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Evening Standard
Evening Standard
Henry Saker-Clark

Profits cut by half at insurer Beazley ahead of £8.1bn Zurich takeover

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

Insurance firm Beazley has revealed its profits tumbled by more than half over the past year six months, ahead of its mammoth takeover by rival Zurich.

Boss Adrian Cox said the company was knocked by “rapidly softening conditions” in the specialist insurance market.

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