--- title: Zurich to Acquire Beazley in £8 Billion ($11 Billion) Deal description: Zurich Insurance agrees to acquire Beazley in an £8 billion deal, expanding its presence in the Lloyd's market and creating a global specialty insurer with $15 billion in gross written premiums. image: https://www.ethosinsurance.com/hubfs/Industry%20News%20on%20the%20Metal%20Gears%20on%20Black%20Background..jpeg --- [Skip to main content](https://www.ethosinsurance.com/blog/zurich-to-acquire-beazley-in-8-billion-11-billion-deal#maincontent) [«  View All Posts](https://www.ethosinsurance.com/blog) [ Industry News ](https://www.ethosinsurance.com/blog/topic/industry-news) # Zurich to Acquire Beazley in £8 Billion ($11 Billion) Deal February 26th, 2026 | 3 min. read By [TJ Payne](https://www.ethosinsurance.com/blog/author/tj-payne) ![](https://www.ethosinsurance.com/hubfs/Industry%20News%20on%20the%20Metal%20Gears%20on%20Black%20Background..jpeg) Zurich Insurance Group has reached agreement in principle on the main financial terms of a recommended £8 billion ($11 billion) takeover of UK-based specialty insurer Beazley plc. Under the proposed terms, Beazley shareholders would receive £13.10 ($17.95) per share in cash plus a dividend of up to £0.25 ($0.34) for 2025, valuing the total consideration at up to £13.35 ($18.30) per share. The offer represents nearly a 60% premium to Beazley’s January 16 closing share price, the last business day before Zurich’s interest was made public ([The Guardian](https://www.theguardian.com/business/2026/feb/04/specialist-insurer-beazley-8bn-takeover-zurich); [Insurance Journal](https://www.insurancejournal.com/news/international/2026/02/19/858685.htm)). Zurich had previously made lower proposals, including a £12.80 ($17.55) per share bid that Beazley rejected as materially undervaluing the company ([Reuters](https://www.reuters.com/business/zurich-insurance-discloses-interest-uks-beazley-takeover-battle-intensifies-2026-02-02/)). Prior to the agreed terms, Beazley’s market valuation stood at £6.8 billion ($9.29 billion) ([Reuters](https://www.reuters.com/business/zurich-insurance-discloses-interest-uks-beazley-takeover-battle-intensifies-2026-02-02/)). Beazley’s board said it would, “be minded to recommend” the revised offer should a firm bid be made ([The Guardian](https://www.theguardian.com/business/2026/feb/04/specialist-insurer-beazley-8bn-takeover-zurich)). The companies have agreed to extend the deadline for Zurich to announce a firm intention to make an offer until March 4, 2026 ([Insurance Journal](https://www.insurancejournal.com/news/international/2026/02/19/858685.htm)). The transaction would combine two specialty-focused insurers and establish a UK-based global specialty insurer with $15 billion in gross written premiums ([The Guardian](https://www.theguardian.com/business/2026/feb/04/specialist-insurer-beazley-8bn-takeover-zurich)). Beazley is a leading participant at Lloyd’s of London, where its managing agent, Beazley Furlonge Ltd., is the largest in the market by gross written premium. Business written at Lloyd’s accounted for 77.7% of Beazley’s total insurance revenue in 2024 ([S&P Global Market Intelligence](https://www.spglobal.com/market-intelligence/en/news-insights/articles/2026/2/zurich-s-beazley-approach-marks-latest-move-in-rush-to-enter-lloyd-s-of-london-98654648)). Zurich currently lacks a Lloyd’s presence, and the acquisition would make it the largest participant in that market ([S&P Global Market Intelligence](https://www.spglobal.com/market-intelligence/en/news-insights/articles/2026/2/zurich-s-beazley-approach-marks-latest-move-in-rush-to-enter-lloyd-s-of-london-98654648)).   ## **Key Facts** - **Acquisition Value:** £8 billion ($11 billion). - **Offer Terms:** £13.10 ($17.95) per share in cash plus dividend of up to £0.25 ($0.34), for total value up to £13.35 ($18.30) per share. - **Premium:** Nearly 60% above January 16 closing share price. - **Prior Rejected Offer:** £12.80 ($17.55) per share. - **Pre-deal Market Valuation:** £6.8 billion ($9.29 billion). - **Deadline: **Firm intention to make an offer required by March 4, 2026. - **Combined Scale: **$15 billion in gross written premiums. - **Lloyd’s Exposure: **77.7% of Beazley’s 2024 insurance revenue derived from Lloyd’s business. - **Strategic Impact:** Acquisition would give Zurich a Lloyd’s platform and make it the largest participant in the market. For additional information regarding the acquisition, you can visit [Zurich](https://www.zurich.com/potentialbeazleyoffer)'s website for their official statements.  ## Contact Ethos If you have any additional questions about this story or the general state of the Healthcare Professional Liability (HPL) space, please click to [**Call**](tel:4252162920), **[Email](mailto:info@ethosinsurance.com)**, or **[Schedule a Meeting](https://www.ethosinsurance.com/talk-to-us)** today.   [ TJ Payne ](https://www.ethosinsurance.com/blog/author/tj-payne) TJ’s work spans marketing, operations, technology, and process development, all centered on improving the experience of retail insurance agents. Before joining Ethos in 2022, he held marketing roles at Western Washington University and Amazon, following nearly a decade in the service and hospitality industry. That background continues to shape his approach to communications, emphasizing clarity, responsiveness, and long-term relationship building over persuasion. TJ is especially drawn to solving complex brand and operational challenges, with a focus on strengthening Ethos’ position as a premier wholesale partner specializing in Healthcare Professional Liability (HPL) insurance. Outside of work, he trains in boxing and enjoys reading and writing, bringing the same patience, discipline, and attention to craft to every aspect of his work and life. Connect: [mailto:tpayne@ethosinsurance.com](mailto:tpayne@ethosinsurance.com) Don't forget to share this post: ## Related Articles [### Industry News: TDC Completes Acquisition of ProAssurance June 26th, 2026|1 min read ](https://www.ethosinsurance.com/blog/industry-news-tdc-completes-acquisition-of-proassurance) [### Industry News: Sompo to Acquire Aspen in $3.5 Billion Cash Deal September 3rd, 2025|2 min read ](https://www.ethosinsurance.com/blog/industry-news-sompo-to-acquire-aspen-in-3.5-billion-cash-deal) [### Industry News: CARE Risk Retention Group Placed into Rehabilitation by Vermont DFR April 29th, 2025|1 min read ](https://www.ethosinsurance.com/blog/industry-news-care-risk-retention-group-placed-into-rehabilitation-by-vermont-dfr) [### Hudson Launches Digital Health Program April 10th, 2024|1 min read ](https://www.ethosinsurance.com/blog/hudson-launches-digital-health-program) [### American Physician Partners (APP) Goes Out of Business; Hardships Following No Suprises Act (NSA) August 22nd, 2023|1 min read ](https://www.ethosinsurance.com/blog/american-physician-partners-app-goes-out-of-business-hardships-following-no-suprises-act-nsa) [### MagMutual Completes Acquisition of MDAdvantage August 9th, 2023|1 min read ](https://www.ethosinsurance.com/blog/magmutual-completes-acquisition-of-mdadvantage) [### MagMutual Announces New Combination Cyber & Regulatory Liability Policy April 28th, 2023|1 min read ](https://www.ethosinsurance.com/blog/magmutual-announces-new-combination-cyber-regulatory-liability-policy) [### Pennsylvania Loosens Venue Laws for Medical Malpractice Suits November 3rd, 2022|3 min read ](https://www.ethosinsurance.com/blog/pennsylvania-loosens-venue-laws-for-medical-malpractice-suits) [### Core Specialty Acquires Hallmark E&S November 1st, 2022|2 min read ](https://www.ethosinsurance.com/blog/core-specialty-acquires-hallmark-es) [### What Is the New MICRA and What Does It Change? 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