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Home > Finance > UK's Beazley rejects Zurich Insurance's $10 billion takeover bid

UK's Beazley rejects Zurich Insurance's $10 billion takeover bid

Published by Global Banking and Finance Review

Posted on January 22, 2026

2 min read

Last updated: January 22, 2026

UK's Beazley rejects Zurich Insurance's $10 billion takeover bid - Finance news and analysis from Global Banking & Finance Review

Tags:insurance equity Mergers and Acquisitions financial markets investment

Quick Summary

Beazley rejects Zurich's $10 billion bid, citing undervaluation. The rejection affected Beazley shares, and Zurich continues to seek expansion in speciality insurance.

Beazley Dismisses Zurich Insurance's $10 Billion Acquisition Offer

Beazley Rejects Zurich's Offer

Jan 22 (Reuters) - Beazley rejected a 7.67-billion-pound ($10.3 billion) takeover bid from Zurich Insurance on Thursday, citing that it "materially undervalues" the UK speciality insurer and was lower than another proposal it rejected last year.

Impact on Beazley Shares

The rejection sent Beazley shares down about 3% following a rally fuelled by optimism over Zurich's offer of 1,280 pence per share. The bid was at a 56% premium to Beazley's last closing price before the approaches were disclosed on Monday.

Zurich's Strategic Interests

Beazley said Zurich's latest proposal was below the previous proposal of 1,315 pence apiece put forward by the Swiss group last June - also rejected by Beazley.

At the price, a deal for Beazley would have an implied equity value of 8.4 billion pounds, the company added.

Zurich Insurance, Europe's second-largest insurer by market value, did not immediately respond to a Reuters request for comment.

The company has been looking to build out its speciality insurance business, and sees Beazley as a highly complementary fit given its expertise in cyber, marine, aviation and space, and fine art insurance.

($1 = 0.7450 pounds)

(Reporting by Yamini Kalia and Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)

Key Takeaways

•Beazley rejected Zurich's $10 billion takeover bid.
•The offer was deemed to undervalue Beazley.
•Beazley shares fell 3% after the rejection.
•Zurich aims to expand its speciality insurance business.
•Previous higher offer from Zurich was also rejected.

Frequently Asked Questions about UK's Beazley rejects Zurich Insurance's $10 billion takeover bid

1What is a takeover bid?

A takeover bid is an offer to purchase some or all of shareholders' shares in a corporation, often at a premium over the current market price, to gain control of the company.

2What is a premium in finance?

In finance, a premium refers to the amount by which an offer exceeds the current market price of a security, often used in the context of takeover bids.

3What is equity value?

Equity value represents the total value of a company's shares outstanding, calculated by multiplying the share price by the total number of shares issued.

4What is a specialty insurer?

A specialty insurer focuses on providing insurance coverage for specific industries or types of risks, such as cyber, marine, or aviation insurance.