FTSE 100 Insurer Beazley to Exit City in £8Bn Takeover Deal

[Para 1] London's FTSE 100 insurance giant Beazley (LON:BEZ) is set to exit the City after agreeing a £8 billion takeover deal with Zurich, a Swiss rival. The transaction, announced on 4 February 2026, marks a significant shift in the London stock market, with analysts predicting potential further exits by other City firms. [Para 2-3] Beazley, employing 2,500 personnel, accepted Zurich's increased bid of 1,335p per share, a 60% premium over its pre-offer price. The deal, valued at £8 billion, is expected to create an insurance powerhouse with combined sales of $15 billion. Beazley's board is recommending the offer, citing its potential to strengthen the company. The transaction is subject to customary conditions and is expected to close in the second quarter of 2026. Market watchers anticipate this deal could prompt other City-listed insurers to consider similar takeovers, highlighting concerns over London's insurance sector's future.