![\"Beazley](\"https:\/\/www.europesays.com\/ch\/wp-content\/uploads\/2026\/02\/1ec76faa5b340e830d76bd3fcedbf98c.jpeg\")
Beazley takeover price agreed with Zurich ‘just under’ fair value, say analysts Proactive uses images sourced from Shutterstock <\/p>\n Beazley takeover price agreed with Zurich ‘just under’ fair value, say analysts Proactive uses images sourced from Shutterstock <\/p>\n
Beazley PLC<\/a>\u00a0shares jumped over 8% to 1,258p after the board of the Lloyd’s insurer agreed to the terms of a bid from Zurich Insurance<\/a>.<\/p>\n The Swiss giant’s offer values the FTSE 100 group at a sweetened total value of 1,335p per share in cash, including a dividend of up to 25p.<\/p>\n It is up from the 1,280p offered in January and up from the 1,315p reportedly offered behind closed doors last summer.<\/p>\n Beazley’s board states it would be \u2018minded to recommend the offer\u2019 should a firm one be made.<\/p>\n Zurich will now commence its due diligence as it works towards a binding firm offer by a deadline of 16 February.<\/p>\n Broker Panmure Liberum said the revised offer is 2.4 times trailing tangible net asset value, “which is towards the upper end past specialty insurers have been acquired for”.<\/p>\n “Our maths suggested that a price closer to 1,400p would be a fair price and affordable for Zurich. Either way, this is a good offer and classic of this point in the underwriting cycle, when pricing starts coming off peaks.”<\/p>\n Prior to the offer, analysts noted, Beazley was trading on only 1.3x TNAV having put out “confusing messaging”.<\/p>\n Analysts at Peel Hunt said the offer is “just under the 1,340p per share we considered fair”.<\/p>\n Those at AJ Bell said it had seemed “clear from\u00a0previous\u00a0statements that Zurich was determined to own Beazley”, with the 60% bid premium “higher\u00a0than the average bump on UK takeovers in any of the past five years\u00a0and could be sweet enough to win over shareholders”.<\/p>\n \u201cThe downside for the UK stock market is the potential loss of another major financials business, and one that has generated significant returns for investors over the years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Beazley takeover price agreed with Zurich ‘just under’ fair value, say analysts Proactive uses images sourced from Shutterstock…\n","protected":false},"author":2,"featured_media":2214,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[322,1104,2452,51,219],"class_list":{"0":"post-2213","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-zurich","8":"tag-beazley","9":"tag-fair-value","10":"tag-net-asset-value","11":"tag-zurich","12":"tag-zurich-insurance"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/2213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=2213"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/2213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/2214"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=2213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=2213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=2213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}