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Zurich’s interest in a specialty carrier that moves the dial on cyber is no surprise. -
The CEO said Beazley would retain its brand and management and gain $9bn of premium.
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The bank observed that multiples in the last M&A cycle ranged from 1.6x to 2.5x.
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The company said prior bids from Zurich “significantly undervalued” the business.
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The deal would create a $15bn specialty insurer and mark Zurich's entry into Lloyd’s
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The reinsurance broker will be known as Marsh Re starting in 2027 as part of a broader company shift.
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Upon closing, the unit will be renamed First Product Protection.
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The sale will see a transfer of renewal rights and the product recall team.
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What is the strategic thinking behind The Fidelis Partnership’s unique business model?
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EQT, PAI and Stone Point were involved in early bidding for the asset.
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Gallagher’s $13.45bn deal for AssuredPartners was completed in August.
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Carrier M&A will continue to be a feature, as pressure for returns on AI investment ramps up.
