{"id":25223,"date":"2026-03-04T12:05:11","date_gmt":"2026-03-04T12:05:11","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/25223\/"},"modified":"2026-03-04T12:05:11","modified_gmt":"2026-03-04T12:05:11","slug":"zurich-agrees-to-buy-beazley-in-11m-deal-the-royal-gazette","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/25223\/","title":{"rendered":"Zurich agrees to buy Beazley in $11m deal – The Royal Gazette"},"content":{"rendered":"

Created: Mar 04, 2026 07:33 AM<\/p>\n

\t\t\t\t\t\t<\/p>\n

Mario Greco, chief executive of Zurich Insurance (File photograph)<\/p>\n

British insurer Beazley, which set up an underwriting platform in Bermuda last year, has agreed to the terms of \u200ban $10.8 billion all-cash takeover bid from Zurich Insurance Group, the \u200ccompanies announced.<\/p>\n

Analysts say the takeover is likely to pave the way for more deals \u200bacross the sector, as competition rises for market share in \u200bthe fast\u2011growing speciality insurance market, Reuters reported.<\/p>\n

Swiss-based Zurich is looking at the acquisition <\/a>as a move to grow its specialty business, including risks such as cyber, marine, aviation, space \u200band fine art.<\/p>\n

Beazley, a specialty insurer and reinsurer, announced last November that it had deployed $500 million in capital to establish a new platform in Bermuda, aiming to drive the group\u2019s expansion, particularly in the insurance-linked securities market.<\/p>\n

The plan for the Beazley Bermuda platform was to generate $400 million in premium by 2030 through four main elements \u2014 captive insurance and reinsurance, alternative risk transfer, an insurance-linked securities (ILS) business focused on cyber risk, and specialty insurance and reinsurance.<\/p>\n

The plans were to build out the platform, relocating some staff to the island and hiring others.<\/p>\n

Mario Greco, chief executive officer of Zurich, said his company was \u201ccommitted to championing underwriting excellence, retaining key talent and maintaining the Beazley brand within the broader Zurich Group\u201d.<\/p>\n

\u201cTogether with Beazley, we will create the world\u2019s \u200bleading specialty underwriter, with around $15 billion of pro forma gross written premiums, exceptional underwriting \u200cexpertise \u2060and data capabilities, and leading access to global distribution,\u201d Mr Greco added.<\/p>\n

In a joint statement, the companies said Zurich had committed to safeguarding the employment and pension rights of Beazley employees, and indicated that the combined specialty business will continue to be organised around lines of business.<\/p>\n

Analysts from investment bank Jeffries said in a note: \u201cBeyond giving finality to the \u2060transaction, the announcement might also be read as a signal that \u200bBeazley\u2019s loss exposures, and likely those of the broader specialty insurance \u200bmarket, remain contained.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Created: Mar 04, 2026 07:33 AM Mario Greco, chief executive of Zurich Insurance (File photograph) British insurer Beazley,…\n","protected":false},"author":2,"featured_media":1061,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[128],"tags":[1340,1339,1341,219],"class_list":["post-25223","post","type-post","status-publish","format-standard","has-post-thumbnail","category-zurich-insurance","tag-acquisition-and-takeover","tag-merger","tag-reinsurance","tag-zurich-insurance"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116170819206254979","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/25223","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=25223"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/25223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/1061"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=25223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=25223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=25223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}