Zurich has struck an £8bn deal in principle to buy Beazley.
Zurich said it will pay £13.10 in cash per share for the London-listed specialist insurer, with shareholders also set to receive a 25p dividend alongside the deal.
In a joint statement, the firms said: “The transaction would combine two highly complementary businesses and would establish a leading, global specialty platform with around US$15bn of gross written premiums, based in the UK which would also leverage Beazley’s Lloyd’s of London presence.”
The proposed deal comes only two weeks after Beazley rebuffed a £7.7bn takeover approach by Zurich.
