The European Commission has approved the acquisition of exclusive control of London-based specialist insurance company Beazley by global insurer Zurich Insurance Group Ltd under the EU Merger Regulation.
The Commission concluded that the notified transaction did not raise competition concerns given the company’s limited market position. The announced transaction has been reviewed under the streamlined merger review procedure.
As a reminder, on January 4, 2026, Zurich submitted a proposal to acquire 100% of the insurance company for 1,230p in cash per Beazley share. On January 16, the proposal was rejected by Beazley’s board of directors.
On January 19, Zurich made an improved proposal of 1,280 pence per share, but it was again rejected because Beazley’s board said the proposal “significantly undervalued Beazley and its long-term prospects as an independent company”.
In February, the two insurers agreed on key financial terms for a potential proposed cash takeover offer after Zurich returned with an improved proposal worth up to 1,335p per Beazley share.
Most recently, on March 2, 2026, the two companies reached an agreement whereby Zurich would acquire Beazley in an all-cash deal valued at £8.1 billion ($10.8 billion).
