Swiss insurance group Zurich Insurance Group AG has agreed to acquire British company Beazley Plc. The transaction is valued at £8.1 billion, equivalent to approximately $10.8 billion.
Under the terms of the agreement, Beazley shareholders will receive £13.10 per share. Additionally, an additional dividend payment of £0.25 per share is provided. The transaction will be financed entirely in cash.
The acquisition is expected to close in the second half of this year, pending receipt of the necessary approvals. Beazley specializes in cyber insurance, professional liability insurance, and provides insurance coverage for the shipping and aviation industries.