(Jan 22): Beazley on Thursday rejected a 7.67-billion-pound (US$10.3 billion) takeover offer from Zurich Insurance as materially undervaluing the UK speciality insurer, adding it was lower than another proposal the group turned down last year. Zurich, Europe's second-largest insurer by market value, declined to comment. At that price, a deal would value Beazley's equity at about 8.4 billion pounds, the company said. Beazley said it had received three proposals from Zurich that month and engaged with it "appropriately," including giving Zurich some limited due diligence information in good faith. Zurich is looking to build up its speciality insurance business, and sees Beazley as a good fit given its expertise in cyber, marine, aviation and space, and fine art insurance.

Source: The Edge Markets January 22, 2026 10:20 UTC