Zurich Insurance: Εξαγορά της βρετανικής Beazley με προσφορά περίπου στα 11 δισ. δολάρια
Ο ασφαλιστικός όμιλος Zurich Insurance Group κατέληξε σε κατ’ αρχήν συμφωνία με τη Beazley σχετικά με τους βασικούς χρηματοοικονομικούς όρους μιας πιθανής προσφοράς εξαγοράς με μετρητά για τη βρετανική ασφαλιστική εταιρεία ειδικών κινδύνων, αποτιμώντας την σε περίπου 8 δισ. λίρες (περίπου 10,9 δισ. δολάρια).
Η τελευταία αυτή πρόταση βάζει τέλος σε μια πολύμηνη προσπάθεια της ελβετικής ασφαλιστικής, η οποία προσέγγισε για πρώτη φορά τη Beazley τον Ιούνιο του 2025 με τρεις διαφορετικές προσφορές — η υψηλότερη στα 1.315 πένες ανά μετοχή, που συνεπαγόταν αποτίμηση ιδίων κεφαλαίων περίπου 8,4 δισ. λιρών. Και οι τρεις απορρίφθηκαν.
Η Zurich επανήλθε με νέα προσέγγιση στις 4 Ιανουαρίου του τρέχοντος έτους, προσφέροντας 1.230 πένες ανά μετοχή. Η Beazley την απέρριψε στις 16 Ιανουαρίου, δηλώνοντας ότι η προσφορά «υποτιμούσε σημαντικά» την εταιρεία.
Ακολούθησε βελτιωμένη πρόταση στις 19 Ιανουαρίου στα 1.280 πένες, η οποία απορρίφθηκε εκ νέου στις 22 Ιανουαρίου, αυτή τη φορά με το σκεπτικό ότι «υποτιμούσε ουσιωδώς» την εξειδικευμένη στον κυβερνοασφαλιστικό κίνδυνο εταιρεία.
Οι μέτοχοι της Beazley θα λάβουν, σύμφωνα με την τρέχουσα συμφωνία, έως και 1.335 πένες ανά μετοχή, που περιλαμβάνουν τίμημα 1.310 πενών σε μετρητά και επιτρεπόμενο μέρισμα έως 25 πένες για τη χρήση που έληξε στις 31 Δεκεμβρίου 2025.
Εξαιρουμένου του μερίσματος, η προσφορά αντιπροσωπεύει premium 59,8% σε σχέση με την τιμή κλεισίματος της μετοχής της Beazley στις 820 πένες στις 16 Ιανουαρίου, την τελευταία ημέρα διαπραγμάτευσης πριν από την έναρξη της περιόδου προσφοράς. Σε σύγκριση με το ιστορικό υψηλό των 973 πενών που καταγράφηκε στις 6 Ιουνίου 2025, η προσφορά αντιστοιχεί σε premium 34,6%.
Το συνολικό τίμημα, εφόσον το επιτρεπόμενο μέρισμα εγκριθεί και καταβληθεί στο σύνολό του, θα είναι 62,8% υψηλότερο από τη χρηματιστηριακή κεφαλαιοποίηση της Beazley με βάση την τιμή κλεισίματος της 16ης Ιανουαρίου.
Κανονιστική κατάθεση που δημοσιοποιήθηκε στις 3 Φεβρουαρίου έδειξε ότι η Zurich κατέχει ήδη 1,47% της Beazley, που αντιστοιχεί σε περίπου 8,9 εκατ. κοινές μετοχές, γεγονός που την κατατάσσει στους 20 μεγαλύτερους μετόχους της εταιρείας.
Beazley expands focus on cyber security services with creation of Beazley Security
Beazley, the leading specialty insurer, has today announced the merger of its in house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley Security will be led by Alton Kizziah, currently CEO of Lodestone, he will report to Paul Bantick Beazley’s Global Head of Cyber Risks.
