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Evening Standard
Evening Standard
Business
Henry Saker-Clark

Insurer Beazley agrees £8 billion takeover by rival Zurich

Beazley Zurich London
Zurich Insurance has unveiled a proposal to buy London-listed rival Beazley in a deal worth £7.7 billion. (Alamy/PA) -

Swiss insurance giant Zurich has struck an £8 billion deal in principle to buy UK rival 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.

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