Zurich Discloses Beazley Stake Following Rejection of Bid by UK Insurer

Zurich Insurance Group AG has recently revealed a 1.5% stake in Beazley Plc, just two weeks after the UK specialty insurer turned down the industry giant’s latest takeover bid.

The Swiss insurance company now owns approximately 8.87 million shares of the London-listed Beazley, equating to about 1.47% of its equity. This information was disclosed in a statement released on Monday, indicating that Zurich began purchasing shares on January 19.

As of 1:19 p.m. in London, Beazley’s shares saw a rise of 3.6%, trading at 1,174 pence.

This strategic move follows Beazley’s rejection of Zurich’s recent proposal of 1,280 pence per share on January 22, which the company deemed to “materially undervalue” its worth. This bid was the fifth attempt made by Zurich’s Chief Executive Officer, Mario Greco, to acquire Beazley.

In its rejection statement on January 22, Beazley pointed out that Zurich’s latest offer was lower than a previous one made in June, which was set at 1,315 pence per share.

Despite a rally of over 40% in Beazley’s stock since the announcement of the bid on January 19, the shares are still trading below the rejected offer price.

Photo: A Zurich Insurance Group AG building in Zurich, Switzerland. Photo credit: Alessandro Della Bella/Bloomberg

Copyright 2026 Bloomberg.

Topics
Carriers

Zurich Insurance Group AG has recently revealed a 1.5% stake in Beazley Plc, just two weeks after the UK specialty insurer turned down the industry giant’s latest takeover bid.

The Swiss insurance company now owns approximately 8.87 million shares of the London-listed Beazley, equating to about 1.47% of its equity. This information was disclosed in a statement released on Monday, indicating that Zurich began purchasing shares on January 19.

As of 1:19 p.m. in London, Beazley’s shares saw a rise of 3.6%, trading at 1,174 pence.

This strategic move follows Beazley’s rejection of Zurich’s recent proposal of 1,280 pence per share on January 22, which the company deemed to “materially undervalue” its worth. This bid was the fifth attempt made by Zurich’s Chief Executive Officer, Mario Greco, to acquire Beazley.

In its rejection statement on January 22, Beazley pointed out that Zurich’s latest offer was lower than a previous one made in June, which was set at 1,315 pence per share.

Despite a rally of over 40% in Beazley’s stock since the announcement of the bid on January 19, the shares are still trading below the rejected offer price.

Photo: A Zurich Insurance Group AG building in Zurich, Switzerland. Photo credit: Alessandro Della Bella/Bloomberg

Copyright 2026 Bloomberg.

Topics
Carriers