SWX:ZURN.SW 18 November 2025 - 5 March 2026

Beazley reported a 19% drop in annual pre-tax profit to $1.15 billion as cyber underwriting shrank and insurance pricing weakened. Zurich Insurance’s agreed takeover values Beazley at £8.1 billion, with shareholders set to receive 1,335 pence per share including a 25 pence dividend. Zurich raised $5 billion in a share sale to fund the deal. Beazley shares were little changed in early London trading.

Zurich Insurance Group agreed to acquire Beazley for £8.1 billion ($10.8 billion) in cash. Beazley shareholders will receive 1,335 pence per share, including a 25 pence dividend. Zurich raised CHF 3.9 billion ($5.0 billion) through a new share placement to help fund the deal. The transaction is expected to close in the second half of 2026, pending approvals.

Beazley shares traded at 1,290 pence in London, below Zurich’s 1,335 pence-per-share takeover offer. Zurich raised CHF 3.9 billion ($5.0 billion) in an accelerated share sale to help fund the acquisition. Beazley will report full-year results on March 4. The 25 pence interim dividend linked to the deal goes ex-dividend on March 19.