Reg – Zurich Insurance Grp Beazley Plc – Possible Offer for Beazley Plc

Introduction to Zurich’s Offer for Beazley

Zurich Insurance Group, a global leader in commercial lines insurance and a market leader in the UK, has made waves in the industry with its latest move. On 19 January 2026, the company submitted an improved proposal to acquire 100% of Beazley plc, another well-known player in the Specialty insurance sector.

Significant Offer Details

The new offer price stands at £1,280 per share, which is a significant improvement from previous proposals. This latest bid represents a premium of 56% to Beazley’s closing share price on 16 January 2026 and 56% to its volume-weighted average share price over the last 30 days.

Furthermore, it offers a 27% premium over sell-side analysts’ median price targets for Beazley as of 16 January 2026 and a 32% premium compared to Beazley’s all-time high share price on 6 June 2025. This substantial offer is designed to facilitate prompt engagement with the Board of Beazley.

Reasons Behind Zurich’s Decision

Zurich has reiterated its desire to proceed at pace and believes that this offer price provides full value for Beazley across all relevant metrics. The company emphasizes that the transaction would create a global leader in Specialty insurance with combined gross written premiums of $15 billion, exceptional data availability, underwriting expertise, leading market and distribution capabilities, and outstanding reinsurance and technology infrastructures.

According to Zurich, this combination of two highly complementary businesses would establish a leading global Specialty platform based in the UK, leveraging Beazley’s Lloyd’s of London presence. This move is also in line with Zurich’s strategic priorities as set out at its Investor Day on 18 November 2025.

Financial and Strategic Considerations

Zurich Insurance Group has a strong UK presence, with over 4,500 employees located across 14 cities and regional towns. The company offers a range of services including underwriting, claims adjustment, risk advisory, policy administration, and investment management to individuals, corporates, charities, and communities.

Zurich invests in UK assets to match its long-term insurance and pension liabilities, with investments spanning across infrastructure, real estate, and bonds. This acquisition would be funded through existing cash reserves, new debt facilities, and an equity placing, all of which are expected to be accretive to Zurich’s 2027 financial targets.

Timeline and Next Steps

The next few weeks will be crucial as Zurich Insurance Group has until 16 February 2026 to either announce a firm intention to make an offer for Beazley or inform the market that it does not intend to do so. This deadline can only be extended with the consent of the Takeover Panel.

Zurich also reserves the right to introduce other forms of consideration and/or vary the mix or composition of its offer, depending on developments. If a third party were to announce a more favorable offer for Beazley, Zurich would retain the flexibility to respond accordingly.

For investors and stakeholders, this move signals significant strategic intent from Zurich Insurance Group in expanding its global footprint through targeted acquisitions. The outcome will be watched closely by industry observers who are eager to see how these two companies align their resources to create a more resilient Specialty insurance platform.

Contact:

• Zurich Insurance Group Ltd
• Mythenquai 2, 8002 Zürich, Switzerland
• www.zurich.com
• SIX Swiss Exchange/SMI: ZURN
• Contact: +41 44 625 21 00 [email protected]
• Investor Relations Contact

For more information, visit:

• Zurich’s official website: https://www.zurich.com/PotentialBeazleyOffer

Note to editors:

• Zurich has a strong UK presence, with over 4,500 employees spread across offices in 14 cities and regional towns.
• The company offers a range of services including underwriting, claims adjustment, risk advisory, policy administration, and investment management.