Zurich Beazley Holdings Limited BZLEY

FinancialsInsuranceUnited Kingdom

Last close 34.50 USD on Nov 3, 2026, +49.9% year to date

Quant rating

Quant rating D Rank 246 of 304 in Financials

Growth C 192 of 304
Valuation D 252 of 304
Quality C 136 of 304
Revisions D 253 of 304
Momentum C 151 of 304

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 10.4B
Enterprise value: –
52-week range: 20.93 – 36.88
3-year range: 16.29 – 36.88
Dividend yield: 1.97%
Beta (5 years): –
Shares outstanding: 603M
Next earnings: Mar 4, 2027

About the company

Zurich Beazley Holdings Limited, formerly Beazley PLC, is a United Kingdom-based specialist insurance company with operations in Europe, North America, Latin America, Bermuda and Asia. The Company's segments include Cyber Risks, MAP Risks, Property Risks, and Specialty Risks. The Cyber Risks segment underwrites cyber and technology risks. The MAP Risks segment underwrites marine, portfolio underwriting and political and contingency business. The Property Risks segment underwrites first-party property risks and reinsurance business. The Specialty Risks segment underwrites a range of liability classes, including employment practices risks and directors and officers, as well as healthcare, lawyers and international financial institutions. It serves various industries, such as aviation, aerospace and space; transportation and warehousing; education; marine; hospitality and gaming; private equity and portfolios; property and construction, and others.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	5,606	5,266	4,920	4,868	3,175	–
Revenue growth	6.5%	7.0%	1.1%	53.3%	16.6%	15.5%
EPS (basic, normalized)	1.45	1.70	1.51	0.26	0.50	–
EPS growth	−15.0%	12.5%	484.6%	−48.2%	–	–
Gross margin	–	–	–	–	–	–
Net margin	15.3%	19.5%	19.7%	9.9%	9.4%	14.8%
ROE	19.3%	26.6%	30.0%	6.8%	15.7%	19.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	5,606	+6.5%	–	8.13	+17.1%	4.2x	1.45	−15.0%	23.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	–	–	–	–
2027	–	–	–	–	–	–	–	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
BZLEY Zurich Beazley Holdings Limited	10.4B	19.3%	15.3%	–	–	–	–	–
FNF Fidelity National Financial Inc	11.1B	17.8%	4.2%	1.49x	8.4x	7.7x	1.2x	1.1x
MGPFY M&G PLC	10.4B	13.7%	4.2%	2.97x	26.0x	23.5x	6.0x	5.6x
VNRFY Vienna Insurance Group Wiener Versicherung Gruppe AG	10.2B	12.6%	6.0%	1.13x	1.8x	1.6x	0.2x	0.2x
OSCR Oscar Health, Inc.	10.0B	−44.5%	−3.8%	4.87x	17.7x	14.6x	5.6x	3.8x
MDBKY Medibank Private Limited	9.9B	26.7%	7.3%	5.82x	205.9x	193.5x	56.6x	54.0x
Mean		7.6%	5.5%	3.26x	52.0x	48.2x	13.9x	12.9x
Median		15.7%	5.1%	2.97x	17.7x	14.6x	5.6x	3.8x

Technical analysis

1M–
3M0.0%
1Y+35.2%
3Y+105.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Zurich Beazley Holdings Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Premiums earned	5,606	5,266	4,920	4,868	3,175	2,723
Other revenue	374	518	327	3.3	116	188
Total revenue	5,980	5,784	5,247	4,871	3,292	2,911
Losses, benefits and adjustments	4,437	3,933	3,593	4,014	1,940	2,069
Amortization of policy acquisition costs	–	–	–	–	708	628
Selling, general & administrative expenses	1,189	1,134	896	651	283	236
Depreciation/amortization	44.7	27.6	33.3	29.9	–	–
Interest expense (income), operating	40.9	39.3	40.6	38.7	38.9	40.2
Other operating expenses	−805	−764	−568	−446	−47.3	−11.4
Operating income	1,073	1,414	1,252	584	369	−50.4
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	73.4	9.4	2.2	0.2	0	0
Net income before taxes	1,146	1,424	1,254	584	369	−50.4
Provision for taxes	233	293	221	102	61.1	−3.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	913	1,130	1,034	482	308	−46.5
Extraordinary items	–	0	−6.8	1.0	0.6	0.4
Net income	913	1,130	1,027	483	309	−46.1
Basic weighted average shares (mil)	611	646	664	612	606	574
Diluted weighted average shares (mil)	631	663	678	620	614	574
Basic EPS, normalized	1.45	1.70	1.51	0.26	0.50	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Zurich Beazley Holdings Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Total receivables	–	–	–	–	–	86.5
Prepaid expenses	−45.8	39.7	42.7	15.9	–	–
Property, plant & equipment	85.0	78.7	75.3	75.4	94.7	106
Goodwill	62.0	62.0	62.0	62.0	–	62.0
Intangibles	162	136	103	66.8	124	64.3
Insurance receivables	–	–	–	–	–	1,468
Long-term investments	10,626	10,631	9,767	8,430	7,284	6,362
Note receivable	623	684	311	194	11.9	27.9
Other long-term assets	445	583	270	329	36.1	31.6
Deferred policy acquisition costs	–	–	–	–	–	385
Other assets	3,131	2,710	2,440	2,181	1,912	1,685
Total assets	16,193	15,419	13,665	11,713	10,054	10,588
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	23.9	79.1	98.9	31.5	–	172
Policy liabilities	9,973	9,111	8,326	7,511	6,699	7,772
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	0
Long-term debt	627	616	625	621	639	637
Minority interest	–	–	–	–	–	–
Other liabilities	698	1,006	734	595	526	197
Total liabilities	11,322	10,812	9,783	8,758	7,864	8,778
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	41.9	44.6	46.7	46.6	42.9	42.9
Additional paid-in capital	20.8	17.9	10.6	9.7	5.3	5.3
Retained earnings (accumulated deficit)	4,864	4,638	3,942	3,016	2,243	1,862
Treasury stock	–	–	–	–	–	–
Other equity	−55.6	−93.5	−117	−117	−101	−101
Total equity	4,871	4,607	3,882	2,955	2,190	1,810
Total liabilities & shareholders' equity	16,193	15,419	13,665	11,713	10,054	10,588

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Zurich Beazley Holdings Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,146	1,424	1,254	584	369	−50.4
Depreciation, depletion & amortization	–	–	–	–	40.4	32.9
Deferred taxes	–	–	–	–	–	–
Non-cash items	−564	−402	−454	275	−75.7	−150
Changes in working capital	733	31.0	372	238	836	644
Cash from operations	1,315	1,052	1,172	1,097	1,170	477
Investing activities
Capital expenditures	−13.4	−17.8	−4.3	−1.0	−22.2	−33.4
Other investing cash flows	−53.5	−463	−830	−1,249	−817	−578
Cash from investing	−66.9	−480	−834	−1,250	−839	−612
Financing activities
Financing cash flow items	−40.9	−39.3	−37.5	−36.3	−35.2	−37.8
Cash dividends paid	−211	−120	−108	−103	0	−50.2
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−545	−356	−45.6	375	−12.8	266
Cash from financing	−797	−516	−191	236	−48.0	178
Foreign exchange effects	35.5	13.3	12.6	−22.2	0	−11.7
Net change in cash	486	69.8	160	60.7	282	31.0
Free cash flow	1,301	1,035	1,168	1,096	1,147	443

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.