The new company integrates the risk management services provided as part of a Beazley cyber insurance policy with Lodestone’s technical cyber security services. Beazley Security, will offer integrated cyber preparedness and response capabilities and invest in new services such as a managed eXtended Detection and Response (mXDR) solution which provides round the clock monitoring, enabling rapid identification and containment of threats.
Paul Bantick, Global Head of Cyber Risks, Beazley commented: “We live in an era of accelerating cyber risk and by combining these two experts in cyber security and insurance, we are creating a force capable of addressing the challenges head on. I am looking forward to working with Alton and the team to support our clients in an ever more seamless and effective way.”
Alton Kizziah, CEO of Beazley Security said: “Building cyber resilience is top of mind for business leaders and Beazley Security has been created to bring responsive cyber protections to the heart of the fight against ever-evolving threats. I’m excited to lead an outstanding team of specialists committed to providing clients with confidence and peace of mind.”
Beazley’s CEO Horton to Become Group CEO of QBE Insurance in Australia
Beazley Chief Executive Officer Andrew Horton is leaving to become the group chief executive officer of QBE Insurance Group Ltd. in Australia, the two companies announced. Horton will be succeeded in the role by Adrian Cox, the current chief underwriting officer.
QBE had appointed Richard Pryce as interim CEO in October 2020 after CEO Pat Regan was forced to step down, following a complaint from a female employee in the United States. A search for a new CEO had been conducted since that time.
Andrew Horton
Horton will remain with Beazley until March 31, 2021 and is not expected to take up his new role until Sept. 1, 2021.
“Andrew is an inclusive and collaborative executive, who places a strong focus on risk, culture and relationships. He is known for driving positive change and high performance and has built a well-respected business over a number of years,” said QBE Chairman Mike Wilkins. “His deep understanding of the insurance landscape and the opportunities and challenges across each of our markets, see him well placed to build QBE for the future.”
When Horton moves into his new role, QBE’s Interim CEO Pryce will move to an advisory capacity, providing a three month leadership transition before retiring from the company in December 2021.
Horton’s appointment is subject to regulatory approvals.
Effective April 1, Adrian Cox will succeed Horton as CEO of Beazley, where he has worked for 20 years, most recently as chief underwriting officer. With more than 25 years’ of industry experience, Cox has been a member of the Beazley plc board since 2010.
Adrian Cox
Following Cox’s appointment, Bethany Greenwood will be the interim CUO of long-tail underwriting (cyber and executive risk and specialty lines), and Tim Turner will be the interim CUO of short-tail underwriting (marine, market facilities, political, accident and contingency, property and treaty). These responsibilities will be in addition to their current roles, while Beazley conducts the process to appoint a new CUO.
Horton’s Biography
Horton joined Beazley as finance director in June 2003 and became CEO in 2008. During his tenure as CEO, the company profitably grew by around 10% per annum and it successfully added international operations on what had been a purely London-based company, said QBE in its announcement about the appointment. Prior to Beazley, Horton spent 15 years in the banking industry at ING, Nat West and Lloyds Bank in a variety of finance roles, ultimately being the UK chief financial officer for ING’s wholesale banking division.
He qualified as a chartered accountant with Coopers and Lybrand in 1987. Horton completed a Bachelor (Hons) of Natural Sciences from the University of Cambridge and was a non-executive director of investment management firm, Man Group from 2013 to 2020.
“On behalf of the whole board, I would like to thank Andrew for his leadership and outstanding contribution to Beazley, in particular as CEO, a position he has held since 2008,” commented Beazley Chairman David Roberts. “He has overseen the expansion of Beazley over this period, and leaves it in a strong position operationally and financially. We wish Andrew well in his new role.”
“[Adrian Cox’s] appointment provides continuity in Beazley’s leadership team and strategic direction. This ensures that we will continue delivering for our people, our clients and our shareholders in the years to come,” he added.
QBE Chairman Wilkins thanked Pryce for stepping in and leading QBE “with focus and clarity at a critical time for the group.”
“On behalf of the board, we wish him every happiness in retirement, and we thank him for his commitment and service to our company over many years,” he said.
Source: QBE and Beazley