Zurich Insurance ZURN -6.68%decrease; red down pointing triangle and Beazley BEZ -0.08%decrease; red down pointing triangle reached a deal to merge, ending a period of uncertainty over a deal that values Beazley at around $11 billion.
The two companies had already agreed to terms at the start of last month, in a cash deal that would see the Swiss insurer take over the smaller London-listed cyber insurer for 13.35 pounds a share. That would give the company an enterprise value of around 8.2 billion pounds, or $11.06 billion.
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