Business
Publication of the Scheme Document
Zurich Insurance Group has published the scheme document detailing its recommended all-cash offer for Beazley plc, to be implemented via a Scheme of Arrangement. The document outlines the full terms and conditions of the transaction, including an explanatory statement, meeting notices for Beazley Shareholders, and an expected timetable of events. The Beazley Directors, having received financial advice, consider the terms fair and reasonable and unanimously recommend that shareholders vote in favour of the scheme, with directors having irrevocably undertaken to do so for their aggregate 0.34% holding. The scheme is expected to become effective in the second half of 2026, subject to shareholder approval and court sanction. Disclaimer*
About this update from Beazley Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATION OF THAT JURISDICTION\nFOR IMMEDIATE RELEASE\n26 March 2026\nRECOMMENDED CASH OFFER\nby\nZurich Insurance Group Ltd (\"Zurich\")\nfor\nBeazley plc (\"Beazley\")\nto be implemented by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006\nPUBLICATION OF THE SCHEME DOCUMENT\nOn 2 March 2026, the board of directors of Beazley and the board of directors of Zurich announced that they had reached agreement on the terms of a recommended all-cash offer by Zurich for the entire issued and to be issued share capital of Beazley (the \"Transaction\"). The Transaction is to be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\").\nBeazley and Zurich are pleased to announce that the scheme document containing the full terms and conditions of the Transaction (the \"Scheme Document\"), has been published today by Beazley. The Scheme Document contains, among other things, a letter from the Chair of Beazley, an explanatory statement pursuant to section 897 of the Companies Act 2006, the full terms and conditions of the Transaction, the Scheme, an expected timetable of principal events, notices of the Court Meeting and the General Meeting, together with the related Forms of Proxy, and details of the actions to be taken by Beazley Shareholders.\nCopies of this Announcement and the Scheme Document will be made available on Beazley's website at https://www.beazley.com/en-US/investor-relations and Zurich's website at https://www.zurich.com/beazleyoffer. The contents of Beazley's website and Zurich's website are not incorporated into, and do not form part of, this Announcement.\nA copy of the Scheme Document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.\nHard copies of the Scheme Document (or, depending on Beazley Shareholders' communication preferences, a letter or email giving details of the website where the Scheme Document may be accessed) and Forms of proxy for the Court Meeting and the General Meeting are being sent to Beazley Shareholders today, ...