Finance
Zurich insurance raises $5 billion to partly fund beazley takeover
Published by Global Banking & Finance Review®
Posted on March 3, 2026
2 min readLast updated: March 3, 2026
Quick Summary
Zurich Insurance raised 3.9 billion Swiss francs (~$5 billion) via a share placement to partially fund its £8 billion takeover of Beazley, alongside debt and cash reserves. Zurich shares fell sharply, while Beazley’s board has agreed in principle to the terms.
Zurich Insurance Raises $5 Billion to Fund Beazley Acquisition Deal
Zurich Insurance's Strategic Move to Acquire Beazley PLC
Share Sale Details and Capital Increase
March 3 (Reuters) - Zurich Insurance has raised 3.9 billion Swiss francs ($5 billion) in a share sale to partly finance the acquisition of Britain's Beazley PLC <BEZG.L>, it said on Tuesday, sending shares in the group down sharply.
The Swiss insurer has placed 7.1 million new shares with a par value of 0.10 francs per share at 550 francs per new share, it said in a statement, which will increase its share capital from 14.6 million francs to 15.3 million.
Financing the Beazley Acquisition
The net proceeds will be used to partly finance the takeover of the speciality insurer Beazley. The remainder of the consideration will be funded through existing cash and new debt facilities, it added.
Market Reaction and Share Performance
By 0840 GMT, shares in Zurich Insurance were down 5.4% at 543 francs, their biggest daily loss since April and pushing them to the bottom of Switzerland's blue-chip index.
Zurich said the new shares are expected to be listed and admitted to trading on the SIX Swiss Exchange on or around March 5.
Details of the Beazley Takeover Bid
Zurich said on Monday that Beazley shareholders had agreed to the terms of an 8.1 billion pound takeover bid, as the Swiss firm looks to expand its foothold in speciality insurance.
Shareholder Agreement and Offer Structure
Under the deal, Beazley shareholders would receive 1,335 pence per share, comprising 1,310 pence in cash and a dividend of 25 pence.
Additional Information
($1 = 0.7809 Swiss francs)
(Reporting by Linda Pasquini and Madeline Chambers; editing by Christopher Cushing and Thomas Seythal)
Key Takeaways
- •Zurich placed 7.1 million new shares at 550 francs each, raising 3.9 bln CHF, increasing share capital to 15.3 mln CHF to help fund Beazley acquisition
- •The Beazley deal values the firm at about 1 335 pence per share (£8 billion), funded by $3 billion cash, $2.9 billion debt and $5 billion equity raise
- •Zurich shares dropped ~5.4%, their biggest fall since April; the takeover would create a $15 billion specialty insurer powerhouse
Frequently Asked Questions about Zurich Insurance raises $5 billion to partly fund Beazley takeover
1How much did Zurich Insurance raise to finance the Beazley takeover?
Zurich Insurance raised 3.9 billion Swiss francs ($5 billion) through a share sale.
2What will the funds raised by Zurich Insurance be used for?
The funds will partly finance the acquisition of Britain's Beazley PLC.
3How did Zurich Insurance's share price react to the announcement?
Shares in Zurich Insurance fell 5.4% after the share sale announcement.
4When will the new Zurich Insurance shares be listed?
The new shares are expected to be listed on the SIX Swiss Exchange around March 5.
5What are Beazley shareholders set to receive under the takeover deal?
Beazley shareholders will receive 1,335 pence per share, including cash and a dividend.
