preliminary deal<\/a>, the Swiss insurer will pay Beazley shareholders \u00a313.10 ($24.88) cash per stock and an interim dividend of 25p (47c) for calendar 2025.<\/p>\nThe acquisition is expected to close in the second half of the year, pending regulatory clearance and shareholder approval.<\/p>\n
\u201cThis transaction is a strong step in accelerating Zurich\u2019s specialty strategy,\u201d CEO Mario Greco said.<\/p>\n
\u201cLeveraging Beazley\u2019s established Lloyd\u2019s platform, the combined specialty business will be headquartered in London and will be a powerful platform for long-term growth in specialty lines.\u201d<\/p>\n
He says the combined specialty business will have $US15 billion ($21.3 billion) in gross written premium.<\/p>\n
\u201cTogether with Beazley, we will create the world\u2019s leading specialty underwriter \u2026 [with] exceptional underwriting expertise and data capabilities, and leading access to global distribution.\u201d<\/p>\n
Beazley\u2019s board has recommended shareholders vote for the buyout.<\/p>\n
\u201cCombining with Zurich, at a price which reflects an attractive value for shareholders, will create a \u2026 global leader in specialty underwriting,\u201d chair Clive Bannister said.<\/p>\n
\u201cThe Beazley board is pleased to recommend acceptance of Zurich\u2019s offer.\u201d<\/p>\n
Beazley CEO Adrian Cox says the combined business will be a major player in cyber, a top 10 participant in the US excess and surplus lines market, and the leader at Lloyd\u2019s.<\/p>\n
\u201cOur clients and brokers are navigating an era of accelerating risk, which also represents an outsized growth opportunity for specialty insurance,\u201d he said.<\/p>\n
\u201cBy combining our deep underwriting expertise and broad market reach, we will be able to support them to meet the challenges of an increasingly complex and volatile risk landscape.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Zurich will proceed with its acquisition of Beazley after the pair agreed terms following a preliminary deal last…\n","protected":false},"author":2,"featured_media":16555,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[11516,1647,1665,11515,114,11514,1126,2597,11512,11513,11511,244,4431,272,10584,11517,10284,305,3170,1202,4180,115,11518,51],"class_list":["post-27946","post","type-post","status-publish","format-standard","has-post-thumbnail","category-zurich","tag-advice","tag-articles","tag-australia","tag-brokers","tag-business","tag-commercial","tag-corporate","tag-financial-services","tag-free","tag-industry-updates","tag-information","tag-insurance","tag-insurtech","tag-international","tag-issues","tag-liability","tag-life-insurance","tag-local","tag-media","tag-news","tag-regulatory","tag-small-business","tag-sme","tag-zurich"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116197786295382445","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/27946","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=27946"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/27946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/16555"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=27946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=27946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=27946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}