Finance
Beazley Shareholders Approve Zurich's $10.9 Billion Cash Takeover
Published by Global Banking & Finance Review®
Posted on April 22, 2026
2 min readLast updated: April 22, 2026
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Beazley shareholders overwhelmingly backed Zurich Insurance’s £8.1 billion (≈ $10.9 billion) all-cash takeover with over 99.9% support. The deal, which would create a $15 billion specialty insurance powerhouse, is expected to close in the second half of 2026 pending court approval.
Beazley Shareholders Approve Zurich’s $10.9 Billion Cash Takeover Deal
Zurich Insurance’s Acquisition of Beazley: Key Details and Implications
Shareholder Approval and Deal Overview
April 22 (Reuters) - London-listed specialty insurer Beazley said on Wednesday shareholders approved Swiss group Zurich Insurance's 8.1 billion pound ($10.94 billion) all-cash takeover, with 99.9% votes in favor at a meeting held earlier in the day.
Strategic Expansion and Recent Investments
Zurich’s Focus on Specialty Insurance
The acquisition, which follows a series of cyber-focused investments by Zurich, will help the Swiss insurer significantly expand its foothold in specialty insurance, encompassing areas such as cyber, marine, aviation, space and fine art.
Additional Acquisitions and Investments
Generali’s Irish P&C Operations
Days after Zurich struck the deal with Beazley, it also agreed to buy Generali's Irish P&C operations for 337 million euros ($394.69 million).
Boxx Insurance and Cowbell Investments
Last year, it acquired Canadian cyber insurtech Boxx Insurance, after backing the company in earlier funding rounds. In 2024, it had invested $60 million in California-based Cowbell.
Financing and Next Steps
Share Sale to Fund Acquisition
Earlier in March, Zurich raised 3.9 billion Swiss francs ($4.98 billion) in a share sale to help finance the Beazley acquisition, after the British insurer accepted an improved offer of up to 1,335 pence per share.
Regulatory Approval and Timeline
The transaction remains subject to court sanction, which Beazley said it expects will take place during the second-half of 2026.
Currency Exchange Rates
($1 = 0.7832 Swiss francs)
($1 = 0.8538 euros)
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Diti Pujara)
Key Takeaways
- •At meetings held April 22, 2026, Beazley shareholders approved the takeover with Court Meeting votes at 99.91% and General Meeting votes at 99.92% in favor, satisfying key conditions. (investing.com)
- •Under the agreement, each Beazley share is valued at 1,335 pence—comprising 1,310 pence in cash plus a 25 pence permitted dividend—totaling approximately $10.9 billion; financing comes from cash, debt and a capital raise. (zurich.com)
- •The combined specialty insurance entity is projected to generate about $15 billion in gross written premiums and deliver $150 million annual cost savings by 2029, along with over $1 billion in incremental annual revenue opportunities. (zurich.com)
References
Frequently Asked Questions about Beazley shareholders approve Zurich's $10.9 billion cash takeover
1What was the value of Zurich Insurance’s takeover of Beazley?
Zurich Insurance’s takeover of Beazley was valued at 8.1 billion pounds, or approximately $10.94 billion in an all-cash deal.
2How did Beazley shareholders vote on the Zurich takeover?
Beazley shareholders overwhelmingly approved the takeover, with 99.9% voting in favor at a special meeting.
3What areas of specialty insurance does the acquisition impact?
The acquisition expands Zurich’s presence in specialty insurance, including cyber, marine, aviation, space, and fine art sectors.
4What additional investments has Zurich made in specialty insurance?
Zurich recently acquired Generali’s Irish P&C operations and Canadian cyber insurtech Boxx Insurance, and invested in Cowbell.
5When is the Zurich-Beazley transaction expected to complete?
The transaction remains subject to court sanction and is expected to complete in the second half of 2026.
