Zurich raises bid on Beazley again and finds agreement

At the fourth attempt he scores. Zurich raises its bid for Beazley and this time gets a green light from the British company. According to the two companies, agreement has been reached between the parties on the key financial terms of a possible £8 billion (€9.3 billion) cash offer.

The offer values Beazley at up to 1,335 pence per share, including permitted dividends. This includes an offer price of 1,310 pence in cash and the payment by Beazley to its shareholders of permitted dividends for the year ending 31 December 2025 up to a maximum of 25 pence prior to completion. The offer price (excluding the permitted dividend) represents a 59.8% premium to Beazley's closing share price of 820 pence on 16 January 2026, the last business day before the offer period.

Beazley's board is inclined to recommend the offer to shareholders because the deal would combine two 'highly complementary businesses' and create a platform with about $15 billion in gross written premiums, based in the UK. Zurich is looking forward to starting due diligence and working with Beazley to arrive at the announcement of a binding offer. The Swiss group is due to announce its final intention to submit a bid by 16 February. The first proposal had been submitted last summer from there a long due diligence two rejected offers and now the deal that will project and strengthen the Swiss company in a key market for the group.