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Beazley PLC on Thursday rebuffed the latest takeover approach from Zurich Insurance Group AG, arguing it ‘materially undervalues’ the Beazley and its long-term prospects. On Monday, Beazley said Switzerland’s Zurich Insurance had made a 1,280 pence per share cash proposal to acquire the London-based insurer, valuing it at £7.67 billion. This followed a £7.37 billion proposal, on 1,230p per share, made by Zurich on January 4, which Beazley also spurned. On Thursday, Beazley also disclosed that last June, it had rejected a higher 1,315p per share tilt from Zurich, worth £8.4 billion, the last of three proposals made at the time. Shares in Beazley were down 1.0% at 1,112.00p each in London on Thursday morning for a market value of £6.67 billion, after earlier trading as low as 1,045.00p. Zurich Insurance was up 0.8% at fr.559.60 in Zurich on Thursday for a R 81.87 billion, about £76.80 billion, market cap. Beazley said it is ‘very confident’ in its standalone prospects and in the ‘attractiveness’ of its business model fundamentals. ‘The board is fully focused on maximising shareholder value, has listened carefully to the feedback it has received from its shareholders and is open-minded about all options to deliver value,’ Beazley said in a statement. The FTSE 100 listing it believes that ‘Beazley is uniquely positioned within the global insurance market to maximise long-term shareholder value and realise the full potential of its specialty platform.’ Beazley highlighted five core strengths: a track record of delivering shareholder value; underwriting excellence; leader in cyber; superior return generation; and strong capital and reserves. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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