Zurich trying to ‘bear hug’ Beazley, says investment advisory firm
“Zurich is clearly trying to ‘bear hug’ Beazley. They obviously think they are offering a price that is high enough for target shareholders to put pressure on the company to sell itself.”
That is the opinion of Mark Kelly, CEO at MKI Global Partners, after Zurich increased its bid for Beazley.
Zurich submitted a takeover bid of 1280 pence per share yesterday (19 January) looking to buy 100% of Beazley. The offer valued the target at £7.67bn.
It also revealed it previously made an offer on 4 January worth 1230 pence per share and this had been dismissed.
Hours later the Beazley board responded it had rejected the first offer unanimously “on the basis that it significantly undervalued
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Intact to increase access to underwriters with trading proposition roll-out
Intact Insurance has a new launched broker proposition Intact Trading, designed to increase visibility of underwriters and create a relationships-led approach to UK regional business.
Defaqto spends £11m snapping up pricing business
Defaqto has bought Pearson Ham Group’s market pricing business for £11m.
Fund raising campaign for Insurance Museum launched
The Insurance Museum has launched a fundraising campaign to open a museum in London, EC3, in three years’ time dedicated to insurance.
Beazley board ‘not yet had the chance to consider’ £7.67bn Zurich takeover proposal
The board of Beazley has responded to Zurich’s bid confirming it has not had time to consider the improved offer having rejected a previous approach.
Zurich ups Beazley bid after offer rejected for ‘significantly undervaluing’ target
Zurich has submitted an improved proposal to the board of Beazley worth 1280 pence a share, valuing the insurer at £7.67bn.
Clear makes vet broker first deal of 2026
Clear Group has kicked off 2026 purchasing specialist veterinary insurance broker Shire Insurance Services, strengthening its UK retail pillar.
Amiga Specialty adds IGI and Lloyd’s capacity to ‘core strategic growth area’
Amiga Specialty has secured capacity for its UK and European Transactional Risks team, supported by IGI and Lloyd’s, in its second expansion of the month.
Uris enters Northern Ireland home insurance market
Midas, part of Uris Group, has expanded its Midas Jewel household product into Northern Ireland.