ZURICH has agreed to acquire UK-based Beazley for approximately £8.1 billion ($11 billion), strengthening its position in the cyberinsurance market. The deal awaits final shareholder and regulatory approvals and is expected to complete in the second half of 2026. Beazley shareholders will receive 1,335 pence per share, representing a near 60% premium over the share price in mid-January before the offer period began.
To fund the purchase, Zurich has completed a $5 billion capital raise, with the remainder financed through roughly $3 billion in existing cash and $2.9 billion in new debt facilities. The merger is centred on Beazley’s cyberinsurance and Lloyd’s of London presence, with Zurich estimating the combined entity will generate about $15 billion in annual specialty gross written premiums.
Zurich also expects around $150 million in annual cost savings by 2029 and more than $1 billion in incremental revenue opportunities in the medium term. 4 March 2026.