Zurich-Beazley deal would sharpen specialty edge: GlobalData

Beazley’s expertise in specialist lines could help Zurich expand its technical capabilities.

Zurich’s plan to acquire Beazley would strengthen its position in specialty insurance lines, including cyber, marine and aviation, and fine art, according to analysis by GlobalData.

“Whilst Beazley has a much smaller share of the UK market, it does excel in specialised areas and can help Zurich increase its spread of expertise and become a standout player in the UK and global commercial market,” Ben Carey-Evans, senior insurance analyst at GlobalData, said in a news release.

The deal, if completed, would strengthen Zurich’s position in the global commercial insurance market. He added that Beazley’s expertise in specialist lines could help Zurich expand its technical capabilities and capture future growth, particularly in cyber insurance.

The potential acquisition highlights the growth prospects of the global cyber insurance market, which was valued at $22.2b in 2025 and is forecast to reach $35.4b by 2030, GlobalData said.

Although Zurich is not amongst the top 10 cyber insurers globally, GlobalData noted that it is the second-largest provider in the UK SME market. 

Zurich held a 7% share of the UK standalone cyber insurance market in 2025, behind Aviva’s 8.1%, based on GlobalData’s 2025 UK SME Insurance Survey.

GlobalData’s UK Top 25 General Insurance Analytics tool shows that Zurich was the fourth-largest general insurer in the UK in 2024, with $4.7b in gross written premiums and a market share of 4.4%.

Zurich’s $10.3b bid for Beazley was rejected in January. 

A previous bid was also turned down in June 2025. It remains unclear whether Zurich will submit another offer, but the repeated attempts indicate a strong interest in completing the acquisition.