Zurich / BeazleyMN-30016

Parties

Summary

Zurich Insurance Group Ltd acquired all shares in UK-based global specialty insurer Beazley plc. This share acquisition involves competitive overlap in Australian insurance products, including Cyber, Marine, SME, Corporate Property, and Professional Liability. Zurich, a global multi-line insurer, has Australian operations. The transaction has been approved.

Acquisition details

Zurich Insurance Group Ltd ( Zurich ) proposes to acquire all of the shares in Beazley plc ( Beazley ) (the Acquisition ). Beazley is a UK-based global specialty insurance business. Globally, Beazley underwrites a range of specialty insurance products, including professional indemnity, cyber liability, property, marine, reinsurance, accident and life sciences, financial institutions, directors and officers, and political risks and contingency business. Beazley manages 7 Lloyd’s syndicates that underwrite insurance and reinsurance business through the Lloyd’s global platform, and is active in Australia solely through these syndicates. Zurich is a global multi-line insurer headquartered in Switzerland. In Australia, Zurich, through its wholly-owned subsidiaries, supplies a range of life insurance products and general insurance products, including specialty insurance products. The Acquisition gives rise to a competitive overlap in relation to the supply of the following insurance products in Australia: Cyber, Marine, SME, Corporate Property, Personal Accident, Management Liability, Professional Liability, and Financial lines/institutions.