Zurich is looking to strike a deal to acquire Beazley, a leader in specialty insurance, including cyber, marine and aviation, and fine art. The bid highlights the potential of global cyber insurance market, which grew to $22.2 billion in 2025 and is estimated to reach $35.4 billion by 2030, according to GlobalData, a leading intelligence and productivity platform.

GlobalData’s finds that while Zurich is not in the top 10 leading cyber insurers globally, it is the second-largest player in the UK SME market. It had a market share of 7% in 2025 for standalone cyber insurance, behind only Aviva (with 8.1%), according to GlobalData’s 2025 UK SME Insurance Survey.

Ben Carey-Evans, Senior Insurance Analyst at GlobalData, comments: “The acquisition, if it happens, is expected to cement Zurich’s place as one of the leading commercial insurers globally. While Beazley has a much smaller share of the UK market, it does excel in specialized areas and can help Zurich increase its spread of expertise and become a standout player in the UK and global commercial market.”

GlobalData’s UK Top 25 General Insurance Analytics tool finds that Zurich is the fourth-biggest insurer in the UK with GBP3.5 billion ($4.7 billion) in GWP and a market share of 4.4%. in 2024  

The bid of GBP7.7 billion ($10.3 billion) was rejected in January, which would have made it one of the largest insurance acquisitions ever. It is unclear whether Zurich will bid again, though they had previously had a bid rejected in June 2025, which suggests that the company is very keen to complete the deal.  

Carey-Evans concludes: “As cyber insurance is projected to see considerable growth in over the next few years, identifying a cyber specialist to acquire shows that Zurich is targeting a huge potential growth area in the insurance industry.”