Zurich to Acquire Beazley in $11B European Insurance Deal

Cyber Insurance Expansion Drives Insurance Industry Consolidation Michael Novinson (MichaelNovinson) • March 2, 2026

Zurich Insurance Group plans to purchase U.K.-based insurer Beazley for $11 billion, creating a global powerhouse with a significant cyber insurance footprint.

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Cyber insurance is central to the proposed acquisition, with Beazley operating one of the world's largest cyber underwriting businesses. It reported $1.28 billion in cyber insurance premiums in 2024. Zurich praised Beazley for deepening its exposure to high-growth areas including cyber, marine, excess and surplus, political risk and financial lines, and said it'll create the leading global specialty underwriter.

"Today's announcement signals our joint intent to build a U.S. $15 billion, global specialty leader - with Beazley at its core," Beazley CEO Adrian Cox said in a statement. "It will be a leading provider in cyber, a top-ten participant in the ...