The legal advisors on Zurich’s share placement
On March 2, 2026, Zurich Insurance Group initiated an accelerated bookbuilding offering, leading to the placement of 7,090,909 newly issued shares at an offer price of CHF 550 each, and raising aggregate gross proceeds of approximately CHF 3.9 bn.
In connection with the transaction, Homburger advised Zurich, while Niederer Kraft Frey (NKF) represented the banking syndicate — including UBS, Goldman Sachs International, Morgan Stanley, Deutsche Bank Aktiengesellschaft, Citigroup Global Markets, Crédit Agricole Corporate and Investment Bank and Zürcher Kantonalbank.
The offering
The offering raised USD 5.0 billion in gross proceeds for the company, based upon a placement price of CHF 550 per share. The net proceeds from the capital increase will be directed at partly financing Zurich’s acquisition of Beazley. The transaction is expected to close on 5 March 2026.
The Homburger team
Hansjürg Appenzeller (corporate / M&A, capital markets, insurance, pictured left) and Lorenzo Togni (capital markets, pictured right) led the Homburger team on the matter, working alongside Matthias Müller (corporate/M&A) and Fabrice Eckert (insurance, financing). Dieter Grünblatt and Arbnor Sheholli provided tax advice.
The NKF team
Transactions partners Deirdre Ni Annrachain and Philip Spoerlé led the NKF team on the matter, working alongside associate Manuel Hirlinger and junior associateSandja Kozina (both transactions) as well as partner Simon Bühler (insurance regulatory).
