Slaughter and May is advising Zurich Insurance Group (“Zurich”) on its recommended cash offer for the entire issued and to be issued share capital of Beazley plc (“Beazley”), to be effected by means of a court-sanctioned scheme of arrangement. The transaction represents a strong step in accelerating Zurich’s Specialty strategy and will create the global leader in Specialty insurance with c.US$15bn of gross written premiums.
Under the terms of the offer, Beazley shareholders will be entitled to receive 1,310 pence in cash per Beazley share, and a permitted dividend of up to 25 pence to be paid prior to completion. The offer values Beazley at approximately £8.2bn. The transaction is expected to complete in H2 2026, subject to regulatory and shareholder approvals.
Slaughter and May is working closely with Zurich’s Group legal team, led by Katja Roth Pellanda (Group General Counsel), assisted by Robert Kuster, Fabienne Crisovan, Julie Vandeloo and Rafal Szala.
