London-listed speciality insurer Beazley said on Wednesday shareholders approved Swiss group Zurich Insurance's £8.1 billion ($10.94 billion) all-cash takeover, with 99.9 per cent votes in favour at a meeting held earlier in the day.
The acquisition, which follows a series of cyber-focussed investments by Zurich, will help the Swiss insurer significantly expand its foothold in speciality insurance, encompassing areas such as cyber, marine, aviation, space and fine art.
Days after Zurich struck the deal with Beazley, it also agreed to buy Generali's Irish PC operations for €337 million ($394.69 million).
Last year, it acquired Canadian cyber insurtech Boxx Insurance, after backing the company in earlier funding rounds. In 2024, it had invested $60 million in California-based Cowbell.
Earlier in March, Zurich raised CHF3.9 billion ($4.98 billion) in a share sale to help finance the Beazley acquisition, after the British insurer accepted an improved offer of up to 1,335p per share.
The transaction remains subject to court sanction, which Beazley said it expects will take place during the second half of 2026.
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Diti Pujara)
