London, Feb 1, 2026, 09:35 GMT — Market closed.
- Beazley wrapped up Friday at 1,133 pence, edging up 0.1%.
- New takeover-period filings on Friday revealed both long and short positions held by major banks.
- Key dates coming up include Zurich’s decision deadline on Feb. 16 and Beazley’s earnings release on March 4.
Shares in Beazley (BEZG.L) closed Friday 0.1% higher at 1,133 pence, bouncing between 1,124 and 1,150 pence during the session as traders processed a fresh round of takeover-period filings. (Investing)
Markets are closed for the weekend, leaving all eyes on Monday’s open and the looming bidder decision. Zurich Insurance Group (ZURN.S) announced it has put forward an improved cash offer of 1,280 pence per share. The company must decide by 5 p.m. on Feb. 16 whether to make a firm offer or walk away; the deadline can only shift with Takeover Panel approval. Zurich warned: “There can be no certainty that any offer will be made,” pitching the bid as a strategic move to leverage Beazley’s footprint at Lloyd’s of London. (Zurich)
Friday’s close puts the stock around 150 pence—nearly 11%—under the proposal price. That gap leaves space for a better offer or a potential walk-away, keeping the trade edgy.
A Form 8.3 disclosure from Societe Generale, required for holders of 1% or more during an offer period, revealed total interests of 2.56% in Beazley shares and cash-settled derivatives as of Jan. 29. The report also showed short positions amounting to 0.56%. Alongside this, the filing detailed a series of modest buys and sells near £11.3 per share. (Investegate)
Barclays disclosed holding and/or controlling 1.20% of Beazley shares, alongside a 0.81% short position, according to an amended Form 8.5 notice from its exempt principal trading unit. The term “exempt principal trader” signals a market-maker role, usually maintaining hedged positions instead of directional bets. (Lloyds Bank Investments)
These disclosures happen regularly, but on a quiet day they can still shake things up. They also shed light on how much of the register is now driven by trading activity instead of long-term holders.
On Jan. 22, Beazley turned down Zurich’s offer of 1,280 pence per share, labeling it a significant undervaluation. The company said it remained “open-minded about all options to deliver value.” Zurich chose not to comment then. (Reuters)
Some analysts expect further price pressure or fresh bids. “You could well see other suitors come out given the quality of the Beazley business,” said Ben Cohen, an RBC Capital Markets analyst, highlighting other London-listed specialty firms like Hiscox and Lancashire Holdings. (S&P Global)
Investors are waiting to see if the bidder makes a move in the coming days or if the Feb. 16 deadline passes quietly. They’ll also keep an eye on anything that could hit insurer earnings — like major catastrophe claims or weaker pricing — since that could quickly alter how much a buyer is willing to offer.
The outcome is clear-cut. Should Zurich back out, the deal premium might vanish quickly, leaving the stock to trade solely on its fundamentals again.
Looking ahead, the Feb. 16 decision deadline comes first. Beazley will then release its full-year 2025 results on March 4. The company’s AGM is set for April 22, with a first-quarter trading update due April 30. (Beazley)
