In an accelerated bookbuilding process, Zurich placed just under 7,1 million new registered shares at a price of 550 francs per share. Gross proceeds amount to 3,9 billion francs, according to a statement released on Tuesday.

The capital increase forms part of the financing of the Beazley takeover. Zurich is offering 1,310 pence per Beazley share (13,10 pound), in addition to the announced dividend of 25 pence.

Earnings Dilution Weighs on Share Price

As previously communicated, the purchase price for the British insurance company amounts to around 10,9 billion dollar. In addition to the capital increase, the acquisition will be financed with existing cash of around 3,0 billion dollar and new debt instruments totalling 2,9 billion dollar.

The new Zurich shares have a nominal value of 0,10 franc. As a result, the company’s share capital will increase to around 15,34 million francs from 14,64 million francs previously, representing a rise of 4,8 percent. The new shares are expected to be listed and admitted to trading on SIX Swiss Exchange on or around March 5, 2026. They will be entitled to a dividend of 30 francs per share for the 2025 financial year.

In a markedly negative market environment, Zurich’s share price fell 5,3 percent to 544,60 francs on Tuesday morning.