Zurich Insurance has finalized a merger agreement to acquire London-listed cyber insurer Beasley for £13.35 per share, valuing the transaction at approximately $11 billion. The deal concludes a period of market uncertainty regarding the acquisition's prospects.

The two companies had initially agreed on terms early last month, under which the Swiss insurer would purchase the smaller, London-listed cyber insurance provider in an all-cash transaction. The enterprise value of the deal is about £8.2 billion ($11.06 billion).

A deadline for Zurich to either make a firm offer or withdraw had been postponed until this week, coinciding with the release of Beasley's annual financial results.

Zurich Insurance stated on Monday that the merger is expected to create significant value for shareholders by combining two highly complementary businesses. The company anticipates the transaction will be earnings accretive in the first year and achieve a double-digit return on investment in the medium term. Pending approval from shareholders and regulators, the acquisition is expected to close in the second half of this year.

Part of the acquisition will be funded through a share issuance of approximately CHF 3.9 billion ($5.07 billion). Zurich indicated that the new shares will be offered to specific investors via an accelerated bookbuilding process, which is expected to be completed this week.

The remaining funds for the all-cash transaction will be sourced from existing cash reserves and credit facilities.

Zurich stated that the combined entity's total gross written premiums for specialty insurance will reach approximately $15 billion. This acquisition will further strengthen Zurich's market-leading position in specialty insurance, which currently has gross written premiums of about $9 billion as of December 31, 2025.