Moody's commented on Zurich Insurance Group AG's proposed acquisition of U.K.-based specialty insurer Beazley plc.
The ratings agency suggested the deal would accelerate consolidation in the cyber insurance market. It also noted the acquisition would bolster Zurich's position in specialty insurance.
Moody's expects the acquisition to unlock cost and capital synergies for Zurich. The deal provides Zurich access to third-party capital via Beazley's platform at Lloyd's of London.