed chief people and sustainability officer, succeeding Liz Ashford who is retiring.