The deal has become effective following the delivery of a copy of the court order to the Registrar of Companies
Zurich has taken ownership of Beazley following a court-sanctioned scheme of arrangement coming into effect.
In a joint statement in February 2026, Zurich and Beazley confirmed that they had reached an agreement in principle on the key financial terms of an £8.1bn deal.
In a statement on 14 September 2026, it was revealed that a court hearing had been scheduled for 22 September 2026 to sign it all off.
The court has now sanctioned the scheme, with this becoming effective following the delivery of a copy of the court order to the Registrar of Companies earlier today (1 October 2026).
It means that the deal is now complete. Applications have been made to the FCA and the London Stock Exchange (LSE) in relation to the delisting of Beazley shares from the official list and cancellation of the admission to trading of Beazley shares on the main market of the LSE.
Beazley also announced that Clive Bannister, Rajesh Agrawal, Roy Clark, Pierre-Olivier Desaulle, Nicola Hodson, Fiona Muldoon, Carolyn Johnson, (Anthony) John Reizenstein and Cecilia Reyes Leuzinger have stepped down from the Beazley board and Patrick Manley, Earl Randall Clouser, Helen Pickford, Kristof Terryn and Claudia Cordioli have been appointed to the board.
’Specialty platform’
Under the terms of the scheme, holders of scheme shares are entitled to receive 1,310 pence for each scheme share.
Read: European Commission clears Zurich’s acquisition of Beazley
Read: Zurich UK appoints new head of regional market for the north
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Zurich believes taking over Beazley would help to establish a leading global specialty platform, based in the UK, that would bring in around $15bn (£11.1bn) of GWP.
Mario Greco, chief executive at Zurich, said: “This transaction is a strong step in accelerating Zurich’s specialty strategy.
”Together with Beazley, we will create the world’s leading specialty underwriter, with around $15bn of pro forma GWP, exceptional underwriting expertise and data capabilities and leading access to global distribution.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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