Zurich and Beazley deal ‘not about laying off staff’ – CEO Greco
Zurich CEO Mario Greco has made clear the £8.1bn acquisition of Beazley is “not about laying off staff” as he noted Beazley will become fully part of Zurich in 2027.
“Retention, from the beginning, has been my biggest concern,” he said.
“In the first meeting I had almost a year ago with Adrian [Cox, Beazley CEO], I said if there are risks on the retention of your team, the underwriters, then I would simply walk away.”
Greco noted the two businesses have been working together on an incremental retention plan: “We think we have a competitive offer that Adrian will present to [Beazley’s] teams over the next weeks.
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