A quick look at the top insurance and insurtech stories from around the world last week:
1. Zurich ups the ante on Beazley with improved takeover proposal
Zurich Insurance Group has submitted a revised £1,280 per share cash offer for Beazley, valuing the Lloyd’s specialty insurer at a 56% premium to its 16 January closing price. The move follows Beazley’s rejection of an earlier 1,230p offer, with Zurich stating the new proposal “provides full value across all relevant metrics.”
Strategically, Zurich is positioning the transaction as a step toward building a global specialty insurance leader, combining Zurich’s scale with Beazley’s Lloyd’s platform and specialty underwriting expertise. The deal is expected to be accretive to Zurich’s 2027 targets. Under UK takeover rules, Zurich has until 16 February 2026 to confirm whether it will proceed.
2. Lloyd’s appoints Jim Bichard as Chief Financial Officer
Lloyd’s has announced the appointment of Jim Bichard as Chief Financial Officer, effective April 2026, further strengthening its executive leadership as the market enters its next phase of strategic growth. Bichard will join the Executive Team, report to CEO Patrick Tiernan, and become a member of the Council of Lloyd’s, subject to regulatory approval.
Currently leading PwC’s global insurance practice, Bichard brings nearly 30 years of experience across insurance, reinsurance and broking, with deep expertise in finance transformation, capital optimisation and the London market.
3. AIG partners with CVC to advance long-term investment strategy
AIG has entered into a strategic partnership with global investment manager CVC to support its long-term investment objectives, including large-scale allocations to credit strategies and the launch of a new private equity secondaries evergreen platform.
Under the agreement, CVC will establish the secondaries platform with AIG committing up to $1.5 billion from its existing private equity portfolio as a cornerstone investor. In parallel, AIG plans to allocate up to $2 billion to CVC-managed SMAs and funds, with an initial $1 billion deployment targeted through 2026.
4. Sedgwick launches Global Specialty platform for complex claims
Sedgwick has launched its new Global Specialty platform, expanding its capability to manage large, complex and cross-border losses across marine, energy and other technical risk classes. Headquartered in London with hubs across Asia, the Middle East and the Americas, the platform unifies Sedgwick’s specialty claims expertise under a single global structure.
Led by Damian Ely as CEO and Kevin Haganas as Chief Commercial Officer, the platform is supported by more than 100 specialist loss adjusters worldwide, enhancing technical depth, consistency and global coordination.
5. Generali appoints Giulio Terzariol as Group Deputy CEO
Generali has confirmed Giulio Terzariol has assumed the role of Direttore Generale – Group Deputy CEO, following completion of the regulatory process. The appointment strengthens alignment across Generali’s insurance and banking operations, with Terzariol leading the Group’s insurance business and overseeing Banca Generali.
A former Allianz Group CFO, Terzariol’s appointment underscores Generali’s focus on leadership continuity as it advances its Lifetime Partner 27: Driving Excellence strategy.
