Zurich reaches preliminary deal on $10.8bn Beazley buyout offer

Group 1 - Zurich Insurance Group and Beazley have agreed on the key financial terms of a $10.8 billion takeover proposal, involving a cash acquisition of all Beazley shares [1] - The offer includes a cash payment of 1,310p per share and an additional dividend of up to 25p per share for Beazley shareholders [1] - The cash component of the offer represents a 59.8% premium over Beazley's closing price of 820p on January 16, 2026 [2] Group 2 - The proposed acquisition would create a specialty insurance group with approximately $15 billion in gross written premiums [4] - Zurich has acquired around 1.47% of Beazley's shares, totaling approximately 8.87 million shares [5] - The deal is expected to enhance Zurich's specialty insurance ambitions, particularly in fast-growing areas like cyber insurance [2]