Beazley subsequently disclosed that Zurich had made three proposals in June 2025, including one valuing the company at 1,315 pence per share, implying an equity value of about £8.4 billion. That level was above the most recent offer and was also turned down. Beazley said it engaged with Zurich at the time and provided limited due diligence information “in a good faith effort to come to a shared understanding of value.”